Company No: 06809458 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	774,743		831,208
Biological assets	5	41,400		0
Investments	6	15		15
		816,158		831,223
Current assets
Stocks		267,828		335,491
Debtors	7	496,990		560,484
Cash at bank and in hand		194,737		319,147
		959,555		1,215,122
Creditors: amounts falling due within one year	8	( 1,161,537)		( 939,369)
Net current (liabilities)/assets		(201,982)		275,753
Total assets less current liabilities		614,176		1,106,976
Creditors: amounts falling due after more than one year	9	( 631,541)		( 790,750)
Net (liabilities)/assets		( 17,365)		316,226
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 17,465 )		316,126
Total shareholder's (deficit)/funds		( 17,365)		316,226

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 Heaton Farms Limited (registered number: 06809458) were approved and authorised for issue by the Director on 22 December 2025. They were signed on its behalf by:

Mr A J R Heaton 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

Heaton 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 Tagents Farm, Graffham, Petworth, West Sussex, GU28 0NL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

Going concern

The director has assessed the Balance Sheet and forecasted cash flows covering a period of 12 months from the date of approval of these financial statements. The director notes that the business has net liabilities. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Based on this ongoing financial support, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Turnover

Revenue comprises income from the sale of produce from farming activities during the year. Revenue is recognised when the sale occurs. Revenue also includes Basic Payment Scheme receipts which are recognised on a calendar year basis and other grants received during the year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held
separately from the Company in independently administered funds.

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 enacted or substantively enacted tax rates and laws. 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 assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are stated at cost less amortisation. Owned Basic Payment entitlements are being amortised over their estimated useful economic life.

Entitlements

4 years straight line

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:

Land and buildings	not depreciated
Leasehold improvements	not depreciated
Plant and machinery	25 % reducing balance
Vehicles	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.

Fixed asset investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Stocks

Stocks are stated at the lower of cost and net realisable value. As the cost of production is not known, crops in store are valued at deemed cost which is 75% of market value. Growing crops are included at cost.

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.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in the bank.

Dairy herd

An election has been made under sections 111 - 129 of the Income Tax (Trading and Other Income) Act 2005 for the herd basis to apply to the partnership's herd of dairy cattle.

2. Employees

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

3. Intangible assets

	Entitlements		Total
	£		£
Cost
At 01 April 2024	25,387		25,387
Disposals	( 25,387)		( 25,387)
At 31 March 2025	0		0
Accumulated amortisation
At 01 April 2024	25,387		25,387
Disposals	( 25,387)		( 25,387)
At 31 March 2025	0		0
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Vehicles		Total
	£		£		£		£		£
Cost
At 01 April 2024	136,266		178,193		797,688		17,990		1,130,137
Additions	0		6,538		138,579		10,350		155,467
Disposals	( 56,586)		0		( 5,400)		0		( 61,986)
At 31 March 2025	79,680		184,731		930,867		28,340		1,223,618
Accumulated depreciation
At 01 April 2024	0		2,127		290,056		6,746		298,929
Charge for the financial year	0		0		148,646		3,673		152,319
Disposals	0		0		( 2,373)		0		( 2,373)
At 31 March 2025	0		2,127		436,329		10,419		448,875
Net book value
At 31 March 2025	79,680		182,604		494,538		17,921		774,743
At 31 March 2024	136,266		176,066		507,632		11,244		831,208

5. Biological assets

	2025
	£
Biological assets at cost	41,400

Assets held at cost:

	Dairy		Total
	£		£
Cost
At 01 April 2024	0		0
Increase due to purchases/ transfers in	41,400		41,400
At 31 March 2025	41,400		41,400
Net book value
At 31 March 2025	41,400		41,400
At 31 March 2024	0		0

6. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	15		15
At 31 March 2025	15		15
Carrying value at 31 March 2025	15		15
Carrying value at 31 March 2024	15		15

7. Debtors

	2025		2024
	£		£
Trade debtors	38,753		88,391
Accrued income	380,675		380,675
VAT recoverable	16,527		0
Other debtors	61,035		91,418
	496,990		560,484

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	157		193
Trade creditors	104,605		33,695
Amounts owed to director	130,534		82,397
Accruals	926,241		799,439
Other taxation and social security	0		23,645
	1,161,537		939,369

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

	2025		2024
	£		£
Bank loans	500,000		500,000
Other creditors	131,541		290,750
	631,541		790,750