REGISTERED NUMBER: 02703091 (England and Wales)

Tulipland Potatoes Limited

Strategic Report, Directors' Report and

Audited Financial Statements

for the Year Ended 31 March 2026

Page

Company information

1

Strategic report

2

Directors' report

4

Report of the independent auditors

5

Statement of comprehensive income

9

Statement of financial position

10

Statement of changes in equity

11

Notes to the financial statements

12

Directors:

Miss J M Stanberry

Miss M Stanberry

Registered office:

Fengate

Moulton Chapel

Spalding

Lincolnshire

PE12 0XL

Registered number:

02703091 (England and Wales)

Auditors:

Sumer Auditco Limited

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The directors present their strategic report for the year ended 31 March 2026.

Review of business

The company's principal activity is the supply of fresh potatoes to retailers, wholesalers, processors and food service providers.

The season started off with prices significantly lower than expected due to a high yield despite a spell of drought, as a result turnover decreased.

Forecasting in the fresh produce industry can be notoriously challenging, especially when trying to factor in the impact of changing weather patterns.

Our continued understanding, of the marketplace through the knowledge of key staff along with procuring quality product at a realistic price has enabled Tulipland Potatoes to offer fixed prices and supply with confidence, for one, three and indeed six months, as the market is dictating. We continue to develop and maintain strong relationships with customers and suppliers who we have dealt with for many years.

Principal risks and uncertainties

The company's risk management process seeks to facilitate the early identification, evaluation and management of any significant operational risks facing the business to ensure adequate internal controls are in place to mitigate these risks. The key risks are reviewed annually by senior management.

Tulipland Potatoes Limited has a strong cash flow position which has allowed it to procure potatoes, giving farmers and other suppliers confidence that they will be paid. Debtors are monitored, monies chased regularly and payment patterns analysed.

Overheads continued to be closely monitored, especially as utility bills, insurance and wages all continue to increase.

Competition

The business operates in a highly competitive market. This could result in us not meeting all our customers' expectations. In order to mitigate this risk our senior managers and factory staff work closely with customers to ensure that all deliveries are made to their expectations and timescales, and that quality and price requirements are met.

Expenditure

The company has had a number of years of capital expenditure predominantly to automate and keep packing costs to a manageable rate. Although, with factory floorspace now fully utilised it is virtually impossible to continue this trend and the company has recently concentrated on repairs, renewals and servicing as its priority in order to maintain its long-term operational capacity.

Crop traceability

The work involved in traceability etc continues to increase, as customers place more and more emphasis on full traceability of their products. This increased workload, involving significant technical data analysis, continues to be actively monitored by the company's dedicated members of staff and overviewed on a regular basis by the company's senior management to ensure the company is being as pro-active as possible in this area.

The company continues to retain is AA+ grade BRCGS Food Safety accreditation.

The impact of the company’s operations on the community and the environment

We operate within the agriculture sector so fully understand that it is important for the long-term future of our business that we protect and enhance our environment.

Our packhouse draws a large portion of its energy requirements from the solar panels on the roof. The rest of the electricity the company uses comes from a company which specialises in the supply of green electricity.

As a family business we've always believes in engaging heavily with the local community and our charitable donations are a testament to this. We support two local charities with regular donations.

Employees and staff welfare

One of the greatest assets of the business continues to be its staff and the continuity of key colleagues, the company recognises this contribution in terms of staff welfare, training and benefits. Staff training is reviewed regularly, enabling key staff to have the knowledge to manage production and all aspects of onsite procedures, safety and cost efficiently. Long serving members of staff remain the backbone of the company.

Looking forward we believe Tulipland Potatoes is in a strong position to trade in any price structured market and its customer base is varied as is its supply base.

All aspects of the company look positive.

On behalf of the board:

Miss J M Stanberry - Director

24 September 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

Dividends

Interim dividends totalling £675,000 were paid during the year. No final dividend is to be paid.

The total distribution of dividends for the year ending 31 March 2026 will be £675,000.

Directors

The directors shown below have held office during the whole of the period from 1 April 2025 to the date of this report.

Miss J M Stanberry

Miss M Stanberry

Statement of directors' responsibilities

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

On behalf of the board:

Miss J M Stanberry - Director

24 September 2026

Qualified Opinion

We have audited the financial statements of Tulipland Potatoes Limited (the 'company') for the year ended 31 March 2026 which comprise the Statement of comprehensive income, Statement of financial position, Statement of changes in equity and Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects on the corresponding figures of matters described in the Basis for qualified opinion paragraph, the financial statements:

- give a true and fair view, of the state of the Company's affairs as at 31 March 2026 and of the company's profit for the period then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice seen as at the date the original financial statements were approved;

and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion

The company's financial statements were not required to be audited for the year end 31 March 2024 and as such we did not attend the stock count and audit stock at 31 March 2024 and thus did not observe the counting of physical inventories at the end of that year. On our appointment as auditor for the year ended 31 March 2025 we were unable to satisfy ourselves by alternative means concerning only the existence and condition of stock of £251,509 held at 31 March 2024. Consequently, we were unable to determine whether any adjustment to this amount at 31 March 2024 was necessary or whether there was any consequential effect on the prior year cost of sales for the year ended 31 March 2025.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Our audit opinion on the financial statements for the period ended 31 March 2025 was modified accordingly. Our opinion on the current period’s financial statements is also modified because of the possible effect of this matter on the comparability of the current period’s figures and the corresponding figures.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic report and the Directors' report, but does not include the financial statements and our Report of the auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, in the light of the knowledge and understanding of the entity company and its environment obtained in the course of the audit, we have not identified material misstatements in the company strategic report or the directors' report.

Arising solely from the limitation on the scope of our work relating to inventory held at 31 March 2024 and its impact on the corresponding figures for the year ended 31 March 2025, referred to above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

- we were unable to determine whether adequate accounting records have been kept.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made.

Responsibilities of directors

As explained more fully in the Statement of directors' responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including such as the Companies Act 2006 and taxation legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- investigated the rationale behind significant or unusual transactions;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims;

- reviewing correspondence with HMRC.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Hannah Butcher (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

30 September 2026

Turnover

12,614,540

17,868,237

Cost of sales

7,845,882

14,163,199

Gross profit

4,768,658

3,705,038

Administrative expenses

2,813,638

1,660,499

1,955,020

2,044,539

Other operating income

3,937

4,327

Operating profit

5

1,958,957

2,048,866

Interest receivable and similar income

117,872

100,009

2,076,829

2,148,875

Gain/loss on revaluation of assets

179,979

-

2,256,808

2,148,875

Interest payable and similar expenses

6

8,522

3,770

Profit before taxation

2,248,286

2,145,105

Tax on profit

7

573,942

585,094

Profit for the financial year

1,674,344

1,560,011

Other comprehensive income

-

-

Total comprehensive income for the year

1,674,344

1,560,011

Fixed assets

Tangible assets

10

901,749

881,109

Investment property

11

130,000

253,673

1,031,749

1,134,782

Current assets

Stocks

12

103,560

267,800

Debtors

13

1,537,545

2,022,487

Investments

14

6,278,881

5,926,214

Cash at bank

1,519,287

923,548

9,439,273

9,140,049

Creditors

Amounts falling due within one year

15

935,064

1,781,182

Net current assets

8,504,209

7,358,867

Total assets less current liabilities

9,535,958

8,493,649

Provisions for liabilities

17

156,241

113,276

Net assets

9,379,717

8,380,373

Capital and reserves

Called up share capital

18

100

100

Non-distributable reserve

19

181,991

47,006

Retained earnings

19

9,197,626

8,333,267

Shareholders' funds

9,379,717

8,380,373

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2026 and were signed on its behalf by:

Miss J M Stanberry - Director

Miss M Stanberry - Director

Called up

share

Retained

Non-distributable

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2024

100

6,991,826

4,436

6,996,362

Changes in equity

Profit for the year

-

1,560,011

-

1,560,011

Other comprehensive income

-

(42,570

)

42,570

-

Total comprehensive income

-

1,517,441

42,570

1,560,011

Dividends

-

(176,000

)

-

(176,000

)

Balance at 31 March 2025

100

8,333,267

47,006

8,380,373

Changes in equity

Profit for the year

-

1,674,344

-

1,674,344

Other comprehensive income

-

(134,985

)

134,985

-

Total comprehensive income

-

1,539,359

134,985

1,674,344

Dividends

-

(675,000

)

-

(675,000

)

Balance at 31 March 2026

100

9,197,626

181,991

9,379,717

1.	Statutory information

Tulipland Potatoes 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.	Statement of compliance

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" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 33.7.

Significant judgements and estimates

In the process of applying the entity’s accounting policies, management has not made any judgements that have a significant effect on the amounts recognised in the financial statements.

Management has also assessed that there are no key sources of estimation uncertainty that could result in a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

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

Freehold property

-

2% straight line, land no depreciation

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Impairment of fixed assets

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

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is reflected in non distribuatble reserves.

Stocks

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

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Defined contribution plans

The company operates a defined contribution pension scheme for some employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged as an expense in the period in which the related service is provided.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Investments

Investments are initially recorded at cost, and are subsequently revalued and are recorded at the fair value at the date of revaluation, as determined by reference to an active market.

4.	Employees and directors

2026

2025

as

restated

£

£

Wages and salaries

1,645,083

871,387

Social security costs

224,140

92,372

Other pension costs

300,072

182,446

2,169,295

1,146,205

The average number of employees during the year was as follows:

2026

2025

as

restated

Directors

2

2

Administration

2

2

Operations

14

15

18

19

2026

2025

as

restated

£

£

Directors' remuneration

963,320

183,320

Information regarding the highest paid director for the year ended 31 March 2026 is as follows:

2026

£

Emoluments etc

950,000

5.	Operating profit

The operating profit is stated after charging:

2026

2025

as

restated

£

£

Hire of plant and machinery

731

725

Other operating leases

12,344

13,853

Depreciation - owned assets

111,467

132,132

Loss on disposal of fixed assets

367

3,020

Auditors' remuneration

4,500

3,500

6.

Interest payable and similar expenses

2026

2025

as

restated

£

£

HMRC interest

8,478

3,770

Late payment interest for PAYE

44

-

8,522

3,770

7.

Taxation

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2026

2025

as

restated

£

£

Current tax:

UK corporation tax

530,977

540,201

Corporation tax - earlier year

-

39,938

Total current tax

530,977

580,139

Deferred tax

42,965

4,955

Tax on profit

573,942

585,094

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2026

2025

as

restated

£

£

Profit before tax

2,248,286

2,145,105

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

562,072

536,276

Effects of:

Expenses not deductible for tax purposes

9,080

5,280

Depreciation in excess of capital allowances

3,596

3,600

Reversal of prior year overprovision

(806

)

39,938

Total tax charge

573,942

585,094

8.

Dividends

2026

2025

as

restated

£

£

Ordinary shares of 1 each

Interim

675,000

176,000

9.	Prior year adjustment

An amount of £2,863,539 has been reclassified from Cash at bank to Investments. There is no impact on Net assets.

10.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 April 2025

707,716

1,859,887

47,676

136,114

2,751,393

Additions

10,000

52,601

-

83,668

146,269

Disposals

-

(29,795

)

(494

)

-

(30,289

)

At 31 March 2026

717,716

1,882,693

47,182

219,782

2,867,373

Depreciation

At 1 April 2025

282,636

1,471,081

37,179

79,388

1,870,284

Charge for year

14,080

79,111

2,099

16,177

111,467

Eliminated on disposal

-

(15,660

)

(467

)

-

(16,127

)

At 31 March 2026

296,716

1,534,532

38,811

95,565

1,965,624

Net book value

At 31 March 2026

421,000

348,161

8,371

124,217

901,749

At 31 March 2025

425,080

388,806

10,497

56,726

881,109

Included within the cost of land and buildings of £717,716 (2025 - £707,716) is £13,709 (2025 - £3,709) relating to non depreciable land costs.

11.	Investment property

Total

£

Fair value

At 1 April 2025

253,673

Revaluations

(113,673

)

Reclassification

(10,000

)

At 31 March 2026

130,000

Net book value

At 31 March 2026

130,000

At 31 March 2025

253,673