| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| Stearn Farms Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| Stearn Farms Limited |
| Stearn Farms Limited (Registered number: 00875088) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Stearn Farms Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 5 Church Street |
| Framlingham |
| Woodbridge |
| Suffolk |
| IP13 9BQ |
| Stearn Farms Limited (Registered number: 00875088) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Merger reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Stearn Farms Limited (Registered number: 00875088) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Stearn Farms Limited (Registered number: 00875088) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Stearn Farms Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| In meeting the companies working capital requirements the companies bankers have agreed to continue to support the company. On the basis that the director considers, with the continued support of its bankers, it appropriate to prepare the financial statements on a going concern basis the financial statements do not include any adjustments that would result from the withdrawal of the banks support. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold Property - Land | - |
| Buildings | - |
| Improvements to property | - |
| Plant and machinery | - |
| Freehold properties are not depreciated on the basis that the open market value is not less than the net book value. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| The valuation has been prepared for stocktaking purposes and for incorporation in the accounts, in accordance with the Inland Revenue Business Economic Notes BEN19. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Stearn Farms Limited (Registered number: 00875088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Improvements |
| Property | to |
| - Land | Buildings | property |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Stearn Farms Limited (Registered number: 00875088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 April 2024 |
| Additions |
| Transfer to ownership | (349,826 | ) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Transfer to ownership | (163,590 | ) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Stearn Farms Limited (Registered number: 00875088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 | 520 |
| NET BOOK VALUE |
| At 31 March 2025 | 520 |
| At 31 March 2024 | 520 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 437,986 | 486,602 |
| VAT |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Loan from R P Stearn Trust | 295,000 | 295,000 |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Other creditors |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Hire purchase contracts |
| Stearn Farms Limited (Registered number: 00875088) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 389,225 | 507,747 |
| Bank borrowings are secured by a debenture over the company's assets. Net obligations under hire purchase contracts are secured on the assets to which they relate. Mr S J Stearn director has provided as guarantees as security against the bank borrowings. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 386,834 | 354,800 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Movement in year | 32,034 |
| Balance at 31 March 2025 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |