Company No: 00716960 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	715,909		672,982
Biological assets	5	45,899		49,933
Investments	6	0		250
		761,808		723,165
Current assets
Stocks		163,388		228,595
Debtors	7	140,704		186,099
Cash at bank and in hand		146,778		101,231
		450,870		515,925
Creditors: amounts falling due within one year	8	( 163,468)		( 169,287)
Net current assets		287,402		346,638
Total assets less current liabilities		1,049,210		1,069,803
Creditors: amounts falling due after more than one year	9	( 514,139)		( 490,156)
Provision for liabilities		( 88,188)		( 73,072)
Net assets		446,883		506,575
Capital and reserves
Called-up share capital		20,000		20,000
Revaluation reserve		793		793
Profit and loss account		426,090		485,782
Total shareholders' funds		446,883		506,575

For the financial year ending 31 March 2025 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 W. W. Hannam & Sons Limited (registered number: 00716960) were approved and authorised for issue by the Board of Directors on 25 November 2025. They were signed on its behalf by:

Mrs S J Hannam 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

W. W. Hannam & Sons 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 North Farm Office, Tarrant Hinton, Blandford Forum, Dorset, DT11 8JA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Turnover comprises the sale of produce from farming activities. Turnover also includes Basic Payment receipts which are recognised on a calendar year basis.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

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
Leasehold improvements	25 years straight line
Plant and machinery	10 % reducing balance
Vehicles	15 % reducing balance

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 the Statement of Income and Retained Earnings.

Biological assets

Biological assets relate to a beef herd and are stated at cost less accumulated depreciation.

Depreciation is charged so as to allocate the cost of the assets less their residual value (cull value) over their estimated useful lives, being 6 years.

Leases

The Company as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Income and Retained Earnings so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Stocks

Stocks are valued at the lower of cost and net realisable value under the cost model. Where accurate cost figures are not available, the deemed cost of production has been used. For crops in store, this is 75% of market value. For cattle, this is 60% of market value.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company’s cash management.

Interest bearing bank loans, overdrafts and other loans which meet the criteria to be classified as basic financial instruments are recorded at the present value of cash payable to the bank, which is ordinarily equal to the proceeds received net of direct issue costs.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2024	52,916		52,916
At 31 March 2025	52,916		52,916
Accumulated amortisation
At 01 April 2024	52,916		52,916
At 31 March 2025	52,916		52,916
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

The above Basic Payment entitlements are linked to the Basic Payments Scheme which is being phased out. The Directors' consider the value of the entitlements to be negligible. As the entitlements has been fully amortised in the year ended 31 March 2023, no impairment charge has arisen in the year.

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Vehicles		Total
	£		£		£		£		£
Cost
At 01 April 2024	178,298		660,909		535,703		276,197		1,651,107
Additions	0		0		96,286		0		96,286
Disposals	0		0		( 9,500)		0		( 9,500)
At 31 March 2025	178,298		660,909		622,489		276,197		1,737,893
Accumulated depreciation
At 01 April 2024	0		405,454		406,767		165,904		978,125
Charge for the financial year	0		14,143		22,505		16,545		53,193
Disposals	0		0		( 9,334)		0		( 9,334)
At 31 March 2025	0		419,597		419,938		182,449		1,021,984
Net book value
At 31 March 2025	178,298		241,312		202,551		93,748		715,909
At 31 March 2024	178,298		255,455		128,936		110,293		672,982
Leased assets included above:
Net book value
At 31 March 2025	0		0		0		91,500		91,500
At 31 March 2024	0		0		0		143,647		143,647

The depreciation charge in relation to assets held under finance leases of hire purchase contracts amounted to £16,147 (2024 - £22,997) for the year.

5. Biological assets

	2025
	£
Biological assets at cost	45,899

Assets held at cost:

	Beef		Total
	£		£
Cost
At 01 April 2024	59,070		59,070
Increase due to purchases/ transfers in	4,860		4,860
Decrease attributable to sales/ transfers out	( 5,400)		( 5,400)
At 31 March 2025	58,530		58,530
Accumulated depreciation
At 01 April 2024	9,137		9,137
Charge for the financial year	3,894		3,894
Decrease attributable to sales/ transfers out	( 400)		( 400)
At 31 March 2025	12,631		12,631
Net book value
At 31 March 2025	45,899		45,899
At 31 March 2024	49,933		49,933

6. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	250		250
Disposals	( 250)		( 250)
At 31 March 2025	0		0
Carrying value at 31 March 2025	0		0
Carrying value at 31 March 2024	250		250

7. Debtors

	2025		2024
	£		£
Trade debtors	21,185		6,030
Prepayments	21,470		32,722
Other debtors	98,049		147,347
	140,704		186,099

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	21,066		29,500
Trade creditors	77,516		73,113
Accruals	14,795		23,764
Corporation tax	8,796		15,145
Obligations under finance leases and hire purchase contracts	41,295		27,765
	163,468		169,287

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

	2025		2024
	£		£
Bank loans	363,974		380,711
Other loans	15,887		13,853
Obligations under finance leases and hire purchase contracts	134,278		95,592
	514,139		490,156

Bank loans are secured on land owned by the company and the company's directors.

10. Related party transactions

Rent and wayleave charges have been made in the accounts for £55,000 and £6,858 respectively to the directors for the land farmed by the company which is owned personally. (2024: £55,000 and £6,228).

Included within other debtors is £95,439 due from the directors (2024: £119,601).