REGISTERED NUMBER: 00495404 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2026

for

Caudwell Farms

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

8

Directors:

A G Hay

F W Hay

Mrs L N Hay

Secretary:

Mrs L N Hay

Registered office:

The Estate Office

Hartley House

Holbeach St Matthews

Spalding

Lincolnshire

PE12 8EW

Registered number:

00495404 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Caudwell Farms for the year ended 31 May 2026 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Caudwell Farms, as a body, in accordance with the terms of our engagement letter dated 17 August 2026. Our work has been undertaken solely to prepare for your approval the financial statements of Caudwell Farms and state those matters that we have agreed to state to the Board of Directors of Caudwell Farms, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Caudwell Farms and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Caudwell Farms has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Caudwell Farms. You consider that Caudwell Farms is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Caudwell Farms. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

20 August 2026

Fixed assets

Tangible assets

5

6,855,965

7,012,838

Investments

6

94,774

105,774

6,950,739

7,118,612

Current assets

Stocks

1,353,436

1,615,529

Debtors

7

534,447

817,813

Cash at bank and in hand

7,033

259

1,894,916

2,433,601

Creditors

Amounts falling due within one year

8

1,354,303

1,477,434

Net current assets

540,613

956,167

Total assets less current liabilities

7,491,352

8,074,779

Creditors

Amounts falling due after more than one year

9

(5,577,750

)

(5,418,108

)

Provisions for liabilities

(142,089

)

(220,393

)

Net assets

1,771,513

2,436,278

Capital and reserves

Called up share capital

10

100,000

100,000

Retained earnings

1,671,513

2,336,278

Shareholders' funds

1,771,513

2,436,278

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2026 and were signed on its behalf by:

A G Hay - Director

F W Hay - Director

1.	Statutory information

Caudwell Farms is a private company , 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.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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 land - not depreciated

Storage buildings - 4% on cost

Leasehold property - straight line over period of lease

Reservoir - 4% on cost

Plant and machinery - 15% on written down value

Motor vehicles - 25% on written down value

Tractors and harvesters:

Owned and hire purchase - 20% on written down value

Leased - 25% on cost

Renewables - 10% on cost

Storage boxes - 3 years straight line

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Farm support income

De-linked farm support income accrues evenly up to 31 December in each claim year in the financial statements.

4.	Employees and directors

The average number of employees during the year was 8 (2025 - 8 ) .

5.	Tangible fixed assets

Freehold

Long

Plant and

Storage

property

leasehold

machinery

buildings

Totals

£

£

£

£

£

Cost

At 1 June 2025

6,257,612

225,981

2,725,375

587,293

9,796,261

Additions

-

-

7,280

-

7,280

At 31 May 2026

6,257,612

225,981

2,732,655

587,293

9,803,541

Depreciation

At 1 June 2025

137,474

183,483

1,911,348

551,118

2,783,423

Charge for year

11,784

6,779

139,413

6,177

164,153

At 31 May 2026

149,258

190,262

2,050,761

557,295

2,947,576

Net book value

At 31 May 2026

6,108,354

35,719

681,894

29,998

6,855,965

At 31 May 2025

6,120,138

42,498

814,027

36,175

7,012,838

Included within the above figure of £6,108,354 for freehold property is an amount of £5,918,716 (2025 - £5,918,716) in respect of freehold land and buildings upon which no depreciation is charged.

6.	Fixed asset investments

Other

investments

£

Cost

At 1 June 2025

105,774

Disposals

(11,000

)

At 31 May 2026

94,774

Net book value

At 31 May 2026

94,774

At 31 May 2025

105,774

7.

Debtors: amounts falling due within one year

2026

2025

£

£

Trade debtors

294,346

662,429

Tax

48,792

-

VAT

16,409

7,046

Prepayments and accrued income

174,900

148,338

534,447

817,813

8.

Creditors: amounts falling due within one year

2026

2025

£

£

Bank loans and overdrafts

-

70,204

Trade creditors

286,781

304,914

Amounts owed to group undertakings

752,927

752,763

Tax

-

48,794

Social security and other taxes

6,930

13,362

Hire purchase liabilities

-

78,154

Directors' current accounts

145,133

108,011

Accruals and deferred income

162,532

101,232

1,354,303

1,477,434

The bank loans were secured by a legal charge over certain freehold land owned by the company and obligations under hire purchase contracts were secured by the asset it is financing.

9.

Creditors: amounts falling due after more than one year

2026

2025

£

£

Bank loans

5,577,750

5,418,108

The bank loans are secured by a legal charge over certain freehold land owned by the company. Included within bank loans are £5,577,750 (2025 - nil) repayable after more than five years.

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

100,000

Ordinary shares

£1

100,000

100,000

11.	Ultimate controlling party

The parent company and ultimate holding company is George Hay Company Limited a company registered in England and Wales.The registered of the parent company being The Estate Office, Hartley House, Holbeach St Matthew, Spalding, Lincolnshire PE12 8EW.