Company No: 02579228 (England and Wales)

Contents

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

Directors	Mrs S J Simpson
	Mrs J K Swinerd

Registered office	Ripple Farm
	Ripple
	Deal
	CT14 8JQ
	United Kingdom

Company number

02579228 (England and Wales)

Accountant	Kreston Reeves LLP
	37 St Margarets Street
	Canterbury
	Kent
	CT1 2TU

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	2,342,918		2,352,302
Investment property	4	385,000		385,000
		2,727,918		2,737,302
Current assets
Stocks		513,881		578,095
Debtors	5	423,401		212,595
Investments	6	1		1
Cash at bank and in hand	7	1,008		993
		938,291		791,684
Creditors: amounts falling due within one year	8	( 942,190)		( 637,193)
Net current (liabilities)/assets		(3,899)		154,491
Total assets less current liabilities		2,724,019		2,891,793
Creditors: amounts falling due after more than one year	9	( 1,316,237)		( 1,355,017)
Net assets		1,407,782		1,536,776
Capital and reserves
Called-up share capital	11	5,000		5,000
Share premium account		495,156		495,156
Revaluation reserve		56,844		56,844
Profit and loss account		850,782		979,776
Total shareholders' funds		1,407,782		1,536,776

For the financial year ending 30 September 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 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 Ripple Farms Limited (registered number: 02579228) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

Mrs J K Swinerd 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

Ripple Farms 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 Ripple Farm, Ripple, Deal, CT14 8JQ, 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.

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
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.

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:

Land and buildings	50 years straight line
Leasehold improvements	10 years straight line
Plant and machinery	10 years straight line
Other property, plant and equipment	10 years straight line

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.

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.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Other property, plant and equipment		Total
	£		£		£		£		£
Cost
At 01 October 2023	2,430,788		481,797		165,224		122,533		3,200,342
At 30 September 2024	2,430,788		481,797		165,224		122,533		3,200,342
Accumulated depreciation
At 01 October 2023	90,408		472,834		162,265		122,533		848,040
Charge for the financial year	2,804		6,278		302		0		9,384
At 30 September 2024	93,212		479,112		162,567		122,533		857,424
Net book value
At 30 September 2024	2,337,576		2,685		2,657		0		2,342,918
At 30 September 2023	2,340,380		8,963		2,959		0		2,352,302

4. Investment property

	Investment property
	£
Valuation
As at 01 October 2023	385,000
As at 30 September 2024	385,000

5. Debtors

	2024		2023
	£		£
Trade debtors	3,947		24,056
Deferred tax asset	41,491		5,125
Corporation tax	4,273		0
Other debtors	373,690		183,414
	423,401		212,595

6. Current asset investments

	2024		2023
	£		£
Other investments – at cost less impairment	1		1

Investments represents a 50% holding in Ledger Farms Limited (a company in which Mrs S J Simpson and Mrs J K Swinerd are directors and have a material interest).

7. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	1,008		993
Less: Bank overdrafts	( 240,627)		( 253,536)
	(239,619)		(252,543)

8. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts (secured)	285,627		293,536
Trade creditors	313		6,401
Corporation tax	0		5,436
Other taxation and social security	4,315		4,275
Other creditors	651,935		327,545
	942,190		637,193

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

	2024		2023
	£		£
Bank loans (secured)	1,316,237		1,355,017

10. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	5,125		3,618
Credited to the Statement of Income and Retained Earnings	36,366		1,507
At the end of financial year	41,491		5,125

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	6,207		5,125
Tax losses carry forward	35,284		0
	41,491		5,125

11. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
5,000 Ordinary shares of £ 1.00 each	5,000		5,000

12. Related party transactions

During the year the company traded with Ledger Farms Limited (a company in which Mrs S J Simpson and Mrs J K Swinerd are directors and have a material interest). Contracting services and expense recharges provided by Ledger Farms Limited to the company during the year were £926,351 (2023 - £965,858).

All transactions were carried out on normal trading terms.