MILBURN FARMS LIMITED


Directors	ATKINSON, Richard
	ATKINSON, Roger Milburn
	MURPHY, Mary Annabel


Registered Address	The Field House
	Milburn
	Penrith
	CA10 1TP


Registered Number	12888550 (England and Wales)

Statement of Financial Position
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		-		2,200
Tangible assets	4		391,200		389,545
			391,200		391,745
Current assets
Stocks	5	509,107		461,270
Debtors	6	100,150		95,543
Current asset investments	7	8,544		-
Cash at bank and on hand		728,036		419,429
		1,345,837		976,242
Creditors amounts falling due within one year	8	(200,594)		(97,940)
Net current assets (liabilities)			1,145,243		878,302
Total assets less current liabilities			1,536,443		1,270,047
Provisions for liabilities	9		(98,000)		(73,799)
Net assets			1,438,443		1,196,248
Capital and reserves
Called up share capital			100		100
Profit and loss account			1,438,343		1,196,148
Shareholders' funds			1,438,443		1,196,248

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 5 November 2025, and are signed on its behalf by:

ATKINSON, Roger Milburn
Director
Registered Company No. 12888550

MILBURN FARMS LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

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

	Employee benefits
	DO NOT USE

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	7		7

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 24	2,200	2,200
Disposals	(2,200)	(2,200)
Net book value
At 31 March 25	-	-
At 31 March 24	2,200	2,200

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	885,280	41,660	2,472	929,412
Additions	78,445	-	-	78,445
Disposals	(48,600)	-	-	(48,600)
At 31 March 25	915,125	41,660	2,472	959,257
Depreciation and impairment
At 01 April 24	517,326	21,457	1,084	539,867
Charge for year	53,839	4,040	208	58,087
On disposals	(29,897)	-	-	(29,897)
At 31 March 25	541,268	25,497	1,292	568,057
Net book value
At 31 March 25	373,857	16,163	1,180	391,200
At 31 March 24	367,954	20,203	1,388	389,545

5.	Stocks

	2025	2024
	£	£
Raw materials and consumables	509,107	461,270
Total	509,107	461,270

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	53,527	53,005
Other debtors	30,331	28,105
Prepayments and accrued income	16,292	14,433
Total	100,150	95,543

7.	Current asset investments

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	57,944	60,151
Taxation and social security	87,884	-
Other creditors	36,300	28,662
Accrued liabilities and deferred income	18,466	9,127
Total	200,594	97,940

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	98,000	73,799
Total	98,000	73,799