Tavernor Farming Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

Registered number: 06554055

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		6,397		9,594
Tangible Assets	5		7,671,738		7,626,829
Investments			134,743		134,743

			7,812,878		7,771,166
CURRENT ASSETS
Stocks	6	1,223,333		1,073,965
Debtors	7	106,734		70,612
Cash at bank and in hand		184,243		18,511

		1,514,310		1,163,088
Creditors: Amounts Falling Due Within One Year	8	(341,854 )		(99,228 )

NET CURRENT ASSETS (LIABILITIES)			1,172,456		1,063,860

TOTAL ASSETS LESS CURRENT LIABILITIES			8,985,334		8,835,026

Creditors: Amounts Falling Due After More Than One Year	9		(3,089,871 )		(3,227,621 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(534,087 )		(532,781 )

NET ASSETS			5,361,376		5,074,624

CAPITAL AND RESERVES
Called up share capital	12		100		100
Revaluation reserve			2,437,886		2,437,886
Other reserves			(312,130 )		(312,130 )
Profit and Loss Account			3,235,520		2,948,768

SHAREHOLDERS' FUNDS			5,361,376		5,074,624

Page 1

Page 2

Tavernor Farming Limited

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr R J Tavernor

Director

25 August 2026

The notes on pages 3 to 7 form part of these financial statements.

1. General Information

Tavernor Farming Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06554055 . The registered office is Mount Farm, Norton-In-Hales, Market Drayton, Shropshire, TF9 4AZ.

2. Accounting Policies

2.1. Basis of Preparation of 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of milk and livestock is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rental income

Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line basis over the lease term.

Interest receivable

Interest income is recognised using the effective interest method.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are Basic Payment Entitlements and is amortised to profit and loss account over its estimated economic life of 6 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.

Freehold	4% on cost
Plant & Machinery	15% on reducing balance
Motor Vehicles	25% and 20% on reducing balance
Fixtures & Fittings	25% on cost and 15% on reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets acquired under hire purchase contracts are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

2.6. Stocks and Work in Progress

Stocks are valued in accordance with Business Economic Note 19 issued by the Inland Revenue, at the lower of cost and estimated selling price less costs to complete and sell using other accepted conventions to arrive at deemed cost where actual costs are not accurately ascertainable, after making allowance for obsolete and slow moving items.

Page 3

Page 4

Tavernor Farming Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. 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 assesments in periods different from those in which they aare 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.

2.8. Pensions

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.

2.9. Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2024: 6)

4. Intangible Assets

	Goodwill	Basic payment scheme	Total
	£	£	£
Cost
As at 1 January 2025	1	19,184	19,185

As at 31 December 2025	1	19,184	19,185

Amortisation
As at 1 January 2025	-	9,591	9,591
Provided during the period	-	3,197	3,197

As at 31 December 2025	-	12,788	12,788

Net Book Value
As at 31 December 2025	1	6,396	6,397

As at 1 January 2025	1	9,593	9,594

Page 4

Page 5

Tavernor Farming Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost or Valuation
As at 1 January 2025	7,493,709	361,568	154,370	2,497	8,012,144
Additions	146,687	12,570	16,329	-	175,586
Disposals	-	-	(12,200 )	-	(12,200 )

As at 31 December 2025	7,640,396	374,138	158,499	2,497	8,175,530

Depreciation
As at 1 January 2025	166,920	160,879	56,327	1,189	385,315
Provided during the period	69,548	31,989	22,589	305	124,431
Disposals	-	-	(5,954 )	-	(5,954 )

As at 31 December 2025	236,468	192,868	72,962	1,494	503,792

Net Book Value
As at 31 December 2025	7,403,928	181,270	85,537	1,003	7,671,738

As at 1 January 2025	7,326,789	200,689	98,043	1,308	7,626,829

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	-	46,950

Cost or valuation as at 31 December 2025 represented by:

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
At cost	7,640,396	374,138	158,499	2,497	8,175,530

	7,640,396	374,138	158,499	2,497	8,175,530

6. Stocks

	2025	2024
	£	£
Stock - Livestock	415,380	346,790
Stock - Produce	122,953	76,775
Herd	685,000	650,400

	1,223,333	1,073,965

Page 5

Page 6

Tavernor Farming Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	19,867	16,541
Prepayments and accrued income	63,754	46,904
VAT	23,113	7,167

	106,734	70,612

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	13,750
Trade creditors	165,673	22,548
Bank loans and overdrafts	43,062	10,354
Corporation tax	122,912	31,883
Other taxes and social security	51	884
Net wages	-	3,443
Pension control	-	508
Deposits held	448	448
Accruals and deferred income	6,800	15,410
Directors' loan accounts	2,908	-

	341,854	99,228

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	1,803,083	1,506,133
Directors' loan account	1,286,788	1,721,488

	3,089,871	3,227,621

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2025		2024
	£		£
Bank loans	1,580,454		1,271,739

10. Secured Creditors

Of the creditors the following amounts are secured.

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	13,750
Bank loans and overdrafts	1,846,144	1,516,487

A loan of £1,840,000 (2024 - £1,500,000) is secured against land at Overfields Farm, Ellesmere Road and Tilley Manor Farm, Wem, Shrewsbury, Shropshire and its associated assets.

Hire purchase liabilities are secured against the assets they relate to.

Page 6

Page 7

Tavernor Farming Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

11. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	43,062	10,354

	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	222,629	234,394

	2025	2024
	£	£
Amounts falling due after more than five years:
Bank loans	1,580,454	1,271,739

12. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
60 Ordinary A shares of £ 1.00 each	60	90
30 Ordinary B shares of £ 1.00 each	30	10
10 Ordinary C shares of £ 1.00 each	10	-

	100	100

Page 7