1.
General Information
M Madders Farming Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
06492950
. The registered office is Church Farm, Coppenhall, Stafford, ST18 9BW.
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, excluding discounts, rebates, value added tax and other sales taxes.
The policies adopted for the recognition of turnover are as follows:
Sale of goods
Turnover from the sale of milk, livestock, crops and electricity 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.
Dividends receivable
Dividend income is recognised as the company's right to receive payment is established.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.
Rent received
Rental income is recognised using the accrual model.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributeable 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.
| Plant & Machinery |
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| Motor Vehicles |
|
2.4.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
M Madders Farming Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.5.
Stocks and Work in Progress
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
2.6.
Financial Instruments
Basic financial instruments are recognisd at amortised cost, with changes recognised in profit or loss. Derivatice financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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 are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10.
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.
2.11.
Hire Purchasing and leasing commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future pauments is treated as a liability.
M Madders Farming Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.12.
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently they are measured at fair value through profit or loss if the shares are publicly traded or their fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2024: 8)
4.
Intangible Assets
| Other | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 January 2025 |
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| As at 31 December 2025 |
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| Amortisation | |||
| As at 1 January 2025 |
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| As at 31 December 2025 |
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| Net Book Value | |||
| As at 31 December 2025 |
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| As at 1 January 2025 |
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5.
Tangible Assets
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Plant & Machinery | Motor Vehicles | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 January 2025 |
|
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| Additions |
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| Disposals |
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( |
( |
( |
| As at 31 December 2025 |
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| Depreciation | ||||
| As at 1 January 2025 |
|
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| Provided during the period |
|
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| Disposals |
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( |
( |
( |
| As at 31 December 2025 |
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| Net Book Value | ||||
| As at 31 December 2025 |
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| As at 1 January 2025 |
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The total value of fixed assets included in the above, which are held under hire purchase contracts are as follows:
M Madders Farming Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
|
Fixtures & Machinery
|
|
|
£
|
|
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Cost
|
|
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At 1 January 2025
|
351,500
|
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Additions
|
187,500
|
|
Transfer to ownership
|
-
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
At 31 December 2025
|
539,000
|
|
Depreciation
|
|
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At 1 January 2025
|
87,875
|
|
Transfer to ownership
|
-
|
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Charge for year
|
112,781
|
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At 31 December 2025
|
200,656
|
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Net book value
|
|
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At 31 December 2024
|
263,625
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
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At 31 December 2025
|
338,343
|
6.
Investments
| Listed | Unlisted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 January 2025 |
|
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| Revaluations |
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| As at 31 December 2025 |
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| Provision | |||
| As at 1 January 2025 |
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- |
| As at 31 December 2025 |
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- |
| Net Book Value | |||
| As at 31 December 2025 |
|
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| As at 1 January 2025 |
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The historical cost of the listed investments as at 31 December 2025 was £121,979 (2024 - £121,979)
7.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
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| Herd |
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M Madders Farming Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
8.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Forward contracts |
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| Corporation tax recoverable assets |
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| VAT |
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| Directors' loan accounts |
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9.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security |
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| Accruals and deferred income |
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10.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans |
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11.
Obligations Under Finance Leases and Hire Purchase
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
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| Later than one year and not later than five years |
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M Madders Farming Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
13.
Contingent Liabilities
M Madders Farming Limited has guaranteed loans with National Westminster Bank PLC for £1,248,998 (2024 £971,512) on behalf of both of the directors in the company.
14.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at 1 January 2025 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2025 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mrs Rosemary Chandler |
|
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|
- |
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| Mr Michael Madders |
|
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|
- |
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The above loan is provided at a 3.75% interest rate and repayable on demand.
15.
Reserves
| Fair Value Reserve | |
|---|---|
| £ | |
| As at 1 January 2025 |
( |
| Movements in fair value reserve | 18,726 |
| Deferred tax provision | 4,681 |
| As at 31 December 2025 |
( |