REGISTERED NUMBER: 00759673 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2025

for

R. S. Baker & Sons Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

4

6,665,675

6,632,215

Investments

5

149,999

251,184

Investment property

6

4,851,500

4,851,500

11,667,174

11,734,899

Current assets

Stocks

21,941

27,293

Debtors

7

1,128,333

610,105

Cash at bank

1,700,115

2,090,962

2,850,389

2,728,360

Creditors

Amounts falling due within one year

8

(498,018

)

(449,944

)

Net current assets

2,352,371

2,278,416

Total assets less current liabilities

14,019,545

14,013,315

Provisions for liabilities

(798,373

)

(778,333

)

Net assets

13,221,172

13,234,982

Capital and reserves

Called up share capital

7,000

7,000

Revaluation reserve

9

3,005,159

3,005,159

Capital redemption reserve

3,000

3,000

Retained earnings

10,206,013

10,219,823

13,221,172

13,234,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 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 23 June 2026 and were signed on its behalf by:

Mr C A S Baker - Director

Mr D J Baker - Director

1.	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.

2.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Farm sales are measured at the fair value of the consideration receivable, excluding discounts, rebates, value added tax and other sales taxes. Income is recognised when the crops are delivered.

Government subsidies are measured at fair value and recognised when received.

Shoots and pheasant sales are measured at fair value and are recognised on the day of the shoot.

Management charges, rental and associated income is measured at fair value of the consideration receivable, excluding discounts, rebates, value added tax and other sales taxes. Income is recognised in the period to which it relates.

Tangible fixed assets

Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery etc - 25% p.a. reducing balance, straight line over 25 years and at variable rates on reducing balance

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. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement Other Comprehensive Income, 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.

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

Exceptional items

Exceptional items are disclosed separately in the financial statements where it is necessary to do so to provide further understanding of the financial performance of the company. They are items that are material either because of their size or their nature, and are considered non-recurring. These items are presented within the line items to which they best relate and reported separately as exceptional items.

3.	Employees and directors

The average number of employees during the year was 16 (2024 - 16 ) .

4.	Tangible fixed assets

Freehold

Long

Improvements

property

leasehold

to property

£

£

£

Cost or valuation

At 1 December 2024

5,809,409

505,000

62,315

Additions

-

-

-

Disposals

-

-

-

At 30 November 2025

5,809,409

505,000

62,315

Depreciation

At 1 December 2024

-

-

62,315

Charge for year

-

-

-

Eliminated on disposal

-

-

-

At 30 November 2025

-

-

62,315

Net book value

At 30 November 2025

5,809,409

505,000

-

At 30 November 2024

5,809,409

505,000

-

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost or valuation

At 1 December 2024

1,383,452

521,589

8,281,765

Additions

-

257,302

257,302

Disposals

-

(259,370

)

(259,370

)

At 30 November 2025

1,383,452

519,521

8,279,697

Depreciation

At 1 December 2024

1,263,659

323,576

1,649,550

Charge for year

54,401

30,988

85,389

Eliminated on disposal

-

(120,917

)

(120,917

)

At 30 November 2025

1,318,060

233,647

1,614,022

Net book value

At 30 November 2025

65,392

285,874

6,665,675

At 30 November 2024

119,793

198,013

6,632,215

Cost or valuation at 30 November 2025 is represented by:

Freehold

Long

Improvements

property

leasehold

to property

£

£

£

Valuation in 2008

2,114,567

505,000

-

Valuation in 2010

30,000

-

-

Valuation in 2011

645,000

-

-

Valuation in 2012

700,000

-

-

Valuation in 2016

(1,025,000

)

-

-

Valuation in 2021

555,000

-

-

Valuation in 2024

138,000

-

-

Cost

2,651,842

-

62,315

5,809,409

505,000

62,315

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Valuation in 2008

-

-

2,619,567

Valuation in 2010

-

-

30,000

Valuation in 2011

-

-

645,000

Valuation in 2012

-

-

700,000

Valuation in 2016

-

-

(1,025,000

)

Valuation in 2021

-

-

555,000

Valuation in 2024

-

-

138,000

Cost

1,383,452

519,521

4,617,130

1,383,452

519,521

8,279,697

If land and buildings had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

2,651,842

2,651,842

Value of land in freehold land and buildings

2,302,000

2,302,000

Land & buildings were valued on an open market basis on 30 November 2025 by the directors .

5.	Fixed asset investments

Interest in

other

participating

interests

£

Cost

At 1 December 2024

251,184

Disposals

(101,185

)

At 30 November 2025

149,999

Net book value

At 30 November 2025

149,999

At 30 November 2024

251,184

6.	Investment property

Total

£

Fair value

At 1 December 2024

and 30 November 2025

4,851,500

Net book value

At 30 November 2025

4,851,500

At 30 November 2024

4,851,500

Fair value at 30 November 2025 is represented by:

£

Valuation in 2008

1,159,009

Valuation in 2010

(280,000

)

Valuation in 2011

140,186

Valuation in 2012

(75,000

)

Valuation in 2016

376,641

Valuation in 2024

360,505

Cost

3,170,159

4,851,500

If the investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

3,170,159

3,170,159

Aggregate depreciation

(19,757

)

(19,757

)

The investment properties were valued on an open market basis on 30 November 2025 by the directors .

7.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

570,158

536,923

Other debtors

558,175

73,182

1,128,333

610,105

8.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

99,859

65,199

Taxation and social security

77,960

77,787

Other creditors

320,199

306,958

498,018

449,944

9.

Reserves

Revaluation

reserve

£

At 1 December 2024

and 30 November 2025

3,005,159

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

10.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 November 2025 and 30 November 2024:

2025

2024

£

£

Mr C A S Baker

Balance outstanding at start of year

-

(8,464

)

Amounts advanced

-

13,592

Amounts repaid

-

(5,128

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Interest has not been charged on the loan.

11.	Related party disclosures

Baker Properties is a partnership between C A S Baker and D J Baker.

During the period the company charged £18,000 (2024 £18,000) for use of plant and machinery and £24,000 (2024 £24,000) for administration to Baker Properties.

During the year the company was charged £65,000 rent (2024 £70,000) by C A S Baker and D J Baker.

At the year end a balance of £528,789.89 was owed by Baker Properties charged to the company with interest of £6,669.70 for the period.

There is no ultimate controlling party.