Company No: 02580022 (England and Wales)

Contents

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

Directors	Mrs S J Bradley
	Mr A Ledger
	Mrs A M Ledger
	Mr B J Ledger

Secretary

Mrs A M Ledger

Registered office	Appleton Manor Farm
	Ringwould Road
	Martin
	CT15 5JS
	United Kingdom

Company number

02580022 (England and Wales)

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

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	2,056		2,056
Tangible assets	4	5,362,640		5,019,423
		5,364,696		5,021,479
Current assets
Stocks	5	946,206		891,820
Debtors	6	871,151		738,403
Investments	7	1		1
Cash at bank and in hand	8	118,534		0
		1,935,892		1,630,224
Creditors: amounts falling due within one year	9	( 2,874,248)		( 1,852,396)
Net current liabilities		(938,356)		(222,172)
Total assets less current liabilities		4,426,340		4,799,307
Creditors: amounts falling due after more than one year	10	( 3,045,275)		( 3,197,531)
Net assets		1,381,065		1,601,776
Capital and reserves
Called-up share capital	12	5,000		5,000
Share premium account		1,232,023		1,232,023
Profit and loss account		144,042		364,753
Total shareholder's funds		1,381,065		1,601,776

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 member has 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 Appleton Farms Limited (registered number: 02580022) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

Mrs A M Ledger 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

Appleton 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 Appleton Manor Farm, Ringwould Road, Martin, CT15 5JS, 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered 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.

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 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.

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.

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:

Entitlements

not amortised

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
Plant and machinery	7 - 15 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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

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.

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.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		5

3. Intangible assets

	Entitlements		Total
	£		£
Cost
At 01 October 2023	2,056		2,056
At 30 September 2024	2,056		2,056
Accumulated amortisation
At 01 October 2023	0		0
At 30 September 2024	0		0
Net book value
At 30 September 2024	2,056		2,056
At 30 September 2023	2,056		2,056

4. Tangible assets

	Land and buildings		Plant and machinery		Other property, plant and equipment		Total
	£		£		£		£
Cost
At 01 October 2023	4,462,117		2,693,557		449,311		7,604,985
Additions	492,237		7,850		0		500,087
At 30 September 2024	4,954,354		2,701,407		449,311		8,105,072
Accumulated depreciation
At 01 October 2023	428,529		2,141,170		15,863		2,585,562
Charge for the financial year	23,992		131,356		1,522		156,870
At 30 September 2024	452,521		2,272,526		17,385		2,742,432
Net book value
At 30 September 2024	4,501,833		428,881		431,926		5,362,640
At 30 September 2023	4,033,588		552,387		433,448		5,019,423

5. Stocks

	2024		2023
	£		£
Stocks	946,206		891,820

6. Debtors

	2024		2023
	£		£
Trade debtors	204,382		220,156
Deferred tax asset	66,922		22,338
Corporation tax	16,976		0
Other debtors	582,871		495,909
	871,151		738,403

7. 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 A M Ledger is a director and has a material interest).

8. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	118,534		0
Less: Bank overdrafts	( 328,744)		( 285,570)
	(210,210)		(285,570)

9. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts (secured)	475,531		422,570
Trade creditors	10,098		41
Taxation and social security	16,194		24,448
Other creditors	2,372,425		1,405,337
	2,874,248		1,852,396

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

	2024		2023
	£		£
Bank loans (secured)	3,045,275		3,197,531

11. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	22,338		58,781
Credited/(charged) to the Statement of Income and Retained Earnings	44,584		( 36,443)
At the end of financial year	66,922		22,338

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	41,490		22,338
Tax losses carry forward	25,432		0
	66,922		22,338

12. Called-up share capital

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

13. Related party transactions

During the year the company traded with Ledger Farms Limited (a company in which Mrs A M Ledger is a director and has material interest). Contracting services and expense recharges provided by Ledger Farms Limited to the company during the year were £2,485,771 (2023 - £2,681,605).

All transactions were carried out on normal trading terms.