Registration number:
J.P. Matthews Limited
for the Year Ended 31 December 2025
J.P. Matthews Limited
(Registration number: 00679966)
Statement of Financial Position as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investment property |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Stocks |
- |
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
1,700 |
1,700 |
|
|
Share premium reserve |
411,940 |
411,940 |
|
|
Profit and loss account |
4,496,317 |
4,211,279 |
|
|
Shareholders' funds |
4,909,957 |
4,624,919 |
For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
|
• |
|
|
• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
J.P. Matthews Limited
(Registration number: 00679966)
Statement of Financial Position as at 31 December 2025 (continued)
|
|
J.P. Matthews Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
|
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
Principal activity
The principal activity of the company is farming, including pig rearing and grass sales.
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling which is the functional currency of the entity.
J.P. Matthews Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
|
2 |
Accounting policies (continued) |
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. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Revenue recognition
Turnover is measured at the fair value of the consideration net of sale charges received or receivable and represents amounts receivable for livestock supplied, and use of land, stated net of discounts and Value Added Tax.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Plant & Machinery |
10% straight line |
|
Equipment |
20% straight line |
|
Improvements |
10% straight line |
J.P. Matthews Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
|
2 |
Accounting policies (continued) |
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Investment property
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Financial instruments
Recognition and measurement
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.
J.P. Matthews Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
|
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
|
Tangible assets |
|
Land and buildings |
Improvements |
Plant and machinery |
Total |
|
|
Cost or valuation |
||||
|
At 1 January 2025 |
|
|
|
|
|
At 31 December 2025 |
|
|
|
|
|
Depreciation |
||||
|
At 1 January 2025 |
- |
|
|
|
|
Charge for the year |
- |
- |
|
|
|
At 31 December 2025 |
- |
|
|
|
|
Carrying amount |
||||
|
At 31 December 2025 |
|
- |
|
|
|
At 31 December 2024 |
|
- |
|
|
The land and buildings are held at a value of £3,586,442. They have a historical cost of £2,734,417.
At 31 December 2023 the director revalued the agricultural land based on the market values at the time of revaluation. In the opinion of the director, these valuations are still valid at 31 December 2025.
|
Investment properties |
|
2025 |
|
|
At 1 January |
|
|
Fair value adjustments |
( |
|
At 31 December |
|
J.P. Matthews Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
|
5 |
Investment properties (continued) |
Ferndale is held at a value of £392,000. The property has a historical cost of £319,763.
Kierlsgate Cottage is held at a value of £294,000. The property has a historical cost of £3,386.
Old School House is valued at £313,600. The property has a historical cost of £74,705.
At 31 December 2025, the director revalued the investment properties based on the market values at the time of revaluation.
|
Stocks |
|
2025 |
2024 |
|
|
Other inventories |
- |
|
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
2025 |
2024 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Taxation and social security |
|
- |
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
|
Reserves |
Profit and loss account:
This reserve records retained earnings and accumulated losses. This reserve includes £1,474,171 of non distributable reserves.
J.P. Matthews Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
|
Related party transactions |
Summary of transactions with all entities with joint control or significant interest
During the year the company paid for management charges totalling £113,412 (2024 £19,765) and sold goods to the value of £32,574 (2024 £51,139) to Stockcroft Limited, a company in which Mrs Stockings is a director. In addition, the company also purchased animals to a value of £380,800 (2024 £462,360) from Fawley Farms Limited, a company in which Mrs S Stockings is a director