Registration number: 02808177

D R and A Higgins & Son Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

D R and A Higgins & Son Limited

Company Information

Directors

D R Higgins D N Higgins R Higgins

Company secretary

C P Higgins

Registered office

Bentley Ford Farm Longnor Shrewsbury Shropshire SY5 7QH

Accountants

CBSL Accountants Limited Chartered Accountants Rowan House North 1 The Professional Quarter Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

D R and A Higgins & Son Limited

(Registration number: 02808177)
Balance Sheet as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	227,795	232,688
Tangible assets	5	1,687,344	1,625,045
		1,915,139	1,857,733
Current assets
Stocks	6	405,257	379,377
Debtors	7	76,395	77,165
		481,652	456,542
Creditors: Amounts falling due within one year	8	(383,509)	(351,983)
Net current assets		98,143	104,559
Total assets less current liabilities		2,013,282	1,962,292
Creditors: Amounts falling due after more than one year	8	(1,480,614)	(1,496,685)
Provisions for liabilities		(81,216)	(60,973)
Net assets		451,452	404,634
Capital and reserves
Called up share capital	9	232,462	232,462
Share premium reserve		130,171	130,171
Retained earnings		88,819	42,001
Shareholders' funds		451,452	404,634

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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

D R and A Higgins & Son Limited

(Registration number: 02808177)
Balance Sheet as at 30 April 2025

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 18 March 2026 and signed on its behalf by:
 

D N Higgins Director

D R and A Higgins & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bentley Ford Farm
Longnor
Shrewsbury
Shropshire
SY5 7QH

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

D R and A Higgins & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% reducing balance
Freehold buildings	2% straight line
Freehold land	Not depreciated

Intangible assets

The acquired milk quota is shown at historical cost.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Milk quota	Equal instalments over useful economic life.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the company.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated over the useful life of the asset. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined 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.

D R and A Higgins & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 3).

4	Intangible assets

	Milk quota £	Total £
Cost or valuation
At 1 May 2024	330,548	330,548
At 30 April 2025	330,548	330,548
Amortisation
At 1 May 2024	97,860	97,860
Amortisation charge	4,893	4,893
At 30 April 2025	102,753	102,753
Carrying amount
At 30 April 2025	227,795	227,795
At 30 April 2024	232,688	232,688

D R and A Higgins & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

5	Tangible assets

	Land and buildings £	Other tangible assets £	Total £
Cost or valuation
At 1 May 2024	1,091,396	900,826	1,992,222
Additions	-	236,500	236,500
Disposals	-	(199,000)	(199,000)
At 30 April 2025	1,091,396	938,326	2,029,722
Depreciation
At 1 May 2024	1,721	365,456	367,177
Charge for the year	4,075	64,829	68,904
Eliminated on disposal	-	(93,703)	(93,703)
At 30 April 2025	5,796	336,582	342,378
Carrying amount
At 30 April 2025	1,085,600	601,744	1,687,344
At 30 April 2024	1,089,675	535,370	1,625,045

Included within the carrying value of £1,687,344 are assets under finance leases with a net book value of £463,967 (2024 - £378,276). The depreciation charge for the year on these assets amounted to £49,321 (2024 - £37,028).

Included within the net book value of land and buildings above is £1,085,600 (2024 - £1,089,675) in respect of freehold land and buildings.
 

6

Stocks

	2025 £	2024 £
Other inventories	405,257	379,377

D R and A Higgins & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7

Debtors

Current	2025 £	2024 £
Trade debtors	71,834	71,565
Prepayments	896	121
Other debtors	3,665	5,479
	76,395	77,165

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	281,998	268,108
Trade creditors		91,567	73,861
Taxation and social security		910	492
Accruals and deferred income		8,220	6,120
Other creditors		814	3,402
		383,509	351,983

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	1,480,614	1,496,685

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	76,712	76,712	118,556	118,556
Ordinary B shares of £1 each	155,750	155,750	113,906	113,906
	232,462	232,462	232,462	232,462

D R and A Higgins & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	1,312,672	1,365,044
Finance lease liabilities	167,942	131,641
	1,480,614	1,496,685

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	52,371	56,696
Bank overdrafts	154,571	137,262
Finance lease liabilities	75,056	74,150
	281,998	268,108

The bank borrowings and the finance lease liabilities are secured.

11	Related party transactions

At 30 April 2025 a balance of £201 was due to the directors (2024 - £3,402), which is included in Other creditors. This balance is unsecured, interest free and with no fixed terms of repayment.