REGISTERED NUMBER: 03115021 (England and Wales)

A.R. CRAVEN FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

9

DIRECTORS:

A R Craven

Mrs J M Craven

J R Craven

T A Craven

SECRETARY:

Mrs J M Craven

REGISTERED OFFICE:

Poplar Farm

Main Road

Stickford

Boston

Lincolnshire

PE22 8EL

REGISTERED NUMBER:

03115021 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

FIXED ASSETS

Tangible assets

4

6,569,035

5,432,994

Investments

5

1

1

6,569,036

5,432,995

CURRENT ASSETS

Valuation

1,693,330

1,379,214

Debtors

6

3,177,710

2,560,087

Cash at bank

405,488

403,059

5,276,528

4,342,360

CREDITORS

Amounts falling due within one year

7

2,707,932

2,238,389

NET CURRENT ASSETS

2,568,596

2,103,971

TOTAL ASSETS LESS CURRENT LIABILITIES

9,137,632

7,536,966

CREDITORS

Amounts falling due after more than one year

8

(3,014,567

)

(3,303,669

)

PROVISIONS FOR LIABILITIES

(1,169,281

)

(986,878

)

NET ASSETS

4,953,784

3,246,419

CAPITAL AND RESERVES

Called up share capital

10

10,000

10,000

Share premium

2,146,792

2,146,792

Retained earnings

2,796,992

1,089,627

SHAREHOLDERS' FUNDS

4,953,784

3,246,419

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 the Board of Directors and authorised for issue on 25 August 2026 and were signed on its behalf by:

A R Craven - Director

1.	STATUTORY INFORMATION

A.R. Craven 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 (£).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

12.5% on reducing balance, 5% on cost and 4% on cost

Plant and machinery etc

-

33% on reducing balance, 25% on reducing balance, 15% on reducing balance, 12.5% on reducing balance and 5% on cost

Included within freehold property are houses which are rented out to staff members, their presence on site being integral to their employment. All properties have agricultural ties and are therefore not considered to be investment properties.

Depreciation is not charged on value attributable to land included within the land and buildings cost.

Valuation

A professional valuation is carried out each year by an independent agricultural valuer. Stock is valued at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving items. Costs include any cost of production incurred to bring the stock to its state at the balance sheet date.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 the profit and loss account in the period to which they relate.

Government grants

Grants are recognised as income in the period in which they become receivable.

Investments

Investments held as fixed assets are shown at cost less provisions for impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2025

2,057,288

7,842,659

9,899,947

Additions

502,827

1,402,420

1,905,247

Disposals

-

(393,512

)

(393,512

)

At 31 December 2025

2,560,115

8,851,567

11,411,682

DEPRECIATION

At 1 January 2025

590,092

3,876,861

4,466,953

Charge for year

95,304

547,695

642,999

Eliminated on disposal

-

(267,305

)

(267,305

)

At 31 December 2025

685,396

4,157,251

4,842,647

NET BOOK VALUE

At 31 December 2025

1,874,719

4,694,316

6,569,035

At 31 December 2024

1,467,196

3,965,798

5,432,994

Cost or valuation at 31 December 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

2,560,115

8,851,567

11,411,682

The net book value of tangible fixed assets includes £ 905,911 (2024 - £ 712,431 ) in respect of assets held under hire purchase contracts and finance leases.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2025

and 31 December 2025

1

NET BOOK VALUE

At 31 December 2025

1

At 31 December 2024

1

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

2,209,342

2,013,131

Other debtors

548,368

126,956

2,757,710

2,140,087

Amounts falling due after more than one year:

Other debtors

420,000

420,000

Aggregate amounts

3,177,710

2,560,087

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

338,886

333,850

Hire purchase contracts and finance leases

197,057

146,218

Trade creditors

1,082,286

624,961

Taxation and social security

257,388

304,586

Other creditors

832,315

828,774

2,707,932

2,238,389

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,812,839

3,164,384

Hire purchase contracts and finance leases

201,728

139,285

3,014,567

3,303,669

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

406,000

406,000

Repayable by instalments

Bank loans

1,652,055

1,784,929

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

3,151,725

3,498,234

Hire purchase contracts and finance leases

398,785

285,503

3,550,510

3,783,737

The hire purchase and lease purchase liabilities are secured on the assets to which they relate.

The bank overdraft is secured by a debenture over the company's assets dated 10 May 2010 in favour of the National Westminster Bank Plc.

The bank loans are secured by various charges over land in favour of the Agricultural Mortgage Company Plc and the National Westminster Bank Plc.

The amount within other creditors which are loans for the purchase of plant and machinery are secured upon the equipment to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10,000

Ordinary shares

£1

10,000

10,000

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

£

A R Craven

Balance outstanding at start of year

(1,507

)

(6,529

)

Amounts advanced

10,078

5,022

Amounts repaid

(1,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,571

(1,507

)

Mrs J M Craven

Balance outstanding at start of year

6,913

(10

)

Amounts advanced

449,253

6,923

Amounts repaid

(317

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

455,849

6,913

At the year end date the company owed the directors £Nil (2024: £1,507). The loans are unsecured, interest free and repayable on demand.

12.	RELATED PARTY DISCLOSURES

The parent company, Craven Farm Holdings Ltd, owns 100% of the company's ordinary shares.