The Thorpe & Asgarby Estate Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04056473 (England and Wales)

The Thorpe & Asgarby Estate Limited

Unaudited Financial Statements for the Year Ended 28th February 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B R Mellstrom LLB

S C Mellstrom MRICS

SECRETARY:

W Munday

REGISTERED OFFICE:

Glen House

Glen Road

Grayshott

Hindhead

Surrey

GU26 6NF

REGISTERED NUMBER:

04056473 (England and Wales)

ACCOUNTANTS:

Sheen Stickland

Chartered Accountants

2 Oriel Court

Omega Park

Alton

Hampshire

GU34 2YT

FIXED ASSETS

Tangible assets

4

3,881,660

3,838,348

Investment property

5

8,836,000

8,409,000

12,717,660

12,247,348

CURRENT ASSETS

Stocks

330,902

440,743

Debtors

6

607,943

292,400

Cash at bank

367,666

711,287

1,306,511

1,444,430

CREDITORS

Amounts falling due within one year

7

950,475

606,244

NET CURRENT ASSETS

356,036

838,186

TOTAL ASSETS LESS CURRENT LIABILITIES

13,073,696

13,085,534

CREDITORS

Amounts falling due after more than one
year

8

(2,330,000

)

(2,330,000

)

PROVISIONS FOR LIABILITIES

10

(1,829,895

)

(1,722,704

)

NET ASSETS

8,913,801

9,032,830

CAPITAL AND RESERVES

Called up share capital

11

2,003

2,002

Share premium

12

11,543

-

Fair value reserve

12

5,908,133

5,481,133

Retained earnings

12

2,992,122

3,549,695

SHAREHOLDERS' FUNDS

8,913,801

9,032,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2026 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 13th August 2026 and were signed on its behalf by:

B R Mellstrom LLB - Director

1.	STATUTORY INFORMATION

The Thorpe & Asgarby Estate 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.

Turnover

Turnover represents net invoiced sales of goods together with sales of development land and property, excluding value added tax.

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

-

not provided

Estate office

-

2% on cost

Improvements to property

-

at varying rates on cost

Plant and machinery

-

at varying rates on cost

Computer equipment

-

20% on cost

The freehold property consists of land and agricultural buildings. The majority of the agricultural buildings are let as part of a farm tenancy on full repairing and insuring terms and have not been depreciated.

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.

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.

Contract farming

The company has entered into a contract farming arrangement for the 2026 season. This contract will be brought into the company's results for the year ending 28 February 2026.

At 28th February 2026 the expenditure on this 2026 farming contract, less receipts on account, has been carried forward as it is too early to estimate the likely result for the farming year.

Government grants

Payments from the Rural Payments Agency including single farm payments are included in turnover in the year of receipt.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvem

Freehold

Estate

to

property

office

property

£

COST

At 1st March 2025

2,864,817

44,904

1,037,935

Additions

-

58,385

Disposals

(2,320

)

-

At 28th February 2026

2,862,497

44,904

1,096,320

DEPRECIATION

At 1st March 2025

-

20,207

794,828

Charge for year

-

988

13,531

At 28th February 2026

-

21,195

808,359

NET BOOK VALUE

At 28th February 2026

2,862,497

23,709

287,961

At 28th February 2025

2,864,817

24,697

243,107

Plant and

Computer

machinery

equipment

Totals

£

COST

At 1st March 2025

1,034,825

2,115

4,984,596

Additions

69,879

-

128,264

Disposals

-

(2,320

)

At 28th February 2026

1,104,704

2,115

5,110,540

DEPRECIATION

At 1st March 2025

329,098

2,115

1,146,248

Charge for year

68,113

-

82,632

At 28th February 2026

397,211

2,115

1,228,880

NET BOOK VALUE

At 28th February 2026

707,493

-

3,881,660

At 28th February 2025

705,727

-

3,838,348

Included in cost of land and buildings is freehold land of £ 2,929,657 (2025 - £ 2,929,657 ) which is not depreciated.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st March 2025

8,409,000

Revaluations

427,000

At 28th February 2026

8,836,000

NET BOOK VALUE

At 28th February 2026

8,836,000

At 28th February 2025

8,409,000

Fair value at 28th February 2026 is represented by:

£

Valuation in 2022

6,106,156

Valuation in 2023

609,000

Valuation in 2024

308,000

Valuation in 2026

427,000

Cost

1,385,844

8,836,000

If investment property had not been revalued it would have been included at the following historical cost:

2026

2025

£

Cost

1,385,844

Investment property was valued on an open market value basis on 30th April 2025 by Strutt and Parker .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

278,756

227,462

Other debtors

329,187

64,938

607,943

292,400

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bank loans and overdrafts

835,745

230,735

Trade creditors

45,904

92,306

Taxation and social security

-

81,107

Other creditors

68,826

202,096

950,475

606,244

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

Bank loans

2,330,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

Bank overdrafts

835,745

230,735

Bank loans

2,330,000

3,165,745

2,560,735

The bank loan and overdraft are secured by a fixed and floating charge over the company's assets.

10.	PROVISIONS FOR LIABILITIES

2026

2025

£

Deferred tax

Accelerated capital allowances

181,122

180,681

Other timing differences

1,648,773

1,542,023

1,829,895

1,722,704

Deferred

tax

£

Balance at 1st March 2025

1,722,704

Provided during year

107,191

Balance at 28th February 2026

1,829,895

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2026

2025

value:

£

2,003

Share capital

£1

2,003

2,002

(2025 - 2,002 )

1 Ordinary share of £1 was issued during the year for cash of £ 11,544 .

12.

RESERVES

Fair

Retained

Share

value

earnings

premium

reserve

Totals

£

At 1st March 2025

3,549,695

-

5,481,133

9,030,828

Profit for the year

63,427

Dividends

(194,000

)

(194,000

)

Cash share issue

-

11,543

-

11,543

Transfer

(427,000

)

-

427,000

-

At 28th February 2026

2,992,122

11,543

5,908,133

8,911,798

13.	CAPITAL COMMITMENTS

2026

2025

£

Contracted but not provided for in the

financial statements

130,095

-

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28th February 2026 and 28th February 2025:

2026

2025

£

B R Mellstrom LLB

Balance outstanding at start of year

-

Amounts advanced

554,883

-

Amounts repaid

(379,883

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

175,000

-