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Company No: 12613863 (England and Wales)

# APLINS FARMS LIMITED

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

APLINS FARMS LIMITED

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

APLINS FARMS LIMITED

## BALANCE SHEET

As at 30 April 2025
APLINS FARMS LIMITED

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,754,842 |  | 1,629,067
Biological assets | 4 | 1,017,870 |  | 991,350
Investments |  | 150 |  | 150
|  | 2,772,862 |  | 2,620,567
Current assets |  |  |  |
Stocks | 5, 6 | 383,788 |  | 327,278
Debtors | 7 | 334,980 |  | 372,824
Cash at bank and in hand |  | 24,562 |  | 133,320
|  | 743,330 |  | 833,422
Creditors: amounts falling due within one year | 8 | ( 1,377,534) |  | ( 1,565,126)
Net current liabilities |  | (634,204) |  | (731,704)
Total assets less current liabilities |  | 2,138,658 |  | 1,888,863
Creditors: amounts falling due after more than one year | 9 | ( 78,024) |  | ( 54,982)
Provision for liabilities |  | ( 349,272) |  | ( 315,112)
Net assets |  | 1,711,362 |  | 1,518,769
Capital and reserves |  |  |  |
Called-up share capital |  | 600,120 |  | 600,120
Profit and loss account |  | 1,111,242 |  | 918,649
Total shareholders' funds |  | 1,711,362 |  | 1,518,769

For the financial year ending 30 April 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 Aplins Farms Limited (registered number: 12613863) were approved and authorised for issue by the Board of Directors on 04 December 2025. They were signed on its behalf by:

A A Bond Director |

APLINS FARMS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
APLINS FARMS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 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

Aplins 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 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 £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have 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 sale of livestock and milk, the generation and export of electricity, vineyard income and the receipt of government grants. Turnover is shown net of VAT and is recognised at the point of dispatch for the sale of livestock, milk and vineyard produce, when electricity is generated and in the period to which the government grant relates.

##### 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.

##### 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 | 5 % reducing balance
Leasehold improvements | 5 % reducing balance
Plant and machinery | 15 % reducing balance
Vehicles | 15 - 20 % reducing balance
Fixtures and fittings | 10 % 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

Biological assets held for continuing use within the business are classified as fixed assets. Such assets are measured at cost less accumulated depreciation and impairment. Assets within the classification comprise a dairy herd and a sheep flock.
Biological assets not held for continuing use within the business are classified as current biological assets, such assets are held with stock. Such assets are measured at cost less accumulated depreciation and impairment. Assets within the classification comprise of dairy and beef youngstock, sheep 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 comprising agricultural produce (i.e crops in store) are stated at the lower of cost and estimated selling price less costs to complete and sell. Agricultural produce (i.e crops in store) harvested from biological assets are measured at the point of harvest. Also included in stock are Biological current assets not held for continuing use within the business. Such assets are measured at cost less accumulated impairment. Assets within this classification comprise dairy followers, sheep and tillages.

##### 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.

Investments
Other financial assets comprise unlisted fixed asset investments. The unlisted investments include shares which are measured at cost less accumulated impairment.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### Government grants

Income from government grants is recognised within turnover when the conditions for receipt have been complied with and there is reasonable assurance that the grant will be received.

#####

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 15 |  | 12

#### 3. Tangible assets

| Land and buildings |  | Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 May 2024 | 550,256 |  | 0 |  | 764,756 |  | 744,968 |  | 131,820 |  | 2,191,800
Additions | 0 |  | 3,803 |  | 29,360 |  | 610,583 |  | 1,152 |  | 644,898
Disposals | 0 |  | 0 |  | 0 |  | ( 510,544) |  | 0 |  | ( 510,544)
Transfer from Land and buildings to Leasehold improvements | ( 550,256) |  | 550,256 |  | 0 |  | 0 |  | 0 |  | 0
At 30 April 2025 | 0 |  | 554,059 |  | 794,116 |  | 845,007 |  | 132,972 |  | 2,326,154
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 May 2024 | 77,389 |  | 0 |  | 213,335 |  | 240,575 |  | 31,434 |  | 562,733
Charge for the financial year | 0 |  | 23,741 |  | 86,428 |  | 89,035 |  | 10,395 |  | 209,599
Disposals | 0 |  | 0 |  | 0 |  | ( 201,020) |  | 0 |  | ( 201,020)
Transfer from Land and buildings to Leasehold improvements | ( 77,389) |  | 77,389 |  | 0 |  | 0 |  | 0 |  | 0
At 30 April 2025 | 0 |  | 101,130 |  | 299,763 |  | 128,590 |  | 41,829 |  | 571,312
Net book value |  |  |  |  |  |  |  |  |  |  |
At 30 April 2025 | 0 |  | 452,929 |  | 494,353 |  | 716,417 |  | 91,143 |  | 1,754,842
At 30 April 2024 | 472,867 |  | 0 |  | 551,421 |  | 504,393 |  | 100,386 |  | 1,629,067

#### 4. Biological assets

| 2025
| £
Biological assets at cost | 1,017,870

Assets held at cost:

| Dairy |  | Total
| £ |  | £
Cost |  |  |
At 01 May 2024 | 991,350 |  | 991,350
Increase due to purchases/ transfers in | 26,520 |  | 26,520
At 30 April 2025 | 1,017,870 |  | 1,017,870
Net book value |  |  |
At 30 April 2025 | 1,017,870 |  | 1,017,870
At 30 April 2024 | 991,350 |  | 991,350

#### 5. Stocks

| 2025 |  | 2024
| £ |  | £
Livestock | 297,822 |  | 209,627
Crops | 9,485 |  | 20,560
Other stock | 76,481 |  | 97,091
| 383,788 |  | 327,278

#### 6. Current biological assets

Assets held at cost:

| Sheep |  | Dairy |  | Growing crops |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 May 2024 | 16,700 |  | 192,927 |  | 20,560 |  | 230,187
Increase due to purchases/ transfers in | 0 |  | 95,640 |  | 0 |  | 95,640
Increase from new crop costs | 0 |  | 0 |  | 9,485 |  | 9,485
Decrease attributable to sales/ transfers out | (7,445) |  | 0 |  | 0 |  | (7,445)
Decrease resulting from harvesting | 0 |  | 0 |  | (20,560) |  | (20,560)
At 30 April 2025 | 9,255 |  | 288,567 |  | 9,485 |  | 307,307

#### 7. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 206,229 |  | 206,019
Prepayments and accrued income | 60,015 |  | 107,038
VAT recoverable | 68,736 |  | 59,767
| 334,980 |  | 372,824

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 15,729 |  | 19,508
Trade creditors | 300,567 |  | 380,929
Taxation and social security | 40,583 |  | 15,198
Obligations under finance leases and hire purchase contracts (secured) | 71,764 |  | 40,007
Other creditors | 948,891 |  | 1,109,484
| 1,377,534 |  | 1,565,126

The bank loans are secured against assets owned by the directors personally.
The obligations under finance leases and hire purchase contracts are secured against the asset that they relate.
Other creditors include amounts owed to directors, accruals, and deferred income.

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

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 0 |  | 18,613
Obligations under finance leases and hire purchase contracts (secured) | 78,024 |  | 36,369
| 78,024 |  | 54,982

The bank loans are secured against assets owned by the directors personally.
The obligations under finance leases and hire purchase contracts are secured against the asset that they relate.