Company No: 07361832 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.12.2024		31.01.2024
		£		£
				Restated
Fixed assets
Tangible assets	4	333,928		350,723
		333,928		350,723
Current assets
Stocks		2,096		0
Debtors	5	86,137		22,103
Cash at bank and in hand		2,671		22,518
		90,904		44,621
Creditors: amounts falling due within one year	6	( 82,375)		( 81,069)
Net current assets/(liabilities)		8,529		(36,448)
Total assets less current liabilities		342,457		314,275
Creditors: amounts falling due after more than one year	7	( 179,029)		( 205,484)
Provision for liabilities		( 31,094)		( 34,144)
Net assets		132,334		74,647
Capital and reserves
Called-up share capital		2		2
Profit and loss account		132,332		74,645
Total shareholders' funds		132,334		74,647

For the financial period ending 31 December 2024 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 period 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 Profit and Loss Account has not been delivered.

The financial statements of Oxleaze Farm Limited (registered number: 07361832) were approved and authorised for issue by the Board of Directors on 17 September 2025. They were signed on its behalf by:

Mr W D Ford Director

Mrs J M Ford Director

1. Accounting policies

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

General information and basis of accounting

Oxleaze Farm 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, 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 £.

Reporting period length

Reporting period length is 11 months.

Prior period adjustment

Due to the increase in company activity, the business has exceeded FRS 105 limits so this year the accounts have transitioned to FRS 102 section 1A. Therefore deferred tax has been included this year and in the prior year. This is therefore altered the prior year's profit and loss reserve. Further explanation is shown in note 2.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of poultry and is shown net of VAT and other sales related taxes.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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 liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

1 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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	50 years straight line
Plant and machinery	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 profit or loss.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2.Transition to FRS102

The Company has adopted FRS 102 for the period ended 31 December 2024 and has restated the comparative year amounts, due to the increased activity FRS 105 limits have been exceeded.

Reconciliation of equity

		01.02.2023		31.01.2024
		£		£
Capital and reserves (as previously stated)		109,996		105,741
Deferred Tax		0		(31,094)
Capital and reserves (as restated)		109,996		74,647

Due to the transition from FRS 105 to FRS 102/1A deferred tax has now been recognised and included as a prior period adjustment.

3. Employees

	Period from 01.02.2024 to 31.12.2024		Year ended 31.01.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	3		3

4. Tangible assets

	Land and buildings		Plant and machinery		Total
	£		£		£
Cost
At 01 February 2024	263,933		375,944		639,877
Additions	0		1,350		1,350
At 31 December 2024	263,933		377,294		641,227
Accumulated depreciation
At 01 February 2024	8,884		280,270		289,154
Charge for the financial period	4,838		13,307		18,145
At 31 December 2024	13,722		293,577		307,299
Net book value
At 31 December 2024	250,211		83,717		333,928
At 31 January 2024	255,049		95,674		350,723

5. Debtors

	31.12.2024		31.01.2024
	£		£
Trade debtors	67,408		1,909
Other debtors	18,729		20,194
	86,137		22,103

Included within other debtors are amounts owed from HMRC for VAT and S458 tax.

6. Creditors: amounts falling due within one year

	31.12.2024		31.01.2024
	£		£
Bank loans	24,244		15,801
Trade creditors	7,296		9,349
Taxation and social security	20,088		26
Other creditors	30,747		55,893
	82,375		81,069

Included within other creditors are amounts owed to directors and accrued costs.

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

	31.12.2024		31.01.2024
	£		£
Bank loans (secured)	179,029		205,484

Bank borrowings are secured by a charge over the company property, which is included within land and buildings.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	31.12.2024		31.01.2024
	£		£
Bank loans (secured)	118,932		131,969