Company No: 02877267 (England and Wales)

Contents

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

DIRECTORS	D J Lewis
	R R Lewis

SECRETARY

D White

REGISTERED OFFICE	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT
	United Kingdom

COMPANY NUMBER

02877267 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	6,348		6,244
Investment property	4	8,077,477		7,273,912
		8,083,825		7,280,156
Current assets
Stocks		0		997,711
Debtors	5	196,262		232,972
Cash at bank and in hand		106,916		106,757
		303,178		1,337,440
Creditors: amounts falling due within one year	6	( 466,360)		( 747,002)
Net current (liabilities)/assets		(163,182)		590,438
Total assets less current liabilities		7,920,643		7,870,594
Creditors: amounts falling due after more than one year	7	( 2,706,965)		( 2,934,645)
Net assets		5,213,678		4,935,949
Capital and reserves
Called-up share capital		30,000		30,000
Revaluation reserve		1,252,935		1,252,935
Profit and loss account		3,930,743		3,653,014
Total shareholders' funds		5,213,678		4,935,949

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 Farnham Estates Limited (registered number: 02877267) were approved and authorised for issue by the Board of Directors on 12 November 2025. They were signed on its behalf by:

R R Lewis 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

Farnham Estates 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 Wey Court West, Union Road, Farnham, Surrey, GU9 7PT, 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 £.

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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
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 balance sheet date.

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:

Plant and machinery	4 years straight line
Vehicles	4 years straight line
Fixtures and fittings	4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	31,731		9,732		49,931		91,394
Additions	0		0		4,443		4,443
	0		0		0		0
At 31 March 2025	31,732		9,732		54,374		95,838
Accumulated depreciation
At 01 April 2024	29,322		9,732		46,096		85,150
Charge for the financial year	2,409		0		1,930		4,339
	0		0		0		0
At 31 March 2025	31,732		9,732		48,026		89,490
Net book value
At 31 March 2025	0		0		6,348		6,348
At 31 March 2024	2,409		0		3,835		6,244

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	7,273,912
Additions	803,565
As at 31 March 2025	8,077,477

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	6,824,540		6,020,975

5. Debtors

	2025		2024
	£		£
Trade debtors	88,483		124,884
Deferred tax asset	2,895		3,205
Other debtors	104,884		104,883
	196,262		232,972

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	10,200		210,000
Trade creditors	18,148		7,452
Accruals and deferred income	157,008		177,717
Corporation tax	93,459		88,999
Other taxation and social security	67,545		82,448
Other creditors	120,000		180,386
	466,360		747,002

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

	2025		2024
	£		£
Bank loans and overdrafts	752,875		13,642
Other creditors	1,954,090		2,921,003
	2,706,965		2,934,645

There are no amounts included above in respect of which any security has been given by the small entity.

Bank loans
	2025		2024
	£		£
Between one and two years	2,875		10,000
Between two and five years	750,000		3,642
After five years	0		0
	752,875		13,642
On demand or within one year	10,200		210,000
	763,075		223,642

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	3,205		( 1,662)
(Charged)/credited to the Statement of Income and Retained Earnings	( 310)		4,867
At the end of financial year	2,895		3,205