Milford Farming Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04728832

MILFORD FARMING LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 July 2025

MILFORD FARMING LIMITED

STATEMENT OF FINANCIAL POSITION

31 July 2025

	2025		2024
Note	£	£	£	£

Fixed Assets

Intangible assets	5	1,483	1,483
Tangible assets	6	786,004	726,293
		-----------	-----------
		787,487	727,776

Current Assets

Stocks		1,167,008	729,325
Debtors	7	28,851	38,063
		--------------	-----------
		1,195,859	767,388

Creditors: amounts falling due within one year	8	457,681		267,587
		--------------		-----------
Net Current Assets			738,178		499,801
			--------------		--------------
Total Assets Less Current Liabilities			1,525,665		1,227,577

Creditors: amounts falling due after more than one year	9		619,340		585,497

Provisions

Taxation including deferred tax	20,150	20,150
	--------------	--------------
Net Assets	886,175	621,930
	--------------	--------------

MILFORD FARMING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 July 2025

	2025		2024
Note	£	£	£	£

Capital and Reserves

Called up share capital	100	100
Profit and loss account	886,075	621,830
	-----------	-----------
Shareholders Funds	886,175	621,930
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 November 2025 , and are signed on behalf of the board by:

Mr J M Atkinson

Director

Company registration number: 04728832

MILFORD FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2025

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fosses Farm, Seaton Ross, York, YO42 4NL.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Intangible Assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings	-	2.5% Straight line excluding land
Plant and nachinery	-	15% straight line
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance Leases and Hire Purchase Contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Intangible Assets

	Entitlements
	£
Cost
At 1 August 2024 and 31 July 2025	1,483
	--------
Amortisation
At 1 August 2024 and 31 July 2025	–
	--------
Carrying amount
At 31 July 2025	1,483
	--------
At 31 July 2024	1,483
	--------

6. Tangible Assets

	Land and buildings	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 August 2024	949,561	218,878	34,000	1,202,439
Additions	93,614	2,570	–	96,184
Disposals	–	( 3,745)	–	( 3,745)
	--------------	-----------	---------	--------------
At 31 July 2025	1,043,175	217,703	34,000	1,294,878
	--------------	-----------	---------	--------------
Depreciation
At 1 August 2024	323,357	121,242	31,547	476,146
Charge for the year	18,034	17,826	613	36,473
Disposals	–	( 3,745)	–	( 3,745)
	--------------	-----------	---------	--------------
At 31 July 2025	341,391	135,323	32,160	508,874
	--------------	-----------	---------	--------------
Carrying amount
At 31 July 2025	701,784	82,380	1,840	786,004
	--------------	-----------	---------	--------------
At 31 July 2024	626,204	97,636	2,453	726,293
	--------------	-----------	---------	--------------

7. Debtors

	2025	2024
	£	£
Trade debtors	10,249	18,353
Other debtors	18,602	19,710
	---------	---------
	28,851	38,063
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	247,481	113,742
Trade creditors	93,793	88,739
Social security and other taxes	78,991	–
Other creditors	37,416	65,106
	-----------	-----------
	457,681	267,587
	-----------	-----------

Liabilities totalling £12,400 (2024-£12,961) are secured against the assets of the company.

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

	2025	2024
	£	£
Bank loans and overdrafts	319,340	261,122
Other creditors	300,000	324,375
	-----------	-----------
	619,340	585,497
	-----------	-----------

Liabilities totalling £319,340 (2024-£243,797) are secured against the assets of the company.