Dunthrop Farms Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02562585 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

DUNTHROP FARMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R A A Coates

Mrs J C Coates

Mr T R J Coates

SECRETARY:

Mrs J C Coates

REGISTERED OFFICE:

Alderley

21 Lambridge Wood Road

Henley on Thames

Oxfordshire

RG9 3BP

REGISTERED NUMBER:

02562585 (England and Wales)

ACCOUNTANTS:

Bronsens Accountants Limited

Chartered Certified Accountants

Eden House

Two Rivers Business Park

Witney

Oxfordshire

OX28 4BL

FIXED ASSETS

Tangible assets

4

11,633,565

11,250,434

Investments

5

930,712

930,713

Investment property

6

1,170,000

13,734,277

13,351,147

CURRENT ASSETS

Stocks

7

120,342

283,212

Debtors

8

53,969

160,159

Investments

9

100,000

-

Cash at bank

49,380

435,793

323,691

879,164

CREDITORS

Amounts falling due within one year

10

141,409

127,650

NET CURRENT ASSETS

182,282

751,514

TOTAL ASSETS LESS CURRENT
LIABILITIES

13,916,559

14,102,661

CREDITORS

Amounts falling due after more than one
year

11

(668,782

)

(512,095

)

PROVISIONS FOR LIABILITIES

14

(2,410,426

)

(2,414,519

)

NET ASSETS

10,837,351

11,176,047

CAPITAL AND RESERVES

Called up share capital

15

1,220,002

Revaluation reserve

8,083,623

Retained earnings

1,533,726

1,872,422

SHAREHOLDERS' FUNDS

10,837,351

11,176,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 1 September 2026 and were signed on its behalf by:

Mr T R J Coates - Director

1.	STATUTORY INFORMATION

Dunthrop 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

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 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 property

-

not provided - see below

Flock

-

not provided

Plant and machinery

-

25% on cost and Straight line over 25 years

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Investment property

The Let Cottages are considered to be Investment Properties. They are included in the financial statements at market value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The sheep flock is capitalised as a fixed asset on a flock basis.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Non-depreciation of freehold buildings

The directors consider that the Freehold Properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged to the profit and loss account.

The directors perform annual impairment reviews to ensure that the recoverable amount is not lower than the carrying value.

Investments

Fixed asset investments are stated at cost and revalued to market value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Flock

machinery

£

COST OR VALUATION

At 1 January 2025

10,700,000

51,454

629,496

Additions

139,318

2,940

328,040

Disposals

-

(21,490

)

-

At 31 December 2025

10,839,318

32,904

957,536

DEPRECIATION

At 1 January 2025

-

130,516

Charge for year

-

72,205

At 31 December 2025

-

202,721

NET BOOK VALUE

At 31 December 2025

10,839,318

32,904

754,815

At 31 December 2024

10,700,000

51,454

498,980

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST OR VALUATION

At 1 January 2025

87,915

7,255

11,476,120

Additions

-

8,705

479,003

Disposals

-

(21,490

)

At 31 December 2025

87,915

15,960

11,933,633

DEPRECIATION

At 1 January 2025

87,915

7,255

225,686

Charge for year

-

2,177

74,382

At 31 December 2025

87,915

9,432

300,068

NET BOOK VALUE

At 31 December 2025

-

6,528

11,633,565

At 31 December 2024

-

11,250,434

In the opinion of the directors the residual value of land and buildings is not less than cost. Depreciation has therefore not been provided.

Cost or valuation at 31 December 2025 is represented by:

Freehold

Plant and

property

Flock

machinery

£

Valuation in 2019

6,294,243

-

Valuation in 2024

3,027,043

-

Cost

1,518,032

32,904

957,536

10,839,318

32,904

957,536

Fixtures

and

Motor

fittings

vehicles

Totals

£

Valuation in 2019

-

6,294,243

Valuation in 2024

-

3,027,043

Cost

87,915

15,960

2,612,347

87,915

15,960

11,933,633

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

31.12.25

31.12.24

£

Cost

1,518,032

1,378,714

Freehold land and buildings were valued on an open market basis on 9 December 2024 by Butler Sherborn .

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 January 2025

930,713

Disposals

(90,001

)

Revaluations

90,000

At 31 December 2025

930,712

NET BOOK VALUE

At 31 December 2025

930,712

At 31 December 2024

930,713

Cost or valuation at 31 December 2025 is represented by:

Listed

investments

£

Valuation in 2017

79,681

Valuation in 2018

7,939

Valuation in 2019

218,002

Valuation in 2020

37,605

Valuation in 2021

53,772

Valuation in 2022

589,727

Valuation in 2023

(386,725

)

Valuation in 2024

200,000

Cost

130,711

930,712

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

1,170,000

NET BOOK VALUE

At 31 December 2025

1,170,000

At 31 December 2024

1,170,000

Investment properties are let farm workers cottages.

Fair value at 31 December 2025 is represented by:

£

Valuation in 2024

974,739

Cost

195,261

1,170,000

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

31.12.25

31.12.24

£

Cost

195,261

Investment property was valued on an open market basis on 20 September 2024 by Strutt & Parker .

7.

STOCKS

31.12.25

31.12.24

£

Stocks

120,342

283,212

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

11,877

79,617

Other debtors

1,250

Loan to contractor

-

41,510

VAT

16,935

-

Prepayments & accrued income

23,907

37,782

53,969

160,159

9.	CURRENT ASSET INVESTMENTS

31.12.25

31.12.24

£

Listed investments

100,000

-

Market value of listed investments at 31 December 2025 - £ 100,000 .

Listed investments represents Loan Notes in Oxbury Bank plc acquired on 3 December 2025. The Loan Notes mature on 16 December 2035 and carry a coupon rate of 9%.

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Bank loans and overdrafts (see note 12)

23,667

Hire purchase contracts

19,200

-

Trade creditors

10,124

65,217

Social security and other taxes

-

2,500

Pension creditor

510

410

VAT

-

4,837

Directors' current accounts

25,700

-

Deferred income

56,246

25,355

Accrued expenses

5,962

5,664

141,409

127,650

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.25

31.12.24

£

Bank loans (see note 12)

604,782

512,095

Hire purchase contracts

64,000

-

668,782

512,095

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

510,114

417,427

12.

LOANS

An analysis of the maturity of loans is given below:

31.12.25

31.12.24

£

Amounts falling due within one year or on demand:

Bank loans

23,667

Amounts falling due between one and two years:

Bank loans - 1-2 years

23,667

Amounts falling due between two and five years:

Bank loans - 2-5 years

71,001

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

510,114

417,427

13.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

Bank loans

628,449

535,762

The bank loan is secured by way of a fixed charge on land at Dunthrop Farm, Heythrop, Chipping Norton dated 30 June 2021and a fixed and floating charge over company assets dated 7 May 2021. Both charges are in favour of Oxbury Bank plc.

14.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

Deferred tax

Accelerated capital allowances

190,314

124,718

Investments revaluation

202,500

152,000

Freehold property revaluation

2,212,401

Tax losses carried forward

(194,789

)

(74,600

)

2,410,426

2,414,519

Deferred

tax

£

Balance at 1 January 2025

2,414,519

Provided during year

65,596

Deferred tax on losses

(120,189

)

Deferred tax on investments

50,500

Balance at 31 December 2025

2,410,426

15.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

1,219,602

Ordinary

£1

1,219,602

100

A Ordinary

£1

100

B Ordinary

£1

100

C Ordinary

£1

100

D Ordinary

£1

100

1,220,002

16.	CONTROL RELATIONSHIPS

The ultimate controlling parties are Mr R Coates and Mr T Coates.