Company registration number 12198717 (England and Wales)
ORSWELL FARM LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
Affinia
Swift House
Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
UK
CM1 1GU
ORSWELL FARM LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ORSWELL FARM LTD
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,303
5,626
Current assets
Stocks
324
-
Debtors
5
29,723
4,746
Cash at bank and in hand
1,984
667
32,031
5,413
Creditors: amounts falling due within one year
6
(9,422)
(2,308)
Net current assets
22,609
3,105
Total assets less current liabilities
29,912
8,731
Creditors: amounts falling due after more than one year
7
(25,503)
(7,683)
Net assets
4,409
1,048
Capital and reserves
Called up share capital
8
3
3
Fair value reserve
1,725
-
0
Profit and loss reserves
2,681
1,045
Total equity
4,409
1,048
ORSWELL FARM LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question 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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 November 2025 and are signed on its behalf by:
Mrs C Brush
Director
Company registration number 12198717 (England and Wales)
ORSWELL FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Orswell Farm Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Swift House, Ground Floor, 18 Hoffmanns Way, Chelmsford, Essex, UK, CM1 1GU.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

T true he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the mixed farming 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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from contracts for the provision of mixed farming services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
5 years straight line
Fixtures and fittings
5 years straight line

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.

ORSWELL FARM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Biological assets

Biological assets (Livestock) are recognised only when the entity has control over the asset as a result of past events, it is probably that future economic benefits associated with the asset will flow to the entity, and the fair value or cost of the asset can be measured reliably.

Biological assets (Livestock) are initially recognised at cost and subsequently measured at fair value less costs to sell. Any changes in fair value are recognised through the profit or loss and subsequently transferred to a revaluation reserve to reflect the non-distributable nature of the unrealised gains.

Where the company opts to measure Livestock under the fair value model on initial recognition it must carry the asset at fair value at each reporting date. Changes in fair value less costs to sell are recognised in profit or loss.

Where the company opts to measure agricultural produce harvested from the biological asset (Livestock) it is measured at fair value less costs to sell at the point of harvest. This measurement becomes the cost at the date the company applies Section 13 Inventories to the agricultural produce.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

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

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.8
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 current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ORSWELL FARM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
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.

Classification of financial liabilities

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.

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 paymen ts 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. A m ounts 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.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ORSWELL FARM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
Biological asset
Total
£
£
£
Cost or valuation
At 1 April 2024
10,064
675
10,739
Additions
2,249
-
0
2,249
Revaluation
-
0
1,725
1,725
At 31 March 2025
12,313
2,400
14,713
Depreciation and impairment
At 1 April 2024
5,113
-
0
5,113
Depreciation charged in the year
2,297
-
0
2,297
At 31 March 2025
7,410
-
0
7,410
Carrying amount
At 31 March 2025
4,903
2,400
7,303
At 31 March 2024
4,951
675
5,626

Fair value of the biological asset was determined by the directors with reference to external animal market prices at the balance sheet date.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,057
919
Other debtors
8,400
3,827
10,457
4,746
ORSWELL FARM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Debtors
(Continued)
- 7 -
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
18,864
-
0
Deferred tax asset
402
-
0
19,266
-
0
Total debtors
29,723
4,746
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
4,190
-
0
Taxation and social security
2,952
863
Other creditors
2,280
1,445
9,422
2,308

Fixed and floating charges exist in favour of HSBC UK Bank PLC against company assets dated 26 June 2025

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
25,503
-
0
Other creditors
-
0
7,683
25,503
7,683
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
3
3
3
3
ORSWELL FARM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
9
Fair value reserves
2025
2024
£
£
At the beginning of the year
-
-
Additions
1,725
-
At the end of the year
1,725
-

The fair value reserve represents accumulated gains and losses on revaluation of biological assets. This reserve is non-distributable.

10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Related party
Description of transaction
Income
Payments
2025
2024
2025
2024
£
£
£
£
Other related parties
Payments on behalf of entity
2,413
80
6,260
12,320
Transfer of liability
-
-
31,100
-
Balances with related parties
Amounts owed by
Amounts owed to
related parties
related parties
2025
2024
2025
2024
£
£
£
£
Other related parties
27,264
-
0
-
0
7,683
Other information

Parties included within 'other related parties' are related due to common control over the parties by the shareholders of this entity.

All balances with other related parties are unsecured, and no guarantees have been given or received by any such party. Outstanding balances do not accrue interest.

There are no provisions for uncollectible receivables related to the amount of outstanding balances, and no expense has been recognised during the period in respect of bad or doubtful debts due from related parties.

All liabilities are to be settled via a transfer of funds to the related parties.

11
Directors' transactions

At the balance sheet date the company owed the directors £546 (2024: the directors owed the company £3,727)

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