Year Ended
Registration number:
C R Down Farming Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
C R Down Farming Limited
Company Information
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Directors |
Mr C R Down Mrs K J Down |
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Registered office |
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Auditors |
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C R Down Farming Limited
Strategic Report for the Year Ended 31 January 2026
The directors present their strategic report for the year ended 31 January 2026.
Principal activity
The principal activity of the company is pig farming and agricultural contracting.
Fair review of the business
Company turnover decreased from £16.0m in 2025 to £14.6m in 2026. Gross profit was £1.81m (2025: £1.97m), with the gross profit margin remaining at 12.4%.
The Company reported a profit before tax of £1.23m (2025: £1.58m) and a profit after tax of £1.27m (2025: £1.36m).
As at the balance sheet date, the Company had net current assets of £4.27m (2025: £3.32m) and net assets of £7.03m (2025: £5.76m).
The key performance indicators of the Company are turnover and gross profit margin.
Principal risks and uncertainties
The Company operates in a market subject to fluctuations in pig prices and input costs, particularly feed.
The Company works closely with its principal customers to support consistent and reliable supply. These established relationships form an important part of the Company's approach to managing changing market conditions.
The Company continues to drive production efficiency and maintain high standards of animal health and welfare through investment in its facilities and improvements to its operating practices. These priorities support the long-term development of the business and its ability to meet customer requirements.
Approved and authorised by the
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C R Down Farming Limited
Directors' Report for the Year Ended 31 January 2026
The directors present their report and the financial statements for the year ended 31 January 2026.
Directors of the company
The directors who held office during the year were as follows:
Dividends
Ordinary dividends were paid amounting to £1,000 (2025: £nil).
Financial instruments
Price risk, credit risk, liquidity risk and cash flow risk
The company maintains a variety of facilities, including bank overdrafts, bank loans, trade creditors, trade debtors, hire purchase arrangements and loans to and from connected parties as its principal financial instruments. The purpose of these financial instruments is to provide finance for the group's day to day operations and to fund asset purchases to support those activities, as necessary.
Liquidity risk on the overdraft facility is managed by balancing expenditure with available income streams. The overdraft incurs interest at floating rates. The liquidity risk associated with hire purchase arrangements and other loans from financial institutions is managed by ensuring that sufficient funds are available to meet interest and capital calls as they are made. These loans carry a mixture of fixed and variable rates of interest so there is some exposure to changes in Bank of England Base Rate.
Trade debtors are predominantly major UK food processing companies who operate on contractual payment terms which present minimal bad debt risk. Trade creditors represent a range of enterprises used to service business operations. Settlement is achieved through the bank overdraft facility and managed by balancing receipts from trade debtors with payments to trade creditors.
Loans to and from connected parties are repayable as cash flow permits.
Future developments
The directors anticipate that the company will continue to operate within its current principal activities for the foreseeable future. The focus will remain on delivering value to customers, maintaining effective cost controls and supporting the long-term sustainability of the business. The directors will continue to review business performance and investment opportunities as they arise, whilst managing the risks associated with the wider economic environment. No significant changes to the nature of the company's activities are currently envisaged.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
C R Down Farming Limited
Directors' Report for the Year Ended 31 January 2026
Approved and authorised by the
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C R Down Farming Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual 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). 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:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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.
C R Down Farming Limited
Independent Auditor's Report to the Members of C R Down Farming Limited
Opinion
We have audited the financial statements of C R Down Farming Limited (the 'company') for the year ended 31 January 2026, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, 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 the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 January 2026 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
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 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 opinion.
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 were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
C R Down Farming Limited
Independent Auditor's Report to the Members of C R Down Farming Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or 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; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 5, 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 is 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.
Auditor 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 an auditor’s report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
C R Down Farming Limited
Independent Auditor's Report to the Members of C R Down Farming Limited
Based on our understanding of the company and the industry in which it operates, we identified the principal risks of non-compliance with laws and regulations as relating to breaches around health and safety regulations, the General Data Protection Regulations ("GDPR") and the animal welfare regulations. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as The Companies Act 2006, and relevant tax legislation.
We also evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks were related to the understatement of profit, either through understating revenue, overstating expenditure or management bias in accounting estimates.
Based on this understanding we designed our audit procedures to identify irregularities. Our procedures involved the following:
● Enquiries to members of senior management regarding their knowledge of any non-compliance or potential non-compliance with laws and regulations that could affect the financial statements. As part of these enquiries we also discussed with management whether there have been any known instances of material fraud, of which there were none;
● Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
● Review of any health and safety incidents which have been reported under The Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013 (“RIDDOR”) during the period;
● Review of the company's procedures in relation to GDPR and enquiries to management as to the occurrence and outcome of any reportable breaches;
● Review of animal welfare compliance reports, and enquiries of management in relation to any ongoing animal welfare reviews and communications;
● Reviewing the appropriateness and adequacy of management's stock valuation;
● Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;
● Challenging assumptions and judgements made by management in its significant accounting estimates;
● Testing, on a sample basis, the recognition of revenue and costs, in particular around the year end date; and
● Examining draft tax computations and involving the use of our specialists.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal controls. We are also less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
C R Down Farming Limited
Independent Auditor's Report to the Members of C R Down Farming Limited
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 an auditor’s report 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.
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Centenary House
Peninsula Park
Rydon Lane
EX2 7XE
C R Down Farming Limited
Profit and Loss Account
Year Ended 31 January 2026
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Note |
2026 |
2025 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Other operating income |
|
|
|
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Operating profit |
1,567,636 |
1,943,729 |
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Other interest receivable and similar income |
- |
|
|
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Interest payable and similar expenses |
( |
( |
|
|
(335,996) |
(368,220) |
||
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Profit before tax |
|
|
|
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Tax on profit |
|
( |
|
|
Profit for the financial year |
|
|
C R Down Farming Limited
Balance Sheet
31 January 2026
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Note |
2026 |
2025 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Investments |
|
- |
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Other financial assets |
100,001 |
100,001 |
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|
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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|
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Total assets less current liabilities |
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|
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Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
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|
Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved and authorised by the
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Company Registration Number: 09168966
C R Down Farming Limited
Statement of Changes in Equity
Year Ended 31 January 2026
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Share capital |
Profit and loss account |
Total |
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At 1 February 2025 |
|
|
|
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Profit for the year |
- |
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Dividends |
- |
( |
( |
|
At 31 January 2026 |
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|
|
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Share capital |
Profit and loss account |
Total |
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|
At 1 February 2024 |
|
|
|
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Profit for the year |
- |
|
|
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At 31 January 2025 |
2 |
5,756,704 |
5,756,706 |
C R Down Farming Limited
Statement of Cash Flows
Year Ended 31 January 2026
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Note |
2026 |
2025 |
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Cash flows from operating activities |
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Profit for the year |
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|
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Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
|
|
|
|
Loss/(profit) on disposal of tangible assets |
|
( |
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Finance income |
- |
( |
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|
Finance costs |
|
|
|
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Income tax expense |
( |
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|
|
|
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||
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Working capital adjustments |
|||
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(Increase)/decrease in stocks |
( |
|
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Decrease/(increase) in trade debtors |
|
( |
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Decrease in trade creditors |
( |
( |
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|
Cash generated from operations |
|
|
|
|
Income taxes received/(paid) |
|
( |
|
|
Net cash flow from operating activities |
|
|
|
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Cash flows from investing activities |
|||
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Interest received |
- |
|
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Acquisitions of tangible assets |
( |
( |
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Proceeds from sale of tangible assets |
|
|
|
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Acquisition of investments in joint ventures and associates |
( |
- |
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Acquisition of financial investments other than trading investments |
- |
( |
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Net cash flows from investing activities |
( |
( |
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Cash flows from financing activities |
|||
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Interest paid |
( |
( |
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Proceeds from bank borrowing draw downs |
- |
|
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Repayment of bank borrowing |
( |
( |
|
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Drawdown of hire purchase agreements |
|
- |
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Payments to finance lease creditors |
( |
( |
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Dividends paid |
( |
- |
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Net cash flows from financing activities |
( |
( |
|
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Net decrease in cash and cash equivalents |
( |
( |
|
|
Cash and cash equivalents at 1 February |
( |
( |
|
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Cash and cash equivalents at 31 January |
(258,921) |
(219,346) |
|
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The principal place of business is:
Hayes Barton
East Budleigh
Budleigh Salterton
Exeter
Devon
EX9 7BS
These financial statements were authorised for issue by the
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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 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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 functional currency is considered to be pounds sterling because that is the currency of the primary economic environment in which the company oeprates in.
Going concern
The directors are satisfied that the company has adequate resources available to discharge its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements and the company therefore continues to adopt the going concern basis in preparing its financial statements.
In making their assessment, the directors have fully considered the impact of the current economic environment and its potential impact on cash flow, working capital requirements and the ability for the company to service its loan finance.
Changes to FRS 102 in future periods
The Financial Reporting Council has published changes to FRS 102 which will take effect in next year’s financial statements. The main rule changes are to revenue and leases.
There is no requirement to restate figures from previous years, so we do not expect any changes to the figures we report here for the year ended 31 January 2026 or any earlier periods.
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
Income from the sale of pigs is recognised at the point of dispatch and income from agricultural contracting is recognised at the point at which the service has been provided to the customer.
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 corporation 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 on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet 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:
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Asset class |
Depreciation method and rate |
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Land and buildings |
2% straight line |
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Plant and equipment |
5% - 15% reducing balance |
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Motor vehicles |
20% reducing balance |
Additions receive a full year of depreciation in the year of purchase.
Investment property
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of pigs include an accumulation of feed, labour and other direct costs.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Hire purchase contracts;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans and hire purchase contracts, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans and hire purchase contracts are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
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Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
|
2026 |
2025 |
|
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Farming |
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Renewable energy and other income |
|
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C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
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Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2026 |
2025 |
|
|
Rental income |
|
|
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Operating profit |
Arrived at after charging/(crediting)
|
2026 |
2025 |
|
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Depreciation expense |
|
|
|
Operating lease expense - plant and machinery |
|
|
|
Operating lease expense - other |
|
|
|
Loss/(profit) on disposal of property, plant and equipment |
|
( |
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2026 |
2025 |
|
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Wages and salaries |
|
|
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Social security costs |
|
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Pension costs, defined contribution scheme |
|
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The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2026 |
2025 |
|
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Production |
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Directors' remuneration |
C R Down Farming Limited directors are not paid through the company and therefore there is no directors' remuneration to disclose.
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
|
Auditor's remuneration |
|
2026 |
2025 |
|
|
Audit of the financial statements |
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Other interest receivable and similar income |
|
2026 |
2025 |
|
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Other finance income |
- |
|
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Interest payable and similar expenses |
|
2026 |
2025 |
|
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Interest on bank overdrafts and borrowings |
|
|
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Interest on obligations under finance leases and hire purchase contracts |
|
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Interest expense on other finance liabilities |
|
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|
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Taxation |
Tax charged/(credited) in the profit and loss account
|
2026 |
2025 |
|
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Current taxation |
||
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UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
|
|
(89,054) |
321,054 |
|
|
Deferred taxation |
||
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Arising from origination and reversal of timing differences |
|
( |
|
Tax (receipt)/expense in the income statement |
( |
|
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2025 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2026 |
2025 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Decrease in UK and foreign current tax from adjustment for prior periods |
( |
( |
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Tax decrease arising from group relief |
( |
- |
|
Tax decrease from effect of adjustment in research and development tax credit |
- |
( |
|
Tax increase from other tax effects |
|
- |
|
Total tax (credit)/charge |
( |
|
Deferred tax
Deferred tax assets and liabilities
|
2026 |
Asset |
Liability |
|
Differences between accumulated depreciation and amortisation |
- |
|
|
Other timing differences |
- |
|
|
Capital gains |
- |
|
|
- |
|
|
2025 |
Asset |
Liability |
|
Differences between accumulated depreciation and amortisation |
- |
|
|
Capital gains |
- |
|
|
- |
|
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
|
Tangible assets |
|
Land and buildings |
Motor vehicles |
Plant and machinery |
Total |
|
|
Cost or valuation |
||||
|
At 1 February 2025 |
|
|
|
|
|
Additions |
- |
|
|
|
|
Disposals |
- |
- |
( |
( |
|
At 31 January 2026 |
|
|
|
|
|
Depreciation |
||||
|
At 1 February 2025 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
( |
|
At 31 January 2026 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 January 2026 |
|
|
|
|
|
At 31 January 2025 |
|
|
|
|
Included within the net book value of land and buildings above is £738,509 (2025 - £748,670) in respect of freehold land and buildings.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2026 |
2025 |
|
|
Plant and machinery |
185,192 |
560,453 |
|
Investment properties |
|
2026 |
|
|
At 1 February |
|
|
At 31 January |
|
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
The fair value of investment properties has been determined by the directors based on a combination of net present value and return on investment calculations, having regard to the terms of leases with property tenants. There have been no independent professional valuations of the properties concerned. The directors keep the valuation of the properties under review and movements in fair value are accounted for when there is an indication of a material change.
|
Investments |
|
2026 |
2025 |
|
|
Investments in associates |
|
- |
|
Associates |
£ |
|
Cost |
|
|
Additions |
|
|
Provision |
|
|
Carrying amount |
|
|
At 31 January 2026 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2026 |
2025 |
|||
|
Associates |
||||
|
|
Lorams, Perkins Village, Exeter, EX5 2JG |
Ordinary |
|
|
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
|
Other investments |
|
Other investments |
Total |
|
|
Non-current financial assets |
||
|
Cost or valuation |
||
|
At 1 February 2025 |
100,001 |
100,001 |
|
At 31 January 2026 |
100,001 |
100,001 |
|
Impairment |
||
|
Carrying amount |
||
|
At 31 January 2026 |
|
100,001 |
|
Stocks |
|
2026 |
2025 |
|
|
Livestock |
|
|
|
Debtors |
|
Note |
2026 |
2025 |
|
|
Trade debtors |
|
|
|
|
Amounts owed by group undertakings |
|
- |
|
|
Other debtors |
|
|
|
|
Prepayments |
|
|
|
|
Income tax asset |
- |
|
|
|
|
|
|
Cash and cash equivalents |
|
2026 |
2025 |
|
|
Cash at bank |
|
|
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
|
Analysis of changes in net debt |
|
At 1 February 2025 |
Financing cash flows |
New finance leases |
At 31 January 2026 |
|
|
Cash and cash equivalents |
||||
|
Cash |
778 |
(382) |
- |
396 |
|
Overdrafts |
(118,106) |
(141,211) |
- |
(259,317) |
|
(117,328) |
(141,593) |
- |
(258,921) |
|
|
Borrowings |
||||
|
Borrowings excluding overdrafts |
(2,314,276) |
93,106 |
- |
(2,221,170) |
|
Lease liabilities |
(111,027) |
83,653 |
(74,877) |
(102,251) |
|
(2,425,303) |
176,759 |
(74,877) |
(2,323,421) |
|
|
( |
|
( |
( |
|
|
|
||||
|
Creditors |
|
Note |
2026 |
2025 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other creditors |
|
|
|
|
Accruals |
|
|
|
|
Corporation tax |
155,000 |
279,054 |
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
|
Loans and borrowings |
Non-current loans and borrowings
|
2026 |
2025 |
|
|
Bank borrowings |
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
Current loans and borrowings
|
2026 |
2025 |
|
|
Bank borrowings |
|
|
|
Bank overdrafts |
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
Bank loans and overdrafts are secured over assets of the company and by personal guarantees given by the company's directors / ultimate shareholders.
Hire purchase contracts are secured on assets they relate to.
The company's bank loans are repayable over total periods of between 15 and 25 years and bear interest at variable rates.
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
|
Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
Operating leases - lessor
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
Leases are in place with third parties in connection with the company's investment properties. The leases include upwards only rent reviews based on the Retail Price Index.
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 February 2025 |
|
|
|
Additional provisions |
|
|
|
At 31 January 2026 |
|
|
|
|
||
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
2 |
|
2 |
|
Dividends |
|
2026 |
2025 |
|||
|
£ |
£ |
|||
|
Final dividend of £Nil (2025 - £Nil) per ordinary share |
- |
- |
||
|
Interim dividend of £ |
1,000 |
- |
||
|
1,000 |
- |
|||
|
Parent and ultimate parent undertaking |
The company's immediate parent is
Greenridge Holdings Ltd became the immediate and ultimate parent undertaking during the year. Consolidated financial statements have not been prepared for Greenridge Holdings Ltd as it qualifies as a small company for the period 1 July 2025 to 31 January 2026. Greenridge Holdings Ltd company financial statements are available from Companies House.
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
C R Down Farming Limited
Notes to the Financial Statements
Year Ended 31 January 2026
|
Related party transactions |
Transactions with related parties
A company related to two of the director-shareholders of the company:
These financial statements reflect costs totalling £1,019 (2025 - £2,531) and sales of £11,258 (2025 - £13,388) for goods and services supplied by and to a company of which the directors and shareholders of this company are also directors. The total due from this company under common control was £9,064 (2025 - £3,294).
A company related to two of the director-shareholders of the company:
A loan continued to be provided by a company under common control. Interest was charged at 3% (2025 - 7.5%) per annum. At the balance sheet date, the amount due to this company was £2,965,656 (2025 - £2,985,314).
A company related to two of the director-shareholders of the company:
These financial statements reflect costs totalling £3,876,613 (2025 - £2,652,077) and sales of £216,599 (2025 - £180,751) for goods and services supplied by and to a company of which the directors and shareholders of this company are also directors. The total due from this company under common control was £1,476,909 (2025 - £1,748,721). There was no interest charged during the year.
A company related to one of the director-shareholders of the company:
The total due from this company was £35,000 (2025 - £35,000).
Partnerships related to two of the director-shareholders of the company:
These financial statements reflect costs totalling £3,774,058 (2025 - £5,821,691) and sales of £438,204 (2025 - £380,322) for goods and services supplied by and to partnerships of which the directors and shareholders of this company are also partners. The aggregate amount due from these partnerships under common control was £904,563 (2025 - £1,655,225).
At the balance sheet date, interest free loan balances totalling £91,929 (2025: £91,443) were owed to the company directors.