Company No: 09437247 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	386,342		324,872
		386,342		324,872
Current assets
Stocks		3,000		2,500
Debtors	5	403,297		368,565
Cash at bank and in hand		67,854		14,448
		474,151		385,513
Creditors: amounts falling due within one year	6	( 483,130)		( 516,754)
Net current liabilities		(8,979)		(131,241)
Total assets less current liabilities		377,363		193,631
Creditors: amounts falling due after more than one year	7	( 53,073)		( 18,181)
Provision for liabilities	8	( 92,255)		( 76,619)
Net assets		232,035		98,831
Capital and reserves
Called-up share capital		200		200
Profit and loss account		231,835		98,631
Total shareholders' funds		232,035		98,831

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 Cains Farm Limited (registered number: 09437247) were approved and authorised for issue by the Board of Directors on 10 December 2025. They were signed on its behalf by:

C A Brown 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

Cains Farm 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 Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Cains Farm, Chideock, Bridport, Dorset, DT6 6JQ.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company recognises revenue when:
The amount of revenue can be reliably measured.
It is probable that future economic benefits will flow to the company.
Specific criteria have been met for each of the company's activities.

For wholesale produce revenue is recognised when orders are placed.
For transport services revenue is recognised when services are rendered.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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:

Leasehold improvements	10 years straight line
Plant and machinery	25 % reducing balance
Vehicles	20 % reducing balance
Office equipment	25 % 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
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 Profit and Loss Account 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.

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

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer 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.

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. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at X.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	15		15

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	10,000		10,000
At 31 March 2025	10,000		10,000
Accumulated amortisation
At 01 April 2024	10,000		10,000
At 31 March 2025	10,000		10,000
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	3,345		53,260		487,194		1,029		544,828
Additions	0		51,527		101,020		0		152,547
Disposals	0		0		( 46,550)		0		( 46,550)
At 31 March 2025	3,345		104,787		541,664		1,029		650,825
Accumulated depreciation
At 01 April 2024	419		30,100		188,834		603		219,956
Charge for the financial year	334		8,397		61,911		106		70,748
Disposals	0		0		( 26,221)		0		( 26,221)
At 31 March 2025	753		38,497		224,524		709		264,483
Net book value
At 31 March 2025	2,592		66,290		317,140		320		386,342
At 31 March 2024	2,926		23,160		298,360		426		324,872

5. Debtors

	2025		2024
	£		£
Trade debtors	392,961		351,612
Amounts owed by directors	747		9,463
Prepayments	8,847		7,191
Other debtors	742		299
	403,297		368,565

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	10,463		10,205
Trade creditors	303,444		291,819
Amounts owed to directors	66,542		133,387
Accruals	5,515		4,833
Corporation tax	55,616		12,283
Other taxation and social security	26,831		32,907
Obligations under finance leases and hire purchase contracts (secured)	5,984		22,823
Other creditors	8,735		8,497
	483,130		516,754

The obligations under finance leases and hire purchase contracts are secured on the underlying assets which are included within motor vehicles. At the balance sheet date the assets have a net book value of £34,816 (2024 £43,520).

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

	2025		2024
	£		£
Bank loans	1,746		12,197
Obligations under finance leases and hire purchase contracts	0		5,984
Other creditors	51,327		0
	53,073		18,181

Within bank borrowings is a balance of £1,746 (2024- £12,197) relating to an outstanding amount due from a Coronavirus Bounce Back Loan. The UK government have guaranteed 100% of the value of the loan (being £50,000) as well as agreeing to pay interest and fees for the first 12 months.

8. Provision for liabilities

	2025		2024
	£		£
Deferred tax	92,255		76,619

9. Related party transactions

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

C Brown
At 1 April 2024, the balance owed by the director was £9,463. During the year, the company made advances to the director of £11,147 and received repayments of £19,863, leaving a balance due by the director of £747.

At 1 April 2023, the balance owed by the director was £6,551. During the year, the company made advances to the director of £32,912 and received repayments of £30,000, leaving a balance due by the director of £9,463.

Other related party transactions

During the year the company paid rents of £6,500 (2024 - £6,000) to director C A Brown.