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Registered number: 00424030 HEATH FARMS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 SEPTEMBER 2025
HEATH FARMS LIMITED REGISTERED NUMBER:00424030
STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 1,046,809 |  | 1,053,662
Investments | 6 |  | 23,040 |  | 23,040
Investment property | 7 |  | 1,521,258 |  | 1,521,258
|  |  | 2,591,107 |  | 2,597,960
Current assets |  |  |  |  |
Stocks |  | 450,597 |  | 366,706 |
Debtors: amounts falling due within one year | 8 | 54,076 |  | 67,396 |
Cash at bank and in hand |  | 10,296 |  | 10,302 |
|  | 514,969 |  | 444,404 |
Creditors: amounts falling due within one year | 9 | (481,671) |  | (539,193) |
Net current assets/(liabilities) |  |  | 33,298 |  | (94,789)
Total assets less current liabilities |  |  | 2,624,405 |  | 2,503,171
Creditors: amounts falling due after more than one year | 10 |  | (1,027,619) |  | (1,037,439)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (302,202) |  | (269,430) |
|  |  | (302,202) |  | (269,430)
Net assets |  |  | 1,294,584 |  | 1,196,302
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 3,630 |  | 3,630
Share premium account | 13 |  | 3,500 |  | 3,500
Capital redemption reserve | 13 |  | 1,370 |  | 1,370
Other reserves | 13 |  | 11,412 |  | 11,412
Profit and loss account | 13 |  | 1,274,672 |  | 1,176,390
|  |  | 1,294,584 |  | 1,196,302
Page 1
HEATH FARMS LIMITED REGISTERED NUMBER:00424030
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 SEPTEMBER 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ N C Hood
Director
Date: 13 March 2026
The notes on pages 3 to 15 form part of these financial statements. Page 2
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1. | General information
Heath Farms,Limited is a private company limited by shares and incorporated in England and Wales, registration number 00424030. The registered office is Heath Farm, Woodbastwick, Norwich, NR13 6JN. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of turnover can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of turnover can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Page 3
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.7 | Pensions
Defined contribution pension plan 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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Page 4
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.9 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Land & buildings | - | Not depreciated
|  |  |  | Plant & machinery | - | 15% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.11 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.12 | Valuation of investments
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income Statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
| 2.13 | Stocks
Stocks are stated at cost. Cost is calculated for livestock and crops in stock on a deemed cost basis calculated as estimated selling price less a fixed percentage. Growing crops are valued at cost and sundry stores at purchase cost on a first in, first out basis. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. Page 5
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.14 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.15 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.16 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.17 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.18 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities 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 the deduction of all its liabilities. Page 6
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.18 | Financial instruments (continued)
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
3. | Employees
| The average monthly number of employees, including directors, during the year was 4 (2024 - 4).
4. | Intangible assets
|  | Sugar Beet Quota
|  | £
| Cost |
| At 1 October 2024 | 5,490
| At 30 September 2025 | 5,490
| Amortisation |
| At 1 October 2024 | 5,490
| At 30 September 2025 | 5,490
| Net book value |
| At 30 September 2025 | -
| At 30 September 2024 | -
Page 7
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
5. | Tangible fixed assets
|  | Land & Buildings | Plant & machinery | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 October 2024 | 1,100,208 | 1,447,180 | 2,547,388
| Additions | 11,000 | 187,200 | 198,200
| Disposals | (2,895) | (126,422) | (129,317)
| At 30 September 2025 | 1,108,313 | 1,507,958 | 2,616,271
| Depreciation |  |  |
| At 1 October 2024 | 631,787 | 861,939 | 1,493,726
| Charge for the year on owned assets | 69,624 | 112,219 | 181,843
| Disposals | (1,158) | (104,949) | (106,107)
| At 30 September 2025 | 700,253 | 869,209 | 1,569,462
| Net book value |  |  |
| At 30 September 2025 | 408,060 | 638,749 | 1,046,809
| At 30 September 2024 | 468,421 | 585,241 | 1,053,662
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Plant and machinery | 518,617 | 450,138
|  | 518,617 | 450,138
Page 8
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
6. | Fixed asset investments
|  | Unlisted investments
|  | £
| Cost or valuation |
| At 1 October 2024 | 23,040
| At 30 September 2025 | 23,040
Page 9
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
7. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 October 2024 | 1,521,258
| At 30 September 2025 | 1,521,258
The 2025 valuations were made by the directors, on an open market value for existing use basis.
| At 30 September 2025
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | 560,890 | 560,890
|  | 560,890 | 560,890
Page 10
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
8. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 30,081 | 50,304
| Other debtors | 19,928 | 14,413
| Prepayments and accrued income | 4,067 | 2,679
|  | 54,076 | 67,396
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 212,917 | 235,649
| Bank loans | 27,021 | 24,618
| Trade creditors | 93,028 | 105,246
| Obligations under finance lease and hire purchase contracts | 99,229 | 106,231
| Other creditors | 3,666 | 5,553
| Accruals and deferred income | 45,810 | 61,896
|  | 481,671 | 539,193
Page 11
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 511,767 | 527,360
| Other loans | 445,542 | 445,542
| Net obligations under finance leases and hire purchase contracts | 70,310 | 64,537
|  | 1,027,619 | 1,037,439
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans and overdraft | 738,477 | 770,638
| Hire purchase contracts | 169,539 | 170,768
|  | 908,016 | 941,406
| Details of security provided:
Amounts owed to Barclays Bank Plc are secured by a fixed charge over 42.99 hectares or thereabouts of land at Cherry tree Farm, Witton, Norfolk. The amounts payable under hire purchase contracts are secured on the relevant assets. Page 12
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
11. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 27,021 | 24,618
|  | 27,021 | 24,618
| Amounts falling due 1-2 years |  |
| Bank loans | 27,618 | 24,618
|  | 27,618 | 24,618
| Amounts falling due 2-5 years |  |
| Bank loans | 84,655 | 73,855
|  | 84,655 | 73,855
| Amounts falling due after more than 5 years |  |
| Bank loans | 399,494 | 428,887
| Other loans | 445,542 | 445,542
|  | 845,036 | 874,429
|  | 984,330 | 997,520
Page 13
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
12. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 99,230 | 106,231
| Between 1-5 years | 70,309 | 64,537
|  | 169,539 | 170,768
Page 14
HEATH FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
13. | Reserves
Share premium account This reserve records the amount above the nominal value received for shares sold, less transactional costs. Capital redemption reserve The capital redemption reserve records the nominal value of shares repurchased by the company. Other reserves The other reserves represent the balance of the fair value of the BPS entitlements. Profit & loss account The profit and loss account includes all current and prior period retained profits and losses. The non distributable profits total £797,957 (2024 - £809,369), the balance of distributable profits are £476,715 (2024 - £452,002).
14. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,089 (2024 - £9,993). Contributions totalling £Nil (2024- £Nil) were payable to the fund at the reporting date and are included in creditors.
Page 15