REGISTERED NUMBER: 09027248 (England and Wales)

INGLEBOROUGH FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

W L Roughton

Ms I Marston

REGISTERED OFFICE:

Ingleborough House

Main Road

Friskney

Boston

Lincolnshire

PE22 8SE

REGISTERED NUMBER:

09027248 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

FIXED ASSETS

Tangible assets

4

1,632,817

1,646,597

Investment property

5

200,000

150,000

1,832,817

1,796,597

CURRENT ASSETS

Valuation

1,185

1,185

Debtors

6

491,833

494,259

Cash at bank

20,949

32,644

513,967

528,088

CREDITORS

Amounts falling due within one year

7

54,764

85,345

NET CURRENT ASSETS

459,203

442,743

TOTAL ASSETS LESS CURRENT LIABILITIES

2,292,020

2,239,340

CREDITORS

Amounts falling due after more than one year

8

(53,215

)

(54,023

)

PROVISIONS FOR LIABILITIES

(12,500

)

(11,065

)

NET ASSETS

2,226,305

2,174,252

CAPITAL AND RESERVES

Called up share capital

10

48,582

48,582

Revaluation reserve

37,500

-

Retained earnings

2,140,223

2,125,670

SHAREHOLDERS' FUNDS

2,226,305

2,174,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 3 August 2026 and were signed on its behalf by:

W L Roughton - Director

1.	STATUTORY INFORMATION

Ingleborough 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 represents net invoiced sales of produce, excluding valued added tax, and includes the Single Farm Payment and environmental subsidies.

Sales of produce are recognised upon despatch.

The Basic Farm Payment is recognised in the financial statements in accordance with current H.M.Revenue & Customs guidance.

Tangible fixed assets

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

Land and buildings

-

Nil

Plant and machinery etc

-

33% on cost, 25% on reducing balance, 15% on reducing balance, 10% on cost, 5% on cost and Straight line over 25 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 4 (2025 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2025

and 31 January 2026

1,555,299

279,075

1,834,374

DEPRECIATION

At 1 February 2025

-

187,777

187,777

Charge for year

-

13,780

13,780

At 31 January 2026

-

201,557

201,557

NET BOOK VALUE

At 31 January 2026

1,555,299

77,518

1,632,817

At 31 January 2025

1,555,299

91,298

1,646,597

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

150,000

Revaluations

50,000

At 31 January 2026

200,000

NET BOOK VALUE

At 31 January 2026

200,000

At 31 January 2025

150,000

Fair value at 31 January 2026 is represented by:

£

Valuation in 2026

50,000

Cost

150,000

200,000

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

2026

2025

as restated

£

£

Cost

150,000

-

Investment property was valued on an open market basis on 31 January 2026 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

as restated

£

£

Trade debtors

95

27,593

Other debtors

491,738

466,666

491,833

494,259

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

as restated

£

£

Bank loans and overdrafts

699

1,609

Trade creditors

3,174

15,648

Taxation and social security

4,118

34,313

Other creditors

46,773

33,775

54,764

85,345

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

as restated

£

£

Bank loans

53,215

54,023

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due in more than 5 years by instalments

50,418

51,848

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

as restated

£

£

Bank loans

53,914

55,632

The Agricultural Mortgage Corporation PLC have a fixed and floating charge over the assets of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

as restated

£

£

NIL

Ordinary

£1

-

48,582

25,249

A Ordinary

£1

25,249

-

23,333

B Ordinary

£1

23,333

-

48,582

48,582

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2026 and 31 January 2025:

2026

2025

as restated

£

£

W L Roughton

Balance outstanding at start of year

-

-

Amounts advanced

27,896

-

Amounts repaid

(9,393

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

18,503

-

Loans to directors are charged at the official rate of interest, unsecured and repayable on demand.

12.	RELATED PARTY DISCLOSURES

At the year end there was an interest free loan of £436,476 (2025: £443,764) owed by a company in which a director has a participating interest in.