Company No: 03340649 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	David Hargrave
	Jeremy Andrew Hargrave
	Paul Matthews

SECRETARY

Ann Joyce Hargrave

REGISTERED OFFICE	Unit 6 Enterprise Way
	Wyberton Fen
	Boston
	PE21 7TW
	United Kingdom

COMPANY NUMBER

03340649 (England and Wales)

CHARTERED ACCOUNTANTS	Gascoynes
	Gascoyne House
	Moseleys Farm Business Centre
	Fornham All Saints
	Bury St Edmunds
	Suffolk
	IP28 6JY

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	206,542		193,880
		206,542		193,880
Current assets
Stocks	4	638,601		606,330
Debtors	5	331,500		361,729
Cash at bank and in hand		22,976		58,818
		993,077		1,026,877
Creditors: amounts falling due within one year	6	( 273,204)		( 279,792)
Net current assets		719,873		747,085
Total assets less current liabilities		926,415		940,965
Creditors: amounts falling due after more than one year	7	( 19,030)		( 16,871)
Provision for liabilities	8	( 11,354)		( 8,948)
Net assets		896,031		915,146
Capital and reserves
Called-up share capital	9	87		87
Capital redemption reserve		13		13
Profit and loss account		895,931		915,046
Total shareholders' funds		896,031		915,146

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Hargrave Agriculture Limited (registered number: 03340649) were approved and authorised for issue by the Board of Directors on 22 October 2026. They were signed on its behalf by:

Jeremy Andrew Hargrave Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hargrave Agriculture Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 6 Enterprise Way, Wyberton Fen, Boston, PE21 7TW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is 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 fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery etc.	3 - 6 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	17		16

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2025	146,782		230,463		377,245
Additions	0		40,195		40,195
At 31 March 2026	146,782		270,658		417,440
Accumulated depreciation
At 01 April 2025	0		183,365		183,365
Charge for the financial year	0		27,533		27,533
At 31 March 2026	0		210,898		210,898
Net book value
At 31 March 2026	146,782		59,760		206,542
At 31 March 2025	146,782		47,098		193,880

4. Stocks

	2026		2025
	£		£
Stocks	638,601		606,330

5. Debtors

	2026		2025
	£		£
Trade debtors	316,549		329,802
Other debtors	14,951		31,927
	331,500		361,729

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	1,769		10,468
Trade creditors	181,682		127,198
Taxation and social security	61,044		124,679
Obligations under finance leases and hire purchase contracts	19,315		9,628
Other creditors	9,394		7,819
	273,204		279,792

There is a mortgage debenture charge that is satisfied on 01/04/26, that is entitled by National Westminster Bank PLC.

It is a specific equitable charge over all freehold and leasehold properties and/or the proceeds of sale thereof fixed and floating charges over undertaking and all property and assets present and future including goodwill bookdebts and the benefits of any licences.

The hire purchase agreements are secured against the relevant asset being financed.

7. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	0		1,769
Obligations under finance leases and hire purchase contracts	19,030		15,102
	19,030		16,871

8. Provision for liabilities

	2026		2025
	£		£
Deferred tax	11,354		8,948

9. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
44 Ordinary A shares of £ 1.00 each	44		44
43 Ordinary B shares of £ 1.00 each	43		43
	87		87

10. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Directors loan account	(14,951)		(26,927)

The overdrawn balance has been repaid by way of dividend on 6th April 2026.