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Company No: 02702613 (England and Wales)

# SHARPHAM PARTNERSHIP LIMITED

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

SHARPHAM PARTNERSHIP LIMITED

## Unaudited Financial Statements

For the financial year ended 30 September 2025

Contents

SHARPHAM PARTNERSHIP LIMITED

## BALANCE SHEET

As at 30 September 2025
SHARPHAM PARTNERSHIP LIMITED

## BALANCE SHEET (continued)

As at 30 September 2025

| Note | 30.09.2025 |  | 30.09.2024
|  | £ |  | £
|  |  |  | Restated - note 2
Fixed assets |  |  |  |
Tangible assets | 4 | 623,185 |  | 565,594
|  | 623,185 |  | 565,594
Current assets |  |  |  |
Stocks |  | 77,666 |  | 72,704
Debtors | 5 | 119,647 |  | 96,707
Cash at bank and in hand |  | 7,128 |  | 198
|  | 204,441 |  | 169,609
Creditors: amounts falling due within one year | 6 | ( 452,062) |  | ( 441,504)
Net current liabilities |  | (247,621) |  | (271,895)
Total assets less current liabilities |  | 375,564 |  | 293,699
Creditors: amounts falling due after more than one year | 7 | ( 237,901) |  | ( 156,797)
Provision for liabilities |  | ( 6,125) |  | 6,330
Net assets |  | 131,538 |  | 143,232
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Profit and loss account |  | 131,438 |  | 143,132
Total shareholder's funds |  | 131,538 |  | 143,232

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Sharpham Partnership Limited (registered number: 02702613) were approved and authorised for issue by the Board of Directors on 09 March 2026. They were signed on its behalf by:

Mr G J Parsons Director |

SHARPHAM PARTNERSHIP LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2025
SHARPHAM PARTNERSHIP LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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 period, unless otherwise stated.

##### General information and basis of accounting

Sharpham Partnership 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 Sharpham Dairy Unit 1, South Devon Food Hub, Totnes, TQ9 6PW, 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 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.

##### Prior year adjustment

As part of the preparation of the financial statements for the year ended 30 September 2025, the comparative amounts were restated to adjust for the interest arrangement on a loan and for presentational purposes. A detailed breakdown of the adjustment is given in Note 2.
During the year, the company reviewed the presentation of certain expenses within the profit and loss account. As a result of this review, a small number of transactions were reclassified to more appropriate headings. These adjustments were purely presentational in nature and have been reflected by restating the comparative figures.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

##### Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax.
The company recognises revenue based on it's value of the goods to date.

##### 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### 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:

Biological assets | not depreciated
Leasehold improvements | 17 years straight line
Plant and machinery | 15 - 25 % reducing balance
Vehicles | 5 years straight line
Fixtures and fittings | 4 years straight line
Office equipment | 4 years straight line

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.

##### 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 Statement of Income and Retained Earnings 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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to it's selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

##### 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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Defined contribution pension obligation

A defined pension contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

#### 2. Prior year adjustment

As part of the preparation of the financial statements for the year ended 30 September 2025, the comparative amounts were restated (detailed below) to adjust for the interest arrangement on a loan.

|  | As previously reported |  | Adjustment |  | As restated
Year ended 30 September 2024 |  | £ |  | £ |  | £
Interest Payable |  | (754) |  | (2,640) |  | (3,394)
Sales |  | 397,408 |  | 2,200 |  | 399,608
Other Debtors - VAT |  | 23,698 |  | (440) |  | 23,258

In addition to the above, the comparative amounts were also restated in relation to reclassification of some administrative expenses for presentational purposes. There is no impact on the profit figure as a result of these reclassifications.

#### 3. Employees

| Year ended 30.09.2025 |  | Period from 01.04.2024 to 30.09.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 11 |  | 11

#### 4. Tangible assets

| Biological assets |  | Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 October 2024 | 48,904 |  | 483,548 |  | 315,873 |  | 24,984 |  | 0 |  | 956 |  | 874,265
Additions | 0 |  | 54,880 |  | 26,765 |  | 14,095 |  | 1,580 |  | 863 |  | 98,183
Disposals | 0 |  | 0 |  | ( 1,900) |  | 0 |  | 0 |  | 0 |  | ( 1,900)
At 30 September 2025 | 48,904 |  | 538,428 |  | 340,738 |  | 39,079 |  | 1,580 |  | 1,819 |  | 970,548
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 October 2024 | 0 |  | 11,388 |  | 283,963 |  | 13,200 |  | 0 |  | 120 |  | 308,671
Charge for the financial year | 0 |  | 21,538 |  | 11,734 |  | 6,470 |  | 395 |  | 455 |  | 40,592
Disposals | 0 |  | 0 |  | ( 1,900) |  | 0 |  | 0 |  | 0 |  | ( 1,900)
At 30 September 2025 | 0 |  | 32,926 |  | 293,797 |  | 19,670 |  | 395 |  | 575 |  | 347,363
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |
At 30 September 2025 | 48,904 |  | 505,502 |  | 46,941 |  | 19,409 |  | 1,185 |  | 1,244 |  | 623,185
At 30 September 2024 | 48,904 |  | 472,160 |  | 31,910 |  | 11,784 |  | 0 |  | 836 |  | 565,594
Leased assets included above: |  |  |  |  |  |  |  |  |  |  |  |  |
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |
At 30 September 2025 | 0 |  | 793 |  | 3,728 |  | 3,524 |  | 0 |  | 0 |  | 8,045
At 30 September 2024 | 0 |  | 19,036 |  | 14,911 |  | 10,571 |  | 0 |  | 0 |  | 44,518

#### 5. Debtors

| 30.09.2025 |  | 30.09.2024
| £ |  | £
Trade debtors | 105,246 |  | 72,459
Amounts owed by connected companies | 2,173 |  | 0
Other debtors | 12,228 |  | 24,248
| 119,647 |  | 96,707

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

| 30.09.2025 |  | 30.09.2024
| £ |  | £
Bank loans and overdrafts (secured) | 66,886 |  | 70,978
Trade creditors | 81,289 |  | 62,340
Other taxation and social security | 5,946 |  | 6,222
Obligations under finance leases and hire purchase contracts (secured) | 9,216 |  | 5,249
Other creditors | 288,725 |  | 296,715
| 452,062 |  | 441,504

Hire purchase liabilities are secured on the assets they relate to.
Bank loans are secured on the company's further assets.

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

| 30.09.2025 |  | 30.09.2024
| £ |  | £
Bank loans (secured) | 118,417 |  | 76,797
Obligations under finance leases and hire purchase contracts (secured) | 39,484 |  | 0
Other creditors | 80,000 |  | 80,000
| 237,901 |  | 156,797

Hire purchase liabilities are secured on the assets to which they relate.
Bank loans are secured on the company's further assets.

#### 8. Called-up share capital

| 30.09.2025 |  | 30.09.2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
200 Ordinary shares of £ 0.50 each | 100 |  | 100

#### 9. Financial commitments

Commitments

Capital commitments are as follows:

| 30.09.2025 |  | 30.09.2024
| £ |  | £
Contracted for but not provided for: |  |  |
Finance leases entered into | 1,292 |  | 80
Other | 192,500 |  | 231,000
| 193,792 |  | 231,080