REGISTERED NUMBER: 01150518 (England and Wales)

Financial Statements

for the Year Ended 15 April 2026

for

D.F. MEANWELL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M J Pepperdine

Mr A D Pepperdine

SECRETARY:

Mrs M J Pepperdine

REGISTERED OFFICE:

Grange Farm

High Street

Harmston

LINCOLN

Lincolnshire

LN5 9SN

REGISTERED NUMBER:

01150518 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

HSBC Bank Plc

221 High Street

Lincoln

Lincolnshire

LN1 1TS

FIXED ASSETS

Tangible assets

3

2,568,545

2,685,165

Investments

4

2

2

2,568,547

2,685,167

CURRENT ASSETS

Stocks

260,468

252,027

Debtors

5

43,901

30,320

Cash at bank

139

136

304,508

282,483

CREDITORS

Amounts falling due within one year

6

341,088

180,882

NET CURRENT (LIABILITIES)/ASSETS

(36,580

)

101,601

TOTAL ASSETS LESS CURRENT LIABILITIES

2,531,967

2,786,768

CREDITORS

Amounts falling due after more than one year

7

(188,241

)

(215,914

)

PROVISIONS FOR LIABILITIES

(105,308

)

(129,139

)

NET ASSETS

2,238,418

2,441,715

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,238,318

2,441,615

SHAREHOLDERS' FUNDS

2,238,418

2,441,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 15 April 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 15 April 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 16 October 2026 and were signed on its behalf by:

Mrs M J Pepperdine - Director

1.	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.

Turnover

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

Intangible fixed assets

The intangible fixed assets shown partly comprise entitlements relating to land purchased during the year to 15 April 2007. These entitlements were fully amortised over a seven year period.

The remainder of intangible fixed assets is represented by a sugar beet contracted tonnage entitlement which was purchased during the year to 15 April 2011 and has been fully amortised over a five year period.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

1.3333% on cost to allow for land value

Plant and machinery

-

25% on reducing balance, 15% on reducing balance and 10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

The cost of crops and tenantright includes all production overheads and depreciation, and the attributable proportion of indirect overheads.

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.

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.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2025 - 3 ) .

3.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 16 April 2025

2,386,919

1,447,296

138,333

5,860

3,978,408

Additions

-

-

-

250

250

Disposals

-

-

(73,000

)

-

(73,000

)

At 15 April 2026

2,386,919

1,447,296

65,333

6,110

3,905,658

DEPRECIATION

At 16 April 2025

297,205

922,591

69,005

4,442

1,293,243

Charge for year

16,560

65,793

11,739

408

94,500

Eliminated on disposal

-

-

(50,630

)

-

(50,630

)

At 15 April 2026

313,765

988,384

30,114

4,850

1,337,113

NET BOOK VALUE

At 15 April 2026

2,073,154

458,912

35,219

1,260

2,568,545

At 15 April 2025

2,089,714

524,705

69,328

1,418

2,685,165

Included in cost of land and buildings is freehold land of £ 1,426,848 (2025 - £ 1,426,848 ) which is not depreciated.

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 16 April 2025

and 15 April 2026

2

NET BOOK VALUE

At 15 April 2026

2

At 15 April 2025

2

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

9,541

4,626

Tax

21,147

-

VAT

7,386

17,696

Prepayments and accrued income

5,827

7,998

43,901

30,320

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

233,739

31,782

Trade creditors

77,493

100,211

Tax

-

21,153

Other taxes

-

882

Directors' loan accounts

4,625

3,465

Accruals and deferred income

25,231

23,389

341,088

180,882

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans - 1-2 years

25,298

22,923

Bank loans - 2-5 years

71,906

95,177

Bank loans more 5 yr by instal

91,037

97,814

188,241

215,914

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

91,037

97,814

8.	RELATED PARTY DISCLOSURES

D F Meanwell Limited paid rent of £8,228 during the year (2025: £11,145) for land belonging to Mrs M J Pepperdine's SIPP.