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REGISTERED NUMBER: 01928553 (England and Wales)

Financial Statements for the Year Ended 30th June 2025

for

Waresley Farms Limited

Waresley Farms Limited (Registered number: 01928553)

Contents of the Financial Statements

for the year ended 30th June 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Waresley Farms Limited

Company Information

for the year ended 30th June 2025

| DIRECTORS: | Mrs R L Banks

| Ms N Kappler

| Ms M Tuke-Hastings

| SECRETARY: | Ms N Kappler

| REGISTERED OFFICE: | Manor Farm

| Manor Farm Road

| Waresley

| Nr Sandy

| Bedfordshire

| SG19 3BX

| REGISTERED NUMBER: | 01928553 (England and Wales)

| ACCOUNTANTS: | Smailes Goldie Limited

| Chartered Accountants

| Regent's Court

| Princess Street

| Hull

| East Yorkshire

| HU2 8BA

Waresley Farms Limited (Registered number: 01928553)

Balance Sheet

30th June 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 1,142,656 |  | 1,094,299 |  |

1,142,656 |  | 1,094,299 |  |

CURRENT ASSETS

Stocks | 419,436 |  | 386,666 |  |

Debtors | 6 | 161,442 |  | 103,059 |  |

Cash at bank and in hand | 7,485 |  | 111,163 |  |

588,363 |  | 600,888 |  |

CREDITORS

Amounts falling due within one year | 7 | 1,214,558 |  | 1,224,561 |  |

NET CURRENT LIABILITIES | (626,195 | ) | (623,673 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 516,461 |  | 470,626 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 237,736 |  | 116,090 |  |

NET ASSETS | 278,725 |  | 354,536 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Capital reserve | 274,789 |  | 274,789 |  |

Retained earnings | 3,836 |  | 79,647 |  |

SHAREHOLDERS' FUNDS | 278,725 |  | 354,536 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Waresley Farms Limited (Registered number: 01928553)

Balance Sheet - continued

30th June 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3rd March 2026 and were signed on its behalf by:

Mrs R L Banks - Director | Ms N Kappler - Director

Ms M Tuke-Hastings - Director

Waresley Farms Limited (Registered number: 01928553)

Notes to the Financial Statements

for the year ended 30th June 2025

1. | STATUTORY INFORMATION

| Waresley Farms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

| Turnover

| Turnover represents sales of farm produce, equine livery and associated income, net of VAT and trade discounts. Turnover is recognised when the economic risks and rewards pass to third parties, usually on the dispatch of goods.

| Intangible fixed assets

| Basic Payment Scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the entitlements have been amortised in full. The original Basic Payment Scheme commenced in 2015 and ceased during 2021.The entitlements to the Basic Payment Scheme were delinked on 15 May 2023.

| Tangible fixed assets

| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Depreciation

| Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

| The annual rates used are as follows:

| Freehold land |  | Nil |  |

| Freehold property |  | 5% on reducing balance and 10% on cost |  |

| Improvements to property |  | 5% on reducing balance |  |

| Plant & machinery |  | 5% - 25% on cost and reducing balance |  |

| Stocks

| Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is estimated selling price in the ordinary course of business, less applicable variable selling expenses.

Waresley Farms Limited (Registered number: 01928553)

Notes to the Financial Statements - continued

for the year ended 30th June 2025

2. | ACCOUNTING POLICIES - continued

| Current & deferred tax

| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities and other future taxable profits.

| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

| Hire purchase agreements

| Tangible fixed assets acquired under hire purchase agreements are capitalised at the estimated fair value at the date of inception of each contract. The finance charges are allocated over the period of the contract in accordance with the effective interest rate method.

| Debtors and creditors receivable/ payable within one year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| 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. If an arrangement constitutes a finance transaction it is measured at present value.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

| Provisions

| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

| Operating lease agreements

| Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

| Government grants

| The company receives government grants in respect of the Basic Payment Scheme, Countryside Stewardship Scheme and Sustainable Farming Incentive under the Common Agricultural Policy. The Basic Payment Scheme is being gradually phased out with payments stopping by the end of the scheme in 2027. These grants are recognised 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 using the performance model.

Waresley Farms Limited (Registered number: 01928553)

Notes to the Financial Statements - continued

for the year ended 30th June 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 8 (2024 - 8 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1st July 2024 | 66,906 |  |

| Disposals | (66,906 | ) |

| At 30th June 2025 | - |  |

| AMORTISATION

| At 1st July 2024 | 66,906 |  |

| Eliminated on disposal | (66,906 | ) |

| At 30th June 2025 | - |  |

| NET BOOK VALUE

| At 30th June 2025 | - |  |

| At 30th June 2024 | - |  |

| Other intangible assets comprise Basic Payment Scheme Entitlements.

5. | TANGIBLE FIXED ASSETS

| Improvements |

| Freehold |  | to |  | Plant and |  | Motor |

| property |  | property |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1st July 2024 | 363,220 |  | - |  | 1,755,492 |  | 23,438 |  | 2,142,150 |  |

| Additions | - |  | 12,026 |  | 283,183 |  | - |  | 295,209 |  |

| Disposals | - |  | - |  | (217,570 | ) | (10,550 | ) | (228,120 | ) |

| At 30th June 2025 | 363,220 |  | 12,026 |  | 1,821,105 |  | 12,888 |  | 2,209,239 |  |

| DEPRECIATION

| At 1st July 2024 | 158,455 |  | - |  | 880,477 |  | 8,919 |  | 1,047,851 |  |

| Charge for year | 6,763 |  | - |  | 107,636 |  | 860 |  | 115,259 |  |

| Eliminated on disposal | - |  | - |  | (87,608 | ) | (8,919 | ) | (96,527 | ) |

| At 30th June 2025 | 165,218 |  | - |  | 900,505 |  | 860 |  | 1,066,583 |  |

| NET BOOK VALUE

| At 30th June 2025 | 198,002 |  | 12,026 |  | 920,600 |  | 12,028 |  | 1,142,656 |  |

| At 30th June 2024 | 204,765 |  | - |  | 875,015 |  | 14,519 |  | 1,094,299 |  |

Waresley Farms Limited (Registered number: 01928553)

Notes to the Financial Statements - continued

for the year ended 30th June 2025

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 59,588 |  | 33,638 |  |

| VAT | 61,247 |  | 26,396 |  |

| Prepayments and accrued income | 40,607 |  | 43,025 |  |

161,442 |  | 103,059 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 73,724 |  | 10,000 |  |

| Other loans | 570,690 |  | 590,690 |  |

| Preference shares | 100,000 |  | 100,000 |  |

| Hire purchase contracts (see note 9) | 49,866 |  | 78,915 |  |

| Trade creditors | 70,140 |  | 37,946 |  |

| Social security and other taxes | 1,290 |  | 1,313 |  |

| Other creditors | 1,000 |  | 18,204 |  |

| Directors' current accounts | 180,746 |  | 149,318 |  |

| Accruals and deferred income | 127,333 |  | 238,175 |  |

| Deferred government grants | 39,769 |  | - |  |

1,214,558 |  | 1,224,561 |  |

| Other loans include £100,000 which is unsecured, carrying interest at 0.25% above base rate, paid quarterly and repayable on demand and loans totalling £490,690 which have no formal terms of repayment in place, no interest is charged and are deemed to be repayable on demand.

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans - 1-2 years | 4,167 |  | 10,000 |  |

| Bank loans - 2-5 years | - |  | 4,167 |  |

| Hire purchase contracts (see note 9) | 233,569 |  | 101,923 |  |

237,736 |  | 116,090 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Hire purchase | 132,604 |  | - |  |

Waresley Farms Limited (Registered number: 01928553)

Notes to the Financial Statements - continued

for the year ended 30th June 2025

9. | LEASING AGREEMENTS

| Minimum lease payments under hire purchase fall due as follows:

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 49,866 |  | 78,915 |  |

| Between one and five years | 100,965 |  | 101,923 |  |

| In more than five years | 132,604 |  | - |  |

283,435 |  | 180,838 |  |

10. | RELATED PARTY DISCLOSURES

| Key management personnel of the entity

|  | 2025 |  | 2024 |  |

| £ |  | £ |  |

| Loans due to related parties |  | 293,787 |  | 275,562 |  |

| The company has occupied land owned by a related party rent-free during the year to 30 June 2025.

| In addition, rent previously accrued and owed to the related party in respect of prior periods, amounting to £105,758, was formally waived during the year. The waiver has been recognised as income in accordance with the company's accounting policies.