ACCOUNTS - Final Accounts preparation

Company Registration Number: 13032888

FARRIES FIELD (STAINBURN) LIMITED

FINANCIAL STATEMENTS

31 MARCH 2025

FARRIES FIELD (STAINBURN) LIMITED

REGISTERED NUMBER: 13032888

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Current assets
Stocks	4	934,112		3,301,696
Debtors: amounts falling due within one year	5	1,897,693		1,612,728
Cash at bank and in hand	6	1,029,058		1,004,235
		3,860,863		5,918,659
Creditors: amounts falling due within one year	7	(3,408,816)		(5,592,864)
Net current assets			452,047		325,795
Total assets less current liabilities			452,047		325,795

Net assets			452,047		325,795

Capital and reserves
Called up share capital	100	100
Profit and loss account	451,947	325,695
	452,047	325,795

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

N J Gordon

Director

Date: 8 December 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

FARRIES FIELD (STAINBURN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Farries Field (Stainburn) Limited's principal activity is that of a housing developer. The company is a private company limited by shares incorporated in England and Wales. The registered office is Agricola House Cowper Road, Gilwilly Industrial Estate, Penrith, England, CA11 9BN.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements are presented in Pound Sterling and are rounded to the nearest pound (£).

The following principal accounting policies have been applied:

2.2

Going concern

Management and the Directors have considered a period of at least twelve months from the date of
sign off when making their assessment with regards to going concern. After consideration of all
factors, including review of forecasted future profitability, headroom in funding facilities and wider
economic conditions, the Directors have continued to adopt the going concern basis in preparing the
financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

FARRIES FIELD (STAINBURN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Current and deferred taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

FARRIES FIELD (STAINBURN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

4.	Stocks
		2025	2024
		£	£

Work in progress - development	819,359	2,811,663
Work in progress - land	114,753	490,033
	934,112	3,301,696

Debtors

					2025	2024
					£	£


Amounts owed by participating interests	1,847,285	1,460,053
Amounts owed by joint ventures and associated undertakings	-	15,709
Other debtors	50,308	136,866
Called up share capital not paid	100	100
	1,897,693	1,612,728

6.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	1,029,058	1,004,235

Page 4

FARRIES FIELD (STAINBURN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Shareholder loans	1,207,655	1,707,655
Amounts owed to connected companies	2,130	-
Corporation tax	56,051	91,532
Other creditors	7,104	-
Accruals and deferred income	2,135,876	3,793,677
	3,408,816	5,592,864

The shareholder loans balance of £1,207,655 is unsecured and interest free.

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares of £1.00 each	100	100

9.	Related party transactions
	At the balance sheet date the company owed £1,207,655 (2024 - £1,707,655) to the Housing Growth Partnership, an entity which holds 50% of the company's share capital. The balance was interest free and repayable upon the final sale of properties.

10.	Controlling party

The company is jointly controlled by Genesis Homes Group Limited and Housing Growth Partnership.

11.	Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 9 December 2025 by Simon Turner (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

Page 5