REGISTERED NUMBER: 01093935 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

H.A. HARRIS FARMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T C E Harris

Mrs T Harris

SECRETARY:

Mrs T Harris

REGISTERED OFFICE:

Hummer Farm

Trent

Sherborne

Dorset

DT9 4SH

REGISTERED NUMBER:

01093935 (England and Wales)

ACCOUNTANTS:

Fawcetts LLP

Chartered Accountants

Windover House

St. Ann Street

Salisbury

SP1 2DR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

390,432

455,377

Investment property

6

750,000

750,000

1,140,432

1,205,377

CURRENT ASSETS

Stocks

68,782

97,937

Debtors

7

248,923

435,020

Cash at bank

-

40,593

317,705

573,550

CREDITORS

Amounts falling due within one year

8

237,886

259,127

NET CURRENT ASSETS

79,819

314,423

TOTAL ASSETS LESS CURRENT LIABILITIES

1,220,251

1,519,800

CREDITORS

Amounts falling due after more than one year

9

(25,362

)

(73,457

)

PROVISIONS FOR LIABILITIES

(244,223

)

(269,596

)

NET ASSETS

950,666

1,176,747

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

11

473,321

473,321

Retained earnings

467,345

693,426

SHAREHOLDERS' FUNDS

950,666

1,176,747

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 28 November 2025 and were signed on its behalf by:

T C E Harris - Director

1.	STATUTORY INFORMATION

H.A. Harris Farms 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 as modified by the revaluation of certain assets.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Revaluation of investment property

The company carries its investment property at fair value. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. The method and significant assumptions used to determine the fair value of investment property are further explained in Note 7.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebate and value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Basic payment entitlements are being amortised evenly over their estimated useful life of nil years.

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.

Freehold property

-

10% on reducing balance and Not depreciated

Plant and machinery

-

25% on reducing balance and 15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property represents the company's portfolio of freehold property. It is initially recognised at cost, which includes purchase cost and any directly attributable expenditure.

Investment property whose fair value can be measured reliably without undue cost or effort is measured at fair value at each reporting date. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. Any loss arising from revaluation is also recognised in the fair value reserve unless it represents a loss below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in profit or loss for the year.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Debtors are measured at their recoverable amount.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

3,160

Disposals

(3,160

)

At 31 March 2025

-

AMORTISATION

At 1 April 2024

3,160

Eliminated on disposal

(3,160

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

176,844

1,322,847

1,499,691

Additions

-

14,127

14,127

Disposals

-

(40,770

)

(40,770

)

At 31 March 2025

176,844

1,296,204

1,473,048

DEPRECIATION

At 1 April 2024

164,642

879,672

1,044,314

Charge for year

1,220

76,201

77,421

Eliminated on disposal

-

(39,119

)

(39,119

)

At 31 March 2025

165,862

916,754

1,082,616

NET BOOK VALUE

At 31 March 2025

10,982

379,450

390,432

At 31 March 2024

12,202

443,175

455,377

The net book value of plant and machinery includes £174,490 (2024 - £205,282) in respect of assets held under hire purchase contracts.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

750,000

NET BOOK VALUE

At 31 March 2025

750,000

At 31 March 2024

750,000

Investment property represents the company's portfolio of freehold property. The fair value (open market basis) of investment property was assessed by the directors and in their opinion this remains unchanged at 31 March 2025.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

631,095

Cost

118,905

750,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

207,170

350,677

Other debtors

41,753

84,343

248,923

435,020

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

140,095

100,000

Hire purchase contracts

50,094

81,274

Trade creditors

26,117

56,863

Taxation and social security

1,743

1,905

Other creditors

19,837

19,085

237,886

259,127

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

25,362

73,276

Other creditors

-

181

25,362

73,457

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

75,095

-

The bank overdraft is secured by the personal guarantee of Mrs H L Harris, and a fixed and flouting charge over the assets of the company. Bank loans are secured against land and buildings owned by the company.

11.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

473,321

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

T C E Harris and Mrs T Harris

Balance outstanding at start of year

49,650

-

Amounts advanced

37,798

49,650

Amounts repaid

(49,650

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

37,798

49,650

The overdrawn directors loan was repaid after they year end by dividends.