Company No: 01497038 (England and Wales)

Contents

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

Directors	G R Bailey-Barker
	R J Heys
	J M Thornhill

Registered office	Old Plaw Hatch Farm
	Sharpthorne
	East Grinstead
	RH19 4JL
	United Kingdom

Company number

01497038 (England and Wales)

Accountant	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex
	RH12 2RG

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	361,802		267,669
Investments	4	50		50
		361,852		267,719
Current assets
Stocks	5	140,100		143,097
Debtors	6	59,179		43,279
Cash at bank and in hand	7	148,343		175,974
		347,622		362,350
Creditors: amounts falling due within one year	8	( 205,742)		( 195,326)
Net current assets		141,880		167,024
Total assets less current liabilities		503,732		434,743
Creditors: amounts falling due after more than one year	9	( 68,365)		( 33,062)
Provision for liabilities	10	( 59,000)		( 50,000)
Net assets		376,367		351,681
Capital and reserves
Called-up share capital	11	99,252		99,252
Profit and loss account		277,115		252,429
Total shareholders' funds		376,367		351,681

For the financial year ending 31 March 2025 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 Old Plaw Hatch Farm Limited (registered number: 01497038) were approved and authorised for issue by the Board of Directors on 14 October 2025. They were signed on its behalf by:

R J Heys 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

Old Plaw Hatch Farm 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 Old Plaw Hatch Farm, Sharpthorne, East Grinstead, RH19 4JL, United Kingdom.

The financial statements have been prepared under the historical cost convention 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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 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 % reducing balance
Plant and machinery	7 - 25 % reducing balance
Vehicles	15 - 33 % reducing balance
Office equipment	25 % reducing balance

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

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.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Government grants

Government grants are recognised based on the accruals model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	42		38

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	58,944		605,028		18,919		4,291		687,182
Additions	37,596		103,922		0		0		141,518
Disposals	0		( 47,500)		( 1,700)		0		( 49,200)
At 31 March 2025	96,540		661,450		17,219		4,291		779,500
Accumulated depreciation
At 01 April 2024	40,162		366,381		10,232		2,738		419,513
Charge for the financial year	3,747		34,194		2,157		388		40,486
Disposals	0		( 40,612)		( 1,689)		0		( 42,301)
At 31 March 2025	43,909		359,963		10,700		3,126		417,698
Net book value
At 31 March 2025	52,631		301,487		6,519		1,165		361,802
At 31 March 2024	18,782		238,647		8,687		1,553		267,669
Leased assets included above:
Net book value
At 31 March 2025	0		147,985		0		0		147,985
At 31 March 2024	0		81,332		0		0		81,332

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	50		50
At 31 March 2025	50		50
Carrying value at 31 March 2025	50		50
Carrying value at 31 March 2024	50		50

5. Stocks

	2025		2024
	£		£
Stocks	140,100		143,097

6. Debtors

	2025		2024
	£		£
Trade debtors	2,928		2,740
Prepayments	13,107		9,454
VAT recoverable	30,360		20,125
Other debtors	12,784		10,960
	59,179		43,279

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	148,343		175,974

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	136,969		149,054
Amounts owed to fellow subsidiaries	15,360		0
Accruals	21,215		8,503
Other taxation and social security	0		13,683
Obligations under finance leases and hire purchase contracts	31,384		24,086
Other creditors	814		0
	205,742		195,326

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

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	68,365		33,062

10. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 50,000)		( 48,000)
Charged to the Statement of Income and Retained Earnings	( 9,000)		( 2,000)
At the end of financial year	( 59,000)		( 50,000)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 80,494)		( 56,310)
Tax losses carry forward	21,001		5,867
Other timing differences	16		( 33)
Capital gains/losses	477		476
	( 59,000)		( 50,000)

11. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
79,252 Ordinary share shares of £ 1.00 each	79,252		79,252
20,000 Preference share shares of £ 1.00 each	20,000		20,000
	99,252		99,252

The preference shares entitle their holders, in the event of the winding-up of the company, to have the capital paid up thereon repaid in priority to any repayment of capital on the ordinary shares of the Company. The preference shares do not entitle their holders to any further right to participate in the profits or assets of the Company, nor to vote at General Meetings of the Company.

12. Financial commitments

Commitments

The Company had no commitments under non-cancellable operating leases at the balance sheet date as the lease on the property that it trades from is on a rolling basis.

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The total pension cost for the year ended 31 March 2025 was £8,069 (2024 - £8,370). At the balance sheet date, the amount payable to the fund was £174 (2024 - £1,747).

13. Ultimate controlling party

Parent Company:

Tablehurst and Plaw Hatch Community Farm Limited

The ultimate parent company is Tablehurst and Plaw Hatch Community Farm Limited, by virtue of 100% ownership of the ordinary share capital.