Company No: 07170757 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	2,316,280		2,383,088
Biological assets	4	149,900		152,398
		2,466,180		2,535,486
Current assets
Stocks	5, 6	205,661		130,811
Debtors	7	183,482		266,324
Cash at bank and in hand		25,888		1,000
		415,031		398,135
Creditors: amounts falling due within one year	8	( 362,688)		( 372,210)
Net current assets		52,343		25,925
Total assets less current liabilities		2,518,523		2,561,411
Creditors: amounts falling due after more than one year	9	( 776,516)		( 834,724)
Provision for liabilities		( 250,714)		( 262,588)
Net assets		1,491,293		1,464,099
Capital and reserves
Called-up share capital	10	230,100		230,100
Capital redemption reserve		20,000		20,000
Profit and loss account		1,241,193		1,213,999
Total shareholders' funds		1,491,293		1,464,099

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 B M Coombes & Sons Limited (registered number: 07170757) were approved and authorised for issue by the Board of Directors on 22 December 2025. They were signed on its behalf by:

S J Coombes Director		J W Coombes Director
S J Coombes 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

B M Coombes & Sons 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 Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX, 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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of milk and animals in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and the significant risks and rewards are considered to have been transferred to the customer.

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.

Defined contribution pension obligation

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.

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:

Land and buildings	50 years straight line
Plant and machinery	10 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	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.

Biological assets

The Company owns a dairy herd. In accordance with FRS102, these are defined as non-current biological assets.

Such assets are measured at cost less accumulated depreciation and impairment.

Biological assets not held for continuing use within the business are classified as current assets, such assets are held with stock. Such assets are measured at cost less accumulated impairment. Assets within this classification comprise of dairy followers, crops in store and tillages.

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 overheads based on normal levels of activity.

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.

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. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Government grants

Government grants are recognised within other operating income based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		5

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 April 2024	1,559,666		1,451,818		26,779		3,877		3,042,140
Additions	( 18,380)		79,098		7,686		0		68,404
Disposals	0		( 23,251)		( 5,586)		0		( 28,837)
At 31 March 2025	1,541,286		1,507,665		28,879		3,877		3,081,707
Accumulated depreciation
At 01 April 2024	113,325		518,491		24,151		3,085		659,052
Charge for the financial year	21,805		94,512		1,998		322		118,637
Disposals	0		( 7,807)		( 4,455)		0		( 12,262)
At 31 March 2025	135,130		605,196		21,694		3,407		765,427
Net book value
At 31 March 2025	1,406,156		902,469		7,185		470		2,316,280
At 31 March 2024	1,446,341		933,327		2,628		792		2,383,088

4. Biological assets

	2025
	£
Biological assets at cost	149,900

Assets held at cost:

	Dairy		Total
	£		£
Cost
At 01 April 2024	165,487		165,487
Decrease attributable to sales/ transfers out	( 3,187)		( 3,187)
At 31 March 2025	162,300		162,300
Accumulated depreciation
At 01 April 2024	13,089		13,089
Decrease attributable to sales/ transfers out	( 689)		( 689)
At 31 March 2025	12,400		12,400
Net book value
At 31 March 2025	149,900		149,900
At 31 March 2024	152,398		152,398

5. Stocks

	2025		2024
	£		£
Livestock	102,323		77,579
Crops	103,338		53,232
	205,661		130,811

6. Current biological assets

Assets held at cost:

	Dairy		Wheat		Growing crops		Total
	£		£		£		£
Cost
At 01 April 2024	77,579		5,175		48,057		130,811
Increase due to purchases/ transfers in	24,744		1,191		48,915		74,850
At 31 March 2025	102,323		6,366		96,972		205,661

7. Debtors

	2025		2024
	£		£
Trade debtors	115,812		106,274
Other debtors	67,670		160,050
	183,482		266,324

Included within other debtors are loans to directors and third parties, accrued income and amounts due from taxation.

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts (secured)	34,435		77,429
Trade creditors	132,926		82,508
Taxation and social security	63,072		30,666
Obligations under finance leases and hire purchase contracts (secured)	72,091		59,128
Other creditors	60,164		122,479
	362,688		372,210

Bank borrowings are secured on specific freehold land and buildings owned by the company and by a fixed and floating charge. Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.

Included within other creditors are loans from directors and third parties, accruals and deferred income.

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

	2025		2024
	£		£
Bank loans (secured)	640,583		674,231
Obligations under finance leases and hire purchase contracts (secured)	128,416		147,934
Other creditors	7,517		12,559
	776,516		834,724

Bank borrowings are secured on specific freehold land and buildings owned by the company and by a fixed and floating charge. Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
34 A ordinary shares of £ 1.00 each	34		34
33 B ordinary shares of £ 1.00 each	33		33
33 C ordinary shares of £ 1.00 each	33		33
	100		100
230 Preference shares of £ 1,000.00 each	230,000		230,000
	230,100		230,100

11. Related party transactions

Transactions with the entity's directors

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

At 1 April 2024, the balance owed by the directors was £71,932. During the year, £209,496 was advanced to the directors, and £167,606 was repaid by the directors. At 31 March 2025, the balance owed by the directors was £30,042.

At 1 April 2023, the balance owed by the directors was £337,353. During the year, £181,263 was advanced to the directors, and £446,684 was repaid by the directors. At 31 March 2024, the balance owed by the directors was £71,932.