REGISTERED NUMBER: 05080097 (England and Wales)

JAMES MILLER (KELHAM) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

J J Miller

V K Miller

SECRETARY:

J J Miller

REGISTERED OFFICE:

Manor Farm

Kelham

Newark

Nottinghamshire

NG23 5QS

REGISTERED NUMBER:

05080097 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 London Road

Newark

Nottinghamshire

NG24 1TW

FIXED ASSETS

Property, plant and equipment

4

622,989

598,992

CURRENT ASSETS

Inventories

356,293

410,994

Debtors

5

271,884

347,816

628,177

758,810

CREDITORS

Amounts falling due within one year

6

1,018,321

982,750

NET CURRENT LIABILITIES

(390,144

)

(223,940

)

TOTAL ASSETS LESS CURRENT LIABILITIES

232,845

375,052

CREDITORS

Amounts falling due after more than one year

7

(77,679

)

(117,673

)

PROVISIONS FOR LIABILITIES

(150,504

)

(146,775

)

NET ASSETS

4,662

110,604

CAPITAL AND RESERVES

Called up share capital

9

3,000

3,000

Retained earnings

1,662

107,604

SHAREHOLDERS' FUNDS

4,662

110,604

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2026 and were signed on its behalf by:

J J Miller - Director

1.	STATUTORY INFORMATION

James Miller (Kelham) 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 (£).

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.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when the significant risks and rewards have passed to the customer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and that the costs incurred, or to be incurred, in respect of the transaction, can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 5% Reducing Balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, 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 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 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.

Basic payment

The Basic payment is recognised in the financial statements in accordance with current H. M. Revenue & Customs guidance.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Tractors

to

Plant and

and

Motor

property

machinery

combines

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2025

-

637,073

429,426

29,240

1,095,739

Additions

9,796

50,413

-

-

60,209

At 31 March 2026

9,796

687,486

429,426

29,240

1,155,948

DEPRECIATION

At 1 April 2025

-

354,165

131,145

11,437

496,747

Charge for year

-

16,846

14,914

4,452

36,212

At 31 March 2026

-

371,011

146,059

15,889

532,959

NET BOOK VALUE

At 31 March 2026

9,796

316,475

283,367

13,351

622,989

At 31 March 2025

-

282,908

298,281

17,803

598,992

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

19,084

55,004

Directors' current accounts

136,519

211,087

Tax

75,419

69,245

VAT

15,744

7,640

Prepayments and accrued income

25,118

4,840

271,884

347,816

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

802,402

695,997

Hire purchase contracts

52,657

58,865

Trade creditors

65,174

80,778

Tax

-

46,115

Other creditors

93,013

95,920

Accrued expenses

5,075

5,075

1,018,321

982,750

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

53,547

72,375

Hire purchase contracts

24,132

45,298

77,679

117,673

8.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank overdrafts

783,889

669,961

Bank loans

72,060

98,411

Hire purchase contracts

76,789

104,163

932,738

872,535

The bank overdraft and loan are secured by fixed and floating charges over the company's freehold land and buildings.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

3,000

Ordinary

£1

3,000

3,000

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the beginning of the year the director's loan account was overdrawn by £211,087 (2025: £186,350). During the year the director borrowed £106,803 (2025: £129,177) and repaid £181,371 (2025: £104,440), leaving an overdrawn balance of £136,519 at the year end (2025: £211,087).

11.	RELATED PARTY DISCLOSURES

During the year, James Miller (Kelham) Limited paid dividends of £88,000 (2025: £100,000) to the directors. Amounts owed by the director to the company at the year end totalled £136,519 (2025: £211,087).