Company Registration No. 06207622 (England and Wales)
Pigdon Farm Limited
Unaudited accounts
for the year ended 31 March 2025
Pigdon Farm Limited
Unaudited accounts
Contents
Pigdon Farm Limited
Statement of financial position
as at 31 March 2025
Intangible assets
15,750
16,750
Tangible assets
3,172,024
3,060,899
Investment property
240,000
240,000
Investments
2,332
1,598,370
Inventories
2,882,998
1,631,826
Cash at bank and in hand
4,233,237
8,303,075
Creditors: amounts falling due within one year
(4,175,076)
(7,093,278)
Net current assets
3,253,531
3,179,967
Total assets less current liabilities
6,683,637
8,095,986
Creditors: amounts falling due after more than one year
-
(1,706,300)
Provisions for liabilities
Deferred tax
(190,000)
(162,000)
Net assets
6,493,637
6,227,686
Pigdon Farm Limited
Statement of financial position
as at 31 March 2025 (continued)
Called up share capital
2
2
Fair value reserve
2,232
1,598,270
Profit and loss account
6,491,403
4,629,414
Shareholders' funds
6,493,637
6,227,686
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2025 and were signed on its behalf by
Michael Charles Clippingdale
Director
Company Registration No. 06207622
Pigdon Farm Limited
Notes to the Accounts
for the year ended 31 March 2025
Pigdon Farm Limited is a private company, limited by shares, registered in England and Wales, registration number 06207622. The registered office is c/o Nicholson & Morgan, Solicitors, 14 Bell Villas, Ponteland, Newcastle upon Tyne, NE20 9BE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied, other than where additional disclosure is required to show a true and fair view.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts on the basis that the group of which this is the parent qualifies as a small group. The accounts present information about the company as an individual entity and not about its group.
The accounts are presented in £ sterling.
In respect of farming and farm management, turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. In respect of the provision of management services to its wholly owned subsidiary, turnover represents the fair value of services provided, excluding value added tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Over 15 years straight line
Motor vehicles
25% reducing balance
Computer equipment
33% straight line
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 accounts. 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.
Pigdon Farm Limited
Notes to the Accounts
for the year ended 31 March 2025
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial; statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Intangible fixed assets are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
This relates to the purchase of entitlements to the Rural Payments Agency "Basic Payment Scheme" and will be amortised over 20 years.
Pigdon Farm Limited
Notes to the Accounts
for the year ended 31 March 2025
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
2,691,528
417,935
52,100
6,038
3,167,601
Additions
-
88,989
108,580
-
197,569
Disposals
-
-
(23,100)
-
(23,100)
At 31 March 2025
2,691,528
506,924
137,580
6,038
3,342,070
At 1 April 2024
6,515
78,977
17,728
3,482
106,702
Charge for the year
3,257
32,484
27,191
1,375
64,307
On disposals
-
-
(963)
-
(963)
At 31 March 2025
9,772
111,461
43,956
4,857
170,046
At 31 March 2025
2,681,756
395,463
93,624
1,181
3,172,024
At 31 March 2024
2,685,013
338,958
34,372
2,556
3,060,899
Fair value at 1 April 2024
240,000
This represents the acquisition of affordable residential properties for rent.
7
Investments
Subsidiary undertakings
Valuation at 1 April 2024
1,598,370
Fair value adjustments
(1,596,038)
Valuation at 31 March 2025
2,332
This represents 100% of the issued share capital and reserves of Chardale Country Homes Limited.
The company received a dividend of £1,595,000 from Chardale Country Homes Limited during the year. In addition, Chardale Country Homes Limited made a small after-tax loss for the year ended 31 March 2025. As a result, the revaluation of the investment in Chardale Country Homes Limited has been reduced to £2,332, including the issued share capital of £100. The reduction has been reflected in a release from fair value reserve to profit and loss account.
Work in progress
2,882,998
1,631,826
Work in progress relates to costs incurred on a residential development under construction and pre-development costs incurred on two potential residential developments.
Pigdon Farm Limited
Notes to the Accounts
for the year ended 31 March 2025
Amounts falling due within one year
Accrued income and prepayments
168,592
9,241
Other debtors
112,986
254,514
10
Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
9,500
9,500
Trade creditors
121,517
75,527
Amounts owed to group undertakings and other participating interests
2,000
1,600,000
Taxes and social security
65,801
56,618
Other creditors
2,847,692
5,326,911
Loans from directors
1,023,722
-
11
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
-
9,500
Allotted, called up and fully paid:
200 Ordinary shares of £0.01 each
2
-
- Ordinary shares of £1 each
-
2
Shares issued during the period:
200 Ordinary shares of £0.01 each
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Michael Charles Clippingdale
Interest-free, unsecured and repayable on demand
197,872
-
197,872
-
Pigdon Farm Limited
Notes to the Accounts
for the year ended 31 March 2025
14
Transactions with related parties
Included within other creditors falling due within one year are loans totalling £13,500 (2024: £296,094) from companies in which a member of key management personnel owned 50% of the issued share capital. These loans are interest-free and repayable on demand.
Included within other creditors falling due within one year are loans totalling £1,540,105 (2024: £830,730) from companies in which members of key management personnel and close family owned directly or indirectly 50% of the issued share capital. These loans are interest-free and repayable on demand.
Included within other creditors falling due within one year is a loan of £2,000 (2024: £1,600,000) from a group company. The loan is interest-free and repayable on demand.
Included within other creditors falling due within one year is a loan from a shareholder totalling £1,294,0001 (2024: £4,200,001). This loan is interest-free and repayable on demand.
Included within other creditors falling due within one year are loans from directors totalling £1,023,722 (2024: £Nil). These loans are interest-free and repayable on demand.
Included within other debtors falling due within one year is a loan of £6,344 (2024: £Nil) to a company under the control of the shareholders of Pigdon Farm Limited. This loan is interest-free and repayable on demand.
15
Average number of employees
During the year the average number of employees was 5 (2024: 4).