REGISTERED NUMBER: 10004655 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PARADISE FARMERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S G Middleton

L C Middleton

REGISTERED OFFICE:

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

REGISTERED NUMBER:

10004655 (England and Wales)

ACCOUNTANTS:

Lloyd Dowson Limited

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

FIXED ASSETS

Tangible assets

4

231,879

271,579

CURRENT ASSETS

Stocks

126,400

81,400

Debtors

5

8,756

11,786

Cash in hand

-

25,000

135,156

118,186

CREDITORS

Amounts falling due within one year

6

191,243

265,040

NET CURRENT LIABILITIES

(56,087

)

(146,854

)

TOTAL ASSETS LESS CURRENT LIABILITIES

175,792

124,725

CREDITORS

Amounts falling due after more than one year

7

(23,630

)

(29,564

)

PROVISIONS FOR LIABILITIES

(44,609

)

(26,478

)

NET ASSETS

107,553

68,683

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

107,453

68,583

SHAREHOLDERS' FUNDS

107,553

68,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2025 and were signed on its behalf by:

S G Middleton - Director

1.	STATUTORY INFORMATION

Paradise Farmers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is derived from farming activities, as well as farm shop sales, and is recognised on supply of the product.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the statement of income and retained earnings on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

487,502

Additions

24,005

Disposals

(39,750

)

At 31 March 2025

471,757

DEPRECIATION

At 1 April 2024

215,923

Charge for year

44,063

Eliminated on disposal

(20,108

)

At 31 March 2025

239,878

NET BOOK VALUE

At 31 March 2025

231,879

At 31 March 2024

271,579

The net book value of tangible fixed assets includes £ 103,996 (2024 - £ 124,618 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

7,506

4,856

Other debtors

1,250

6,930

8,756

11,786

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

9,479

21,393

Hire purchase contracts

13,487

11,118

Taxation and social security

2,577

-

Other creditors

165,700

232,529

191,243

265,040

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

21,872

22,533

Other creditors

1,758

7,031

23,630

29,564

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank overdrafts

9,479

21,393

Other loans

7,031

12,304

Hire purchase contracts

35,359

33,651

51,869

67,348

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100