Dungates Farms Limited - Accounts to registrar (filleted)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Dungates Farms Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A N M Sanders

D A B Sanders

W V Thornton

SECRETARY:

D A B Sanders

REGISTERED OFFICE:

Buckland Estate Office

Lawrence Lane

Buckland

Surrey

RH3 7BE

REGISTERED NUMBER:

01360773 (England and Wales)

ACCOUNTANTS:

Williams & Co Epsom LLP

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

4

1,398,752

1,380,176

Investment property

5

15,259,119

14,421,619

16,657,871

15,801,795

CURRENT ASSETS

Stocks

6

160,864

187,708

Debtors

7

6,360,895

6,568,139

Cash at bank and in hand

145,169

195,507

6,666,928

6,951,354

CREDITORS

Amounts falling due within one year

8

1,569,381

2,082,794

NET CURRENT ASSETS

5,097,547

4,868,560

TOTAL ASSETS LESS CURRENT
LIABILITIES

21,755,418

20,670,355

CREDITORS

Amounts falling due after more than one year

9

(3,030,000

)

(2,270,000

)

PROVISIONS FOR LIABILITIES

12

(3,494,820

)

(3,494,820

)

NET ASSETS

15,230,598

14,905,535

CAPITAL AND RESERVES

Called up share capital

13

50,069

Fair value reserve

14

6,839,542

Capital redemption reserve

14

45,331

Retained earnings

14

8,295,656

7,970,593

SHAREHOLDERS' FUNDS

15,230,598

14,905,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 July 2026 and were signed on its behalf by:

D A B Sanders - Director

1.	STATUTORY INFORMATION

Dungates Farms 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.

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.

Turnover

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

Tangible fixed assets

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

Freehold property

-

10% on cost and not provided

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Investment property

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2024 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

COST

At 1 January 2025

1,185,263

336,765

21,152

6,850

1,550,030

Additions

41,725

15,581

850

-

58,156

At 31 December 2025

1,226,988

352,346

22,002

6,850

1,608,186

DEPRECIATION

At 1 January 2025

928

166,733

2,193

-

169,854

Charge for year

464

35,794

3,322

-

39,580

At 31 December 2025

1,392

202,527

5,515

-

209,434

NET BOOK VALUE

At 31 December 2025

1,225,596

149,819

16,487

6,850

1,398,752

At 31 December 2024

1,184,335

170,032

18,959

6,850

1,380,176

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

14,421,619

Additions

837,500

At 31 December 2025

15,259,119

NET BOOK VALUE

At 31 December 2025

15,259,119

At 31 December 2024

14,421,619

Fair value at 31 December 2025 is represented by:

£

Valuation in 2016

904,706

Valuation in 2017

108,345

Valuation in 2018

427,526

Valuation in 2019

699,988

Valuation in 2020

971,411

Valuation in 2021

9,793,735

Valuation in 2022

(681,125

)

Cost

3,034,533

15,259,119

6.

STOCKS

2025

2024

£

Stocks

160,864

187,708

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

130,021

80,674

Amounts owed by group undertakings

6,141,503

6,408,766

Other debtors

86,631

76,933

Prepayments

2,740

1,766

6,360,895

6,568,139

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts (see note 10)

60,000

Trade creditors

91,808

113,421

Amounts owed to group undertakings

1,157,122

1,656,222

Tax

40,860

-

Social security and other taxes

22,341

19,853

VAT

46,459

53,925

Other creditors

56,364

39,335

Accruals and deferred income

86,427

140,038

Accrued expenses

8,000

-

1,569,381

2,082,794

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans (see note 10)

2,210,000

2,270,000

Other loans (see note 10)

820,000

-

3,030,000

2,270,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

-

1,850,000

Series B Loan notes

487,500

-

487,500

1,850,000

Repayable by instalments

Bank loans more 5 yr by instal

-

180,000

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

Amounts falling due within one year or on demand:

Bank loans

60,000

2025

2024

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

60,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

2,150,000

180,000

Series A Loan notes

332,500

-

2,482,500

180,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

-

1,850,000

Series B Loan notes

487,500

-

487,500

1,850,000

Repayable by instalments

Bank loans more 5 yr by instal

-

180,000

The company has an interest only bank loan of £2,000,000 which runs to April 2030. In addition there is a 10 year loan of £600,000 with annual capital repayments of £60,000. The loans are secured against the investment properties held by the company.

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

2,270,000

2,330,000

12.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

3,494,820

Deferred

tax

£

Balance at 1 January 2025

3,494,820

Balance at 31 December 2025

3,494,820

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

47,685

Ordinary

£1

47,685

238,425

Preference shares

.01

2,384

50,069

14.

RESERVES

Fair

Capital

Retained

value

redemption

earnings

reserve

Totals

£

At 1 January 2025

7,970,593

6,839,542

45,331

14,855,466

Profit for the year

325,063

At 31 December 2025

8,295,656

6,839,542

45,331

15,180,529

15.	RELATED PARTY DISCLOSURES

During the year, the company acquired a 50% interest in Underhill Farmhouse, a property from the directors' close family members.

Consideration was satisfied through the issue of:

- £350,000 Series A loan notes to the vendors; and

- £487,500 Series B loan notes which were subsequently gifted to other close family members.

The property is occupied by the vendors under an assured shorthold tenancy agreement. Rental income of £30,000 per annum is recognised, which is settled by offset against the Series A loan notes.

16.	ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Samisami Limited.