Company No: 02837906 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	JP Heaver
	HG Heaver

REGISTERED OFFICE	The Estate Office
	West Stoke Farm
	Downs Road
	West Stoke
	Chichester
	West Sussex
	PO18 9BQ
	United Kingdom

COMPANY NUMBER

02837906 (England and Wales)

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	23,370		252,107
Investment property	4	2,770,821		2,770,821
Investments	5	14,000		14,000
		2,808,191		3,036,928
Current assets
Stocks		0		9,080
Debtors
- due within one year	6	491,553		732,147
- due after more than one year	6	1,100,000		550,000
Cash at bank and in hand		698,001		912,382
		2,289,554		2,203,609
Creditors: amounts falling due within one year	7	( 102,688)		( 176,279)
Net current assets		2,186,866		2,027,330
Total assets less current liabilities		4,995,057		5,064,258
Provision for liabilities		( 602,666)		( 618,281)
Net assets		4,392,391		4,445,977
Capital and reserves
Called-up share capital		10,000		10,000
Profit and loss account		4,382,391		4,435,977
Total shareholders' funds		4,392,391		4,445,977

For the financial year ending 31 March 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 year 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 Heaver Farms Limited (registered number: 02837906) were approved and authorised for issue by the Board of Directors on 12 December 2025. They were signed on its behalf by:

JP Heaver Director

1. Accounting policies

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

General information and basis of accounting

Heaver Farms Limited (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 The Estate Office, West Stoke Farm, Downs Road, West Stoke, Chichester, West Sussex, PO18 9BQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover represents the value of goods and services supplied, excluding value added tax. Farming income is recognised on despatch of goods. Rental income is recognised in the period to which it relates.

Taxation

Current tax
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed 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, other than investment property and freehold land, 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:

Plant and machinery etc.

25 - 33 % reducing balance

Leases

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments in subsidiaries are recognised at cost less impairment.

Stocks

Stocks comprise harvested produce and other inventories. These are stated at the lower of cost and estimated selling price less costs to sell.

Trade and other debtors

Trade and other debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade and other debtors are initially recognised at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade and other creditors

Trade and other creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer the settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Grants of a revenue nature from the Rural Payments Agency are credited to the profit and loss account in the year to which they relate. According to the performance model, the full amount of the grant received is recognised as turnover unless there are any unfulfilled conditions attached to the grant, in which case the grant is only recognised on the fulfilment of the conditions. Under the Basic Payment Scheme revenue cannot be recognised as income until the greening provisions are met.

Ordinary share capital

Ordinary shares are classified as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	3		3

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	992,520		992,520
Disposals	( 925,913)		( 925,913)
At 31 March 2025	66,607		66,607
Accumulated depreciation
At 01 April 2024	740,413		740,413
Charge for the financial year	34,377		34,377
Impairment losses	3,231		3,231
Disposals	( 734,784)		( 734,784)
At 31 March 2025	43,237		43,237
Net book value
At 31 March 2025	23,370		23,370
At 31 March 2024	252,107		252,107

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	2,770,821
As at 31 March 2025	2,770,821

Valuation

The investment properties are held at fair value, based on valuations at 31 March 2025, with changes in fair value being recognised in the profit and loss account.

Historic cost

The historic cost of the investment property is as follows:

	2025		2024
	£		£
Historic cost	254,038		254,038

5. Fixed asset investments

	2025		2024
	£		£
Subsidiary undertakings	14,000		14,000

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	14,000
At 31 March 2025	14,000
Carrying value at 31 March 2025	14,000
Carrying value at 31 March 2024	14,000

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.03.2025	Ownership 31.03.2024	Held
Broadbridge Farms Limited	England and Wales	Dormant	Ordinary	100.00%	100.00%	Direct
H R Heaver Limited	England and Wales	Dormant	Ordinary	100.00%	100.00%	Direct

6. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Trade debtors	27,069		49,687
Other debtors	464,484		682,460
	491,553		732,147
Debtors: amounts falling due after more than one year
Other debtors	1,100,000		550,000

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	15,852		17,550
Amounts owed to group undertakings (note 8)	15,740		15,740
Obligations under finance leases and hire purchase contracts	37,568		103,890
Other creditors	33,528		39,099
	102,688		176,279

8. Related party transactions

J P Heaver
J P Heaver is a director of the company. During the year, loans totalling £59,200 were repaid by J P Heaver. At the balance sheet date, the amount due to Heaver Farms Limited from J P Heaver were £198,821 (2024: £258,021) and loans totalling £15,740 (2024: £15,740) were due to group undertakings, of which J P Heaver is a director of. These amounts are interest free and repayable on demand.

Heaver family trusts
In prior periods, loans were made by Heaver Farms Limited to the Heaver family trusts, of which H G Heaver is a trustee or settlor. These loans are unsecured, interest-free and repayable on demand. During the year, loans totalling £59,200 were repaid by the trusts. At the balance sheet date, the amounts due to Heaver Farms Limited were £115,899 (2024: £175,099).