LINGHOLM FARMS LIMITED


Director	ANDERTON, James Michael John


Registered Address	Water End House
	Portinscale
	Keswick
	CA12 5UB


Registered Number	12681401 (England and Wales)

Statement of Financial Position
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		1,802,583		2,016,883
			1,802,583		2,016,883
Current assets
Debtors	5	17,100		11,340
		17,100		11,340
Creditors amounts falling due within one year	6	(42,580)		(256,584)
Net current assets (liabilities)			(25,480)		(245,244)
Total assets less current liabilities			1,777,103		1,771,639
Provisions for liabilities	7		(484,660)		(484,660)
Net assets			1,292,443		1,286,979
Capital and reserves
Called up share capital			1,704,720		1,704,720
Profit and loss account			(412,277)		(417,741)
Shareholders' funds			1,292,443		1,286,979

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 24 August 2026, and are signed on its behalf by:

ANDERTON, James Michael John
Director
Registered Company No. 12681401

LINGHOLM FARMS LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The company is loss making this year primarily due to the additional charges accrued from the other companies in the Lingholm group. The company wholly relies on the support from the other companies under common control to continue to trade. The directors and companies under common control have provided assurances that they will continue to support the company for a period of at least 12 months from the date of approval of these accounts. The directors have reviewed the prospects of the company for a period of at least 12 months from the date of approval of these accounts and consider the company to be a going concern. The directors and companies under common control will continue to support the company as it trades itself into a profitable position.

Going concern

The company is loss making this year primarily due to the additional charges accrued from the other companies in the Lingholm group. 

The company wholly relies on the support from the other companies under common control to continue to trade. The directors and companies under common control have provided assurances that they will continue to support the company for a period of at least 12 months from the date of approval of these accounts.

The directors have reviewed the prospects of the company for a period of at least 12 months from the date of approval of these accounts and consider the company to be a going concern.  The directors and companies under common control will continue to support the company as it trades itself into a profitable position.

	Turnover policy
	Turnover is measured at fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at fair value of the consideration received or receivable, net of discounts and value added taxes.  Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Included in Land and property is land equal to £1,353.000 which is not depreciated. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income.

Included in Land and property is land equal to £1,353.000 which is not depreciated.

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Land and buildings	50
	Plant and machinery	10

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Total
	£	£	£
Cost or valuation
At 01 April 24	2,064,214	3,008	2,067,222
Disposals	(200,000)	-	(200,000)
At 31 March 25	1,864,214	3,008	1,867,222
Depreciation and impairment
At 01 April 24	49,000	1,339	50,339
Charge for year	14,000	300	14,300
At 31 March 25	63,000	1,639	64,639
Net book value
At 31 March 25	1,801,214	1,369	1,802,583
At 31 March 24	2,015,214	1,669	2,016,883

4.	Revaluation of property, plant and equipment
	In August 2017 Mr M R Towers BSc (Hons) MRICS FAAV valued the Land and buildings on an existing use basis. It is the opinion of the directors that this valuation has not materiality altered at the period end date. These assets were subject to a demerger to Lingholm Farms Limited at their revalued amounts, with the related deferred tax provision. The related revaluation reserve was capitalised into share capital in the demerger process. Had the Land and buildings been measured at historical cost the amounts would have been £68,540 (2022 : £68,588) .

Revaluation of property, plant and equipment

In August 2017 Mr M R Towers BSc (Hons) MRICS FAAV valued the Land and buildings on an existing use basis. It is the opinion of the directors that this valuation has not materiality altered at the period end date. These assets were subject to a demerger to Lingholm Farms Limited at their revalued amounts, with the related deferred tax provision.  The related revaluation reserve was capitalised into share capital in the demerger process.

Had the Land and buildings been measured at historical cost the amounts would have been £68,540 (2022 : £68,588) .

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	17,100	11,340
Total	17,100	11,340


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Other creditors	42,580	256,584
Total	42,580	256,584


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Provisions for liabilities
	The provision for deferred tax is in respect of the revaluation of Freehold Property. There is no related reserve as it was capitalised into share capital during the demerger process.

	2025	2024
	£	£
Net deferred tax liability (asset)	484,660	484,660
Total	484,660	484,660

8.	Contingent liabilities
	Lingholm Farms Limited is a member of a VAT group with The Lingholm Private Trust Limited and Lake Distrcit Off Road Limited and as such is jointly and severally liable for VAT from group activities. As at 31 March 2025, the total amounts due to HMRC in respect of group VAT was £71,142.65.