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Registered number: 05414629 FRITH FARM DRIED HERBS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
FRITH FARM DRIED HERBS LIMITED REGISTERED NUMBER: 05414629 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |  |
Tangible fixed assets |  |  | 608,939 |  | 449,810
|  |  | 608,939 |  | 449,810
Current assets |  |  |  |  |
Stocks |  | 315,617 |  | 476,684 |
Debtors: amounts falling due within one year | 5 | 724,240 |  | 636,355 |
Bank & cash balances |  | 240 |  | 240 |
|  | 1,040,097 |  | 1,113,279 |
Creditors: amounts falling due within one year | 6 | (330,449) |  | (293,489) |
Net current assets |  |  | 709,648 |  | 819,790
Total assets less current liabilities |  |  | 1,318,587 |  | 1,269,600
Creditors: amounts falling due after more than one year |  |  | (251,901) |  | (264,221)
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 | (82,044) |  | (100,750) |
|  |  | (82,044) |  | (100,750)
Net assets |  |  | 984,642 |  | 904,629
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 300,000 |  | 300,000
Profit and loss account |  |  | 684,642 |  | 604,629
|  |  | 984,642 |  | 904,629
Page 1
FRITH FARM DRIED HERBS LIMITED REGISTERED NUMBER: 05414629 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
T J Casson
Director
Date: 15 September 2025
The notes on pages 3 to 8 form part of these financial statements. Page 2
FRITH FARM DRIED HERBS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Frith Farm Dried Herbs Limited is a private company, limited by share capital and incorporated in England and Wales. The Company's registered office and principal place of business is Frith Farm, Wheathold, Tadley, Hampshire, RG26 5SA. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Revenue
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of turnover can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.3 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.
| 2.4 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 3
FRITH FARM DRIED HERBS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.5 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.6 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods. Depreciation is provided on the following basis:
|  |  |  | Plant & machinery | - | 10% | on reducing balance
|  |  |  | Property improvements | - | 5% | straight line
|  |  |  | Motor vehicles | - | 25% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 4
FRITH FARM DRIED HERBS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.7 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a normal farming practice basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.9 | 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.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.11 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.12 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Page 5
FRITH FARM DRIED HERBS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.12 | Financial instruments (continued)
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2024 - 3).
4. | Tangible fixed assets
|  | Plant & machinery | Motor vehicles | Property improvements | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 April 2024 | 904,997 | 44,990 | 8,303 | 958,290
| Additions | - | 63,228 | 183,929 | 247,157
| Disposals | - | (44,990) | - | (44,990)
| At 31 March 2025 | 904,997 | 63,228 | 192,232 | 1,160,457
| Depreciation |  |  |  |
| At 1 April 2024 | 482,183 | 17,996 | 8,301 | 508,480
| Charge for the year on owned assets | 42,282 | 11,855 | 6,897 | 61,034
| Disposals | - | (17,996) | - | (17,996)
| At 31 March 2025 | 524,465 | 11,855 | 15,198 | 551,518
| Net book value |  |  |  |
| At 31 March 2025 | 380,532 | 51,373 | 177,034 | 608,939
| At 31 March 2024 | 422,814 | 26,994 | 2 | 449,810
Page 6
FRITH FARM DRIED HERBS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 650,620 | 602,921
| VAT recoverable | 12,515 | 2,344
| Prepayments and accrued income | 61,105 | 31,090
|  | 724,240 | 636,355
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 59,199 | 67,664
| Bank loans | 50,059 | 48,504
| Trade creditors | 82,127 | 59,055
| Accruals and deferred income | 3,855 | 8,569
| Other taxation and social security | 4,458 | 3,861
| Other creditors | 98,305 | 98,305
| Obligations under finance lease and hire purchase contracts | 9,755 | 7,531
| Corporation tax | 22,691 | -
|  | 330,449 | 293,489
7. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 50,059 | 48,504
| Amounts falling due 2-5 years |  |
| Bank loans | 150,179 | 194,014
| Amounts falling due after more than 5 years |  |
| Bank loans | 54,751 | 62,531
|  | 254,989 | 305,049
| Loans totalling £254,989 (2024: £305,049) are not secured.
Page 7
FRITH FARM DRIED HERBS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 9,755 | 7,531
| Between 1-5 years | 46,970 | 7,676
|  | 56,725 | 15,207
| Hire purchase and finance lease liabilities totalling £56,725 (2024: £15,207) are secured against the assets financed.
9. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (100,750)
| Charged to profit or loss | 18,706
| At end of year | (82,044)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (82,044) | (100,750)
|  | (82,044) | (100,750)
10. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,335 (2024: £1,117 ).
11. | Related party transactions
| Trade debtors include amounts due from Frith Farm - a trade owned by the sole shareholder. At the year end £572,590 (2024: £552,166) was due from Frith Farm.
Page 8