Company No: 02596793 (England and Wales)

Contents

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

Directors	Mrs A M Ledger
	Mr B J Ledger
	Mrs S J Simpson
	Mrs J K Swinerd

Secretary

Mrs A M Ledger

Registered office	Ripple Farm Chapel Lane
	Ripple
	Deal
	CT14 8JQ
	United Kingdom

Company number

02596793 (England and Wales)

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

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	674,757		478,543
		674,757		478,543
Current assets
Stocks		20,970		212,577
Debtors	4	2,281,232		1,623,454
		2,302,202		1,836,031
Creditors: amounts falling due within one year	5	( 1,826,754)		( 1,226,858)
Net current assets		475,448		609,173
Total assets less current liabilities		1,150,205		1,087,716
Creditors: amounts falling due after more than one year	6	( 84,962)		( 23,524)
Provision for liabilities	7	( 127,000)		( 108,404)
Net assets		938,243		955,788
Capital and reserves
Called-up share capital	8	2		2
Profit and loss account		938,241		955,786
Total shareholders' funds		938,243		955,788

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 Ledger Farms Limited (registered number: 02596793) 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

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

Ledger 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 Chapel Lane, Ripple, Deal, CT14 8JQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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.

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.

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:

Leasehold improvements	10 years straight line
Plant and machinery	10 years straight line
Vehicles	5 years straight line
Fixtures and fittings	6.67 years straight line
Other property, plant and equipment	6.67 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.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	12		12

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Other property, plant and equipment		Total
	£		£		£		£		£		£
Cost
At 01 October 2023	2,505		763,687		65,578		3,046		1,620,713		2,455,529
Additions	0		140,376		0		0		333,300		473,676
Disposals	0		0		0		0		( 312,058)		( 312,058)
At 30 September 2024	2,505		904,063		65,578		3,046		1,641,955		2,617,147
Accumulated depreciation
At 01 October 2023	2,255		594,095		42,738		3,046		1,334,852		1,976,986
Charge for the financial year	250		48,197		6,340		0		188,729		243,516
Disposals	0		0		0		0		( 278,112)		( 278,112)
At 30 September 2024	2,505		642,292		49,078		3,046		1,245,469		1,942,390
Net book value
At 30 September 2024	0		261,771		16,500		0		396,486		674,757
At 30 September 2023	250		169,592		22,840		0		285,861		478,543

4. Debtors

	2024		2023
	£		£
Trade debtors	112,468		37,144
Amounts owed by Group undertakings	2,147,164		1,585,573
Corporation tax	19,964		0
Other debtors	1,636		737
	2,281,232		1,623,454

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank overdrafts	285,548		56,249
Trade creditors	565,031		404,021
Corporation tax	0		18,965
Other taxation and social security	649,199		563,272
Obligations under finance leases and hire purchase contracts	193,060		33,300
Other creditors	133,916		151,051
	1,826,754		1,226,858

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

	2024		2023
	£		£
Obligations under finance leases and hire purchase contracts	84,962		23,524

7. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 108,404)		( 134,589)
(Charged)/credited to the Statement of Income and Retained Earnings	( 18,596)		26,185
At the end of financial year	( 127,000)		( 108,404)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	( 168,689)		( 108,404)
Tax losses carry forward	41,689		0
	( 127,000)		( 108,404)

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

9. Related party transactions

During the year the company traded with Appleton Farms Limited (a company in which Mrs A M Ledger is a director and has a material interest) and with Ripple Farms Limited (a company in which Mrs S J Simpson and Mrs J K Swinerd are directors and have a material interest). The fees charged for contracting and expense recharges provided to the company during the year were as follows:

Appleton Farms Limited £2,485,771 (2023 - £2,681,605)
Ripple Farms Limited £926,351 (2023 - £965,858)

All transactions were carried out on normal trading terms.