Company No: 07604627 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.08.2025		31.05.2024
		£		£
Fixed assets
Tangible assets	3	497,471		658,455
		497,471		658,455
Current assets
Stocks	4	0		89,100
Debtors	5	3,629		2,152
Cash at bank and in hand	6	14,352		13,056
		17,981		104,308
Creditors: amounts falling due within one year	7	( 25,898)		( 7,393)
Net current (liabilities)/assets		(7,917)		96,915
Total assets less current liabilities		489,554		755,370
Creditors: amounts falling due after more than one year	8	( 1,543,562)		( 1,557,899)
Net liabilities		( 1,054,008)		( 802,529)
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		( 1,054,108 )		( 802,629 )
Total shareholders' deficit		( 1,054,008)		( 802,529)

For the financial period ending 31 August 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 period 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 Profit and Loss Account has not been delivered.

The financial statements of AM & SA Howie Ltd (registered number: 07604627) were approved and authorised for issue by the Board of Directors on 05 December 2025. They were signed on its behalf by:

Susan Ann Howie Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

AM & SA Howie Ltd (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 Sunrise Farm, Cheriton Bishop, Exeter, EX6 6HF, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. The directors also confirm that they will not seek repayment of the directors loan balance until all other creditors have been met.

Reporting period length

The financial statements have been prepared for a 15 months period to 31 August 2025.  The comparative financial statements were prepared for the year to 31 May 2024.  As such, the two periods are not entirely comparable.

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.

Turnover is recognised on an accrual basis.

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	20 years straight line
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Office equipment	20 % 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
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 Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews 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).

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.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction cost.

Basic financial liabilities
Basic financial liabilities, including creditors, 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	Period from 01.06.2024 to 31.08.2025		Year ended 31.05.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	2		2

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 June 2024	568,041		276,250		61,786		16,607		922,684
Additions	145		3,430		39,053		633		43,261
Disposals	0		( 279,680)		( 100,839)		( 17,240)		( 397,759)
At 31 August 2025	568,186		0		0		0		568,186
Accumulated depreciation
At 01 June 2024	35,322		187,428		37,428		4,051		264,229
Charge for the financial period	35,393		13,802		12,217		2,543		63,955
Disposals	0		( 201,230)		( 49,645)		( 6,594)		( 257,469)
At 31 August 2025	70,715		0		0		0		70,715
Net book value
At 31 August 2025	497,471		0		0		0		497,471
At 31 May 2024	532,719		88,822		24,358		12,556		658,455

4. Stocks

	31.08.2025		31.05.2024
	£		£
Livestock	0		89,100

5. Debtors

	31.08.2025		31.05.2024
	£		£
Trade debtors	0		679
Other debtors	3,629		1,473
	3,629		2,152

6. Cash and cash equivalents

	31.08.2025		31.05.2024
	£		£
Cash at bank and in hand	14,352		13,056

7. Creditors: amounts falling due within one year

	31.08.2025		31.05.2024
	£		£
Trade creditors	20,001		2,512
Other taxation and social security	0		616
Other creditors	5,897		4,265
	25,898		7,393

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

	31.08.2025		31.05.2024
	£		£
Other creditors	1,543,562		1,557,899

9. Called-up share capital

	31.08.2025		31.05.2024
	£		£
Allotted, called-up and fully-paid
80 A ordinary shares of £ 1.00 each	80		80
20 B ordinary shares of £ 1.00 each	20		20
	100		100

10. Related party transactions

Transactions with the entity's directors

	31.08.2025		31.05.2024
	£		£
Amounts owed to directors	1,543,562		1,557,899

The directors loan account is unsecured, interest free and the directors will not seek repayment within twelve months of the date of approval of the financial statements.