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# SKY PARK FARM LTD

## Company Registration Number:
12568168 (England and Wales)

## Unaudited abridged accounts for the year ended 30 April 2025

## Period of accounts

## Start date: 01 May 2024

## End date: 30 April 2025

# SKY PARK FARM LTD

## Contents of the Financial Statements

for the Period Ended 30 April 2025

Balance sheet |
Notes |

# SKY PARK FARM LTD

## Balance sheet

As at 30 April 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Called up share capital not paid: |  | 0 | 0
Fixed assets
Intangible assets: | 3 | 2,735,487 | 1,931,401
Tangible assets: | 4 | 2,119,915 | 2,093,133
Investments: |  | 0 | 0
Total fixed assets: |  | 4,855,402 | 4,024,534
Current assets
Stocks: |  | 250,241 | 262,953
Debtors: |  | 73,879 | 71,770
Cash at bank and in hand: |  | 60,033 | 67,570
Investments: |  | 0 | 0
Total current assets: |  | 384,153 | 402,293
Creditors: amounts falling due within one year: |  | (280,798) | (276,576)
Net current assets (liabilities): |  | 103,355 | 125,717
Total assets less current liabilities: |  | 4,958,757 | 4,150,251
Creditors: amounts falling due after more than one year: | 5 | (6,027,736) | (4,669,982)
Provision for liabilities: |  | 0 | 0
Total net assets (liabilities): |  | (1,068,979) | (519,731)
Capital and reserves
Called up share capital: |  | 2,000,000 | 2,000,000
Share premium account: |  | 0 | 0
Revaluation reserve: |  | 0 | 0
Other reserves: |  | 0 | 0
Profit and loss account: |  | (3,068,979) | (2,519,731)
Shareholders funds: |  | (1,068,979) | (519,731)

The notes form part of these financial statements

# SKY PARK FARM LTD

## Balance sheet statements

For the year ending 30 April 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 April 2026
and signed on behalf of the board by:

Name: Mr P M Noonan
Status: Director

The notes form part of these financial statements

# SKY PARK FARM LTD

## Notes to the Financial Statements

for the Period Ended 30 April 2025

## 1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

## Turnover policy

Turnover Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

## Tangible fixed assets and depreciation policy

Tangible fixed assets Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Freehold land and buildings 1% straight line Plant and equipment 25% straight line Fixtures and fittings 25% straight line Motor vehicles 25% Straight line Equipment 25% straight line Fencing, drainage & landscaping 10% straight line 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.

## Intangible fixed assets and amortisation policy

Intangible fixed assets other than goodwill Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the cost or value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Development costs 2% straight line Research and development Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

## Other accounting policies

Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units. Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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. Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. 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. Cash at bank and in hand Cash at bank and in hand 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 current liabilities. Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. Classification of 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 deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

# SKY PARK FARM LTD

## Notes to the Financial Statements

for the Period Ended 30 April 2025

## 2. Employees

| 2025 | 2024
--- | --- | ---
Average number of employees during the period | 41 | 49

# SKY PARK FARM LTD

## Notes to the Financial Statements

for the Period Ended 30 April 2025

## 3. Intangible Assets

| Total
--- | ---
Cost | £
At 01 May 2024 | 1,995,664
Additions | 861,224
Disposals | 0
Revaluations | 0
Transfers | 0
At 30 April 2025 | 2,856,888
Amortisation |
At 01 May 2024 | 64,263
Charge for year | 57,138
On disposals | 0
Other adjustments | 0
At 30 April 2025 | 121,401
Net book value |
At 30 April 2025 | 2,735,487
At 30 April 2024 | 1,931,401

# SKY PARK FARM LTD

## Notes to the Financial Statements

for the Period Ended 30 April 2025

## 4. Tangible Assets

| Total
--- | ---
Cost | £
At 01 May 2024 | 2,609,223
Additions | 322,295
Disposals | (28,500)
Revaluations | 0
Transfers | 0
At 30 April 2025 | 2,903,018
Depreciation |
At 01 May 2024 | 516,090
Charge for year | 272,368
On disposals | (5,355)
Other adjustments | 0
At 30 April 2025 | 783,103
Net book value |
At 30 April 2025 | 2,119,915
At 30 April 2024 | 2,093,133

# SKY PARK FARM LTD

## Notes to the Financial Statements

for the Period Ended 30 April 2025

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

The Agricultural Mortgage Corporation PLC hold a charge over Land forming part of Manor Farm, West Harting, Petersfield, Hampshire. The mortgage is repayable at £5,660 per quarter including interest of 3.36% and is repayable by 1 June 2040. Creditors which fall due after five years and are payable by instalments are 2025 £172,988 (2024 £195,628).