REGISTERED NUMBER: 08947062 (England and Wales)

Perry Farm Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

KR Bennett

CR Bennett

YS Bennett

REGISTERED OFFICE:

Perry Farm

Bagber

Sturminster Newton

Dorset

DT10 2HB

REGISTERED NUMBER:

08947062 (England and Wales)

ACCOUNTANTS:

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Perry Farm Limited for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Perry Farm Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Perry Farm Limited and state those matters that we have agreed to state to the Board of Directors of Perry Farm Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Perry Farm Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Perry Farm Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Perry Farm Limited. You consider that Perry Farm Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Perry Farm Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

21 September 2025

FIXED ASSETS

Tangible assets

4

110,475

79,455

CURRENT ASSETS

Stocks

92,160

124,800

Debtors

5

78,296

29,699

Cash at bank

3,917

3,913

174,373

158,412

CREDITORS

Amounts falling due within one year

6

223,680

209,829

NET CURRENT LIABILITIES

(49,307

)

(51,417

)

TOTAL ASSETS LESS CURRENT LIABILITIES

61,168

28,038

CAPITAL AND RESERVES

Allotted, issued and fully

paid share capital

1,000

1,000

Retained earnings

60,168

27,038

SHAREHOLDERS' FUNDS

61,168

28,038

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2025 and were signed on its behalf by:

KR Bennett - Director

1.	STATUTORY INFORMATION

Perry Farm Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 (FRS102) "The Financial Reporting Standard in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The directors are aware that the company has negative net current liabilities of £49,307. Having reviewed the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. They have also confirmed that they will not withdraw their loan accounts to the detriment of other creditors within this period. The directors therefore consider it appropriate to prepare the accounts on the going concern basis.

Turnover

Turnover represents livestock sales, hire of labour and cow hire stated net of discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have passed to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from services is recognised in the accounting periods in which the services are rendered.

The following criteria must therefore be met before revenue is recognised:

Livestock sales are recognised when the animals are sold at market or delivered to the buyer.

Hire of labour is recognised in the period in which the work has been carried out.

Cow hire is recognised in the period in which the cows are hired out.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Herd

-

25% on cost less residual value and 20% on cost less residual value

The company has the following biological assets which are valued as disclosed:-

Dairy herd - valued at their depreciated cost.

Stocks

Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell. Provision is made for obsolete and slow moving stock where appropriate.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

The company has the following biological assets which are valued as disclosed:-

Livestock - valued at their estimated cost with reference to current market values.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.

EMPLOYEES

The average number of employees during the year was 4 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Herd

£

COST

At 1 April 2024

114,120

Additions

74,520

Disposals

(26,760

)

At 31 March 2025

161,880

DEPRECIATION

At 1 April 2024

34,665

Charge for year

28,470

Eliminated on disposal

(11,730

)

At 31 March 2025

51,405

NET BOOK VALUE

At 31 March 2025

110,475

At 31 March 2024

79,455

The herd is leased out on an operating lease.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

8,904

Prepayments and accrued income

51,452

-

Tax

-

10,019

VAT

11,113

-

Deferred tax asset

15,731

10,776

78,296

29,699

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

60,602

357

Tax

18,496

-

VAT

-

1,063

Other creditors

259

-

Amounts owed to associates

5,392

17,965

Directors' current accounts

137,586

122,364

Accruals and deferred income

1,345

68,080

223,680

209,829

7.	DEFERRED TAX

£

Balance at 1 April 2024

(10,776

)

Provided during year

(4,955

)

Balance at 31 March 2025

(15,731

)

8.	RELATED PARTY DISCLOSURES

The company leases the herd and labour to a partnership in which the directors are partners. The cow hire charge for the year was £7,320 (2024: £10,080) and the hire of labour (including bonus) was £136,652

(2024: £13,840). The company also paid the partnership £129,000 (2024: £125,004) for rearing their heifers and beef cattle.

Included in trade creditors is a balance of £60,160 (2024: £NIL) due to the partnership at the year end.

There is also an interest free loan made from the partnership to the company within creditors which totals £5,392 (2024: £17,965) at the year end.

The directors' current accounts included in creditors of £137,586 (2024: £122,364) are interest free and repayable on demand.