REGISTERED NUMBER: 01454916 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2025

for

Up Cerne Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Colin Roderick Hawker McKenzie

Dr Alexander Hartig

SECRETARY:

Mr David Hebditch

REGISTERED OFFICE:

Estate Office

Up Cerne Manor

Up Cerne

DORCHESTER

Dorset

DT2 7AW

REGISTERED NUMBER:

01454916 (England and Wales)

ACCOUNTANTS:

A C Mole LLP

Chartered Accountants

Stafford House

Blackbrook Park Avenue

Taunton

Somerset

TA1 2PX

SOLICITORS:

Batten & Co

Church House

Yeovil

Somerset

BA20 1HB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,044,061

4,043,938

Investment property

6

9,468,380

8,198,846

13,512,441

12,242,784

CURRENT ASSETS

Stocks

7

233,954

414,873

Debtors

8

189,585

115,883

Cash at bank

641,555

2,483,850

1,065,094

3,014,606

CREDITORS

Amounts falling due within one year

9

10,466,876

9,123,455

NET CURRENT LIABILITIES

(9,401,782

)

(6,108,849

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,110,659

6,133,935

PROVISIONS FOR LIABILITIES

221,686

701,180

NET ASSETS

3,888,973

5,432,755

CAPITAL AND RESERVES

Called up share capital

59,328

59,328

Share premium

3,721,987

3,721,987

Revaluation reserve

10

4,287,759

4,287,759

Retained earnings

(4,180,101

)

(2,636,319

)

SHAREHOLDERS' FUNDS

3,888,973

5,432,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 August 2026 and were signed on its behalf by:

Mr Colin Roderick Hawker McKenzie - Director

1.	STATUTORY INFORMATION

Up Cerne Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the amounts recognised in the financial statements. Estimates and judgements are reviewed on an ongoing basis and are based on historical experience and other relevant factors. The resulting accounting estimates will, by definition, seldom equal the related actual results.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year are as follows:

i) Valuation of investment properties

The company carries its investment property at fair value, with changes in fair value being recognised in the income statement. The company engaged an independent valuation specialist in 2023 to determine fair value at the year end. Subsequently the fair value has been reviewed by the directors.

ii) Deferred taxation

Management estimation is required to determine the amount of deferred tax that should be provided on the revaluation of investment properties.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost, 10% on cost and Straight line over 30 years

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Tractors and combines

-

25% on reducing balance

A nil depreciation rate is appropriate for freehold buildings as the residual value over its useful life will exceed historical cost. Land has not been depreciated, properties are maintained to ensure that their value does not diminish over time. The maintenance costs are charged to profit and loss in the year incurred.

Investment property

Investment property is shown at most recent valuation plus any cost of property improvements. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stock and work in progress

Tillages, growing crops, cereals and other stores are valued at the lower of cost and net realisable value. The cost of cereals in store includes all direct production overheads. All other stock items are stated at cost.

Financial instruments

The company only has financial assets and liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Entitlements

£

COST

At 1 October 2024

and 30 September 2025

3,570

AMORTISATION

At 1 October 2024

and 30 September 2025

3,570

NET BOOK VALUE

At 30 September 2025

-

At 30 September 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 October 2024

3,628,490

17,659

726,231

Additions

-

15,363

24,503

At 30 September 2025

3,628,490

33,022

750,734

DEPRECIATION

At 1 October 2024

-

-

332,449

Charge for year

-

-

38,687

At 30 September 2025

-

-

371,136

NET BOOK VALUE

At 30 September 2025

3,628,490

33,022

379,598

At 30 September 2024

3,628,490

17,659

393,782

Fixtures

Tractors

and

Motor

and

fittings

vehicles

combines

Totals

£

£

£

£

COST

At 1 October 2024

59,858

85,940

24,295

4,542,473

Additions

-

-

-

39,866

At 30 September 2025

59,858

85,940

24,295

4,582,339

DEPRECIATION

At 1 October 2024

59,787

82,004

24,295

498,535

Charge for year

71

985

-

39,743

At 30 September 2025

59,858

82,989

24,295

538,278

NET BOOK VALUE

At 30 September 2025

-

2,951

-

4,044,061

At 30 September 2024

71

3,936

-

4,043,938

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2024

8,198,846

Additions

1,269,534

At 30 September 2025

9,468,380

NET BOOK VALUE

At 30 September 2025

9,468,380

At 30 September 2024

8,198,846

Fair value at 30 September 2025 is represented by:

£

Valuation in 2021

4,760,156

Valuation in 2022

1,021,775

Valuation in 2023

(75,000

)

Cost

3,761,449

9,468,380

If the investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

3,761,449

2,491,915

Investment property was valued on an open market basis on 30 September 2023 by a professional valuer .

Renovation costs incurred during the year have been added to the cost element increasing the book value. Once the renovation is complete an updated professional valuation will be undertaken.

7.

STOCKS

2025

2024

£

£

Cereals in store

208,652

190,615

Other stock

25,302

49,363

Growing crops

-

174,895

233,954

414,873

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

136,975

80,267

Other debtors

51,205

35,093

VAT

1,405

523

189,585

115,883

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans

442,929

442,929

Trade creditors

76,644

136,150

Amounts owed to group undertakings

9,560,342

8,346,500

Other creditors

386,961

197,876

10,466,876

9,123,455

10.

RESERVES

Revaluation

reserve

£

At 1 October 2024

and 30 September 2025

4,287,759

11.	ULTIMATE CONTROLLING PARTY

The company is under the control of Up Cerne Ltd. Vaduz, a company incorporated in Liechtenstein; the ultimate controlling party is the Up-Cerne Settlement Trust constituted in Liechtenstein.