Henson Farming Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Henson Farming Limited

Company Information

Directors

Mr P H Payne Mrs C L Payne

Company secretary

Mrs C L Payne

Registered office

3 Park View House Mafeking Terrace Woolland Blandford Forum Dorset DT11 0ET

Accountants

Francis Clark LLP Hitchcock House Hilltop Park Devizes Road Salisbury Wiltshire SP3 4UF

Henson Farming Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	556,287	576,033
Current assets
Stocks	5	83,280	357,814
Debtors	6	407,521	585,959
Cash at bank and in hand		144,241	180,906
		635,042	1,124,679
Creditors: Amounts falling due within one year	7	(68,719)	(332,870)
Net current assets		566,323	791,809
Total assets less current liabilities		1,122,610	1,367,842
Provisions for liabilities		(14,487)	(16,208)
Net assets		1,108,123	1,351,634
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,108,023	1,351,534
Shareholders' funds		1,108,123	1,351,634

Henson Farming Limited

Balance Sheet

31 December 2024

For the financial year 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Mr P H Payne Director

Company Registration Number: 06209261

Henson Farming Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Park View House
Mafeking Terrace
Woolland
Blandford Forum
Dorset
DT11 0ET

The principal place of business is:
Old Sarum Farm
Ford Road
Salisbury
Wiltshire
SP1 3RZ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. Current trading conditions are challenging due to an over supply of pigs in the UK market, labour shortages and rising feed prices. As a consequence, the directors decided during 2024 they will change the method and the scale of their livestock business operations. The directors consider that the company has sufficient cash reserves to provide working capital for this change to their business for the foreseeable future and accordingly these financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Henson Farming Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Tax

Tax is recognised in profit or loss, 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.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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 assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land	0%
Long leasehold land and buildings	4% per annum straight line
Properties under construction	Nil until asset brought into use
Plant and machinery	25% per annum reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Henson Farming Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Henson Farming Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

Henson Farming Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

4	Tangible assets

	Freehold land £	Long leasehold land and buildings £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	242,630	321,559	145,591	709,780
Additions	-	-	11,060	11,060
At 31 December 2024	242,630	321,559	156,651	720,840
Depreciation
At 1 January 2024	-	52,986	80,761	133,747
Charge for the year	-	12,862	17,944	30,806
At 31 December 2024	-	65,848	98,705	164,553
Carrying amount
At 31 December 2024	242,630	255,711	57,946	556,287
At 31 December 2023	242,630	268,573	64,830	576,033

Included within the net book value of land and buildings above is £242,630 (2023 - £242,630) in respect of freehold land and buildings and £255,711 (2023 - £268,573) in respect of long leasehold land and buildings.
 

5

Stocks

	2024 £	2023 £
Raw materials and consumables	18,250	18,250
Other inventories	65,030	339,564
	83,280	357,814

6

Debtors

	2024 £	2023 £
Trade debtors	310,508	142,406
Prepayments	-	130,000
Other debtors	97,013	313,553
	407,521	585,959

Details of non-current trade and other debtors

Henson Farming Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

£Nil (2023 - £63,432) of taxation recoverable is classified as non current. Taxation payable on loans to participators is recoverable nine months after the end of the financial period in which the loan is repaid.

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	21,151	181,626
Taxation and social security	-	133,764
Accruals and deferred income	12,820	17,480
Other creditors	34,748	-
	68,719	332,870

Henson Farming Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

8	Related party transactions

Loans to related parties

	Other related parties
	2024 £	2023 £
At start of period	229,117	104,801
Advanced	50,000	175,000
Repaid	(279,117)	(50,684)
At end of period	-	229,117

Terms of loans to related parties

Interest-free and repayable on demand