Company No: 02222916 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	2,617,521		2,377,783
		2,617,521		2,377,783
Current assets
Stocks	4	289,089		60,000
Debtors	5	321,832		339,470
Cash at bank and in hand		11,190		113,375
		622,111		512,845
Creditors: amounts falling due within one year	6	( 434,179)		( 380,580)
Net current assets		187,932		132,265
Total assets less current liabilities		2,805,453		2,510,048
Creditors: amounts falling due after more than one year	7	( 580,520)		( 451,981)
Net assets		2,224,933		2,058,067
Capital and reserves
Called-up share capital	8	85,002		85,002
Profit and loss account		2,139,931		1,973,065
Total shareholder's funds		2,224,933		2,058,067

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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Fernley Yeo Limited (registered number: 02222916) were approved and authorised for issue by the Director on 12 December 2025. They were signed on its behalf by:

Mr P Yeo 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

Fernley Yeo 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 Woodlands, Widdacombe Farm, LewdownEX20 4EA, Okehampton, 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities.

The company recognises revenue when the amount of revenue can be reliably measured; and it is probable that future economic benefits will flow to the entity

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	5 % 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	21,286		3,335,901		36,022		45,349		3,438,558
Additions	0		675,779		2,500		2,415		680,694
Disposals	0		( 375,300)		0		0		( 375,300)
At 31 March 2025	21,286		3,636,380		38,522		47,764		3,743,952
Accumulated depreciation
At 01 April 2024	0		1,033,111		24,167		3,497		1,060,775
Charge for the financial year	0		116,617		3,277		8,709		128,603
Disposals	0		( 62,947)		0		0		( 62,947)
At 31 March 2025	0		1,086,781		27,444		12,206		1,126,431
Net book value
At 31 March 2025	21,286		2,549,599		11,078		35,558		2,617,521
At 31 March 2024	21,286		2,302,790		11,855		41,852		2,377,783
Leased assets included above:
Net book value
At 31 March 2025	0		1,497,544		0		0		1,497,544
At 31 March 2024	0		1,024,900		0		0		1,024,900

4. Stocks

	2025		2024
	£		£
Stocks	60,000		60,000
Work in progress	174,289		0
Crops	9,800		0
Other stock	45,000		0
	289,089		60,000

5. Debtors

	2025		2024
	£		£
Trade debtors	277,475		301,071
Other debtors	44,357		38,399
	321,832		339,470

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	120,085		54,651
Other loans	50,000		0
Accruals	3,500		3,350
Other taxation and social security	12,303		44,456
Obligations under finance leases and hire purchase contracts	248,291		278,123
	434,179		380,580

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

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	580,520		451,981

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
85,002 Ordinary shares of £ 1.00 each	85,002		85,002

9. Related party transactions

Transactions with the entity's director

	2025		2024
	£		£
Director's Loan Account	44,357		38,399

Interest charged on overdrawn directors loan account at 2.25%.