Silverfin false false 31/12/2025 01/01/2025 31/12/2025 Mr J Phillips 08/01/2020 Mr N Phillips 10/08/1992 27 April 2026 The principal activity of the company during the financial year is retailing of agricultural supplies. 00417626 2025-12-31 00417626 bus:Director1 2025-12-31 00417626 bus:Director2 2025-12-31 00417626 2024-12-31 00417626 core:CurrentFinancialInstruments 2025-12-31 00417626 core:CurrentFinancialInstruments 2024-12-31 00417626 core:ShareCapital 2025-12-31 00417626 core:ShareCapital 2024-12-31 00417626 core:RetainedEarningsAccumulatedLosses 2025-12-31 00417626 core:RetainedEarningsAccumulatedLosses 2024-12-31 00417626 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-12-31 00417626 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2025-12-31 00417626 core:LandBuildings 2024-12-31 00417626 core:PlantMachinery 2024-12-31 00417626 core:Vehicles 2024-12-31 00417626 core:FurnitureFittings 2024-12-31 00417626 core:ComputerEquipment 2024-12-31 00417626 core:LandBuildings 2025-12-31 00417626 core:PlantMachinery 2025-12-31 00417626 core:Vehicles 2025-12-31 00417626 core:FurnitureFittings 2025-12-31 00417626 core:ComputerEquipment 2025-12-31 00417626 bus:OrdinaryShareClass1 2025-12-31 00417626 bus:PreferenceShareClass1 2025-12-31 00417626 bus:PreferenceShareClass2 2025-12-31 00417626 2025-01-01 2025-12-31 00417626 bus:FilletedAccounts 2025-01-01 2025-12-31 00417626 bus:SmallEntities 2025-01-01 2025-12-31 00417626 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 00417626 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 00417626 bus:Director1 2025-01-01 2025-12-31 00417626 bus:Director2 2025-01-01 2025-12-31 00417626 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2025-01-01 2025-12-31 00417626 core:LandBuildings core:TopRangeValue 2025-01-01 2025-12-31 00417626 core:PlantMachinery 2025-01-01 2025-12-31 00417626 core:Vehicles 2025-01-01 2025-12-31 00417626 core:FurnitureFittings 2025-01-01 2025-12-31 00417626 core:ComputerEquipment core:TopRangeValue 2025-01-01 2025-12-31 00417626 2024-01-01 2024-12-31 00417626 core:LandBuildings 2025-01-01 2025-12-31 00417626 core:ComputerEquipment 2025-01-01 2025-12-31 00417626 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 00417626 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 00417626 bus:PreferenceShareClass1 2025-01-01 2025-12-31 00417626 bus:PreferenceShareClass1 2024-01-01 2024-12-31 00417626 bus:PreferenceShareClass2 2025-01-01 2025-12-31 00417626 bus:PreferenceShareClass2 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00417626 (England and Wales)

# G. PHILLIPS & SONS (THE FARMERS FRIEND) LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

G. PHILLIPS & SONS (THE FARMERS FRIEND) LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

G. PHILLIPS & SONS (THE FARMERS FRIEND) LIMITED

## BALANCE SHEET

As at 31 December 2025
G. PHILLIPS & SONS (THE FARMERS FRIEND) LIMITED

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 232,844 |  | 230,297
|  | 232,844 |  | 230,297
Current assets |  |  |  |
Stocks |  | 499,748 |  | 480,242
Debtors | 5 | 4,448 |  | 3,865
Cash at bank and in hand |  | 246,685 |  | 248,799
|  | 750,881 |  | 732,906
Creditors: amounts falling due within one year | 6 | ( 154,284) |  | ( 171,145)
Net current assets |  | 596,597 |  | 561,761
Total assets less current liabilities |  | 829,441 |  | 792,058
Provision for liabilities |  | ( 25,000) |  | ( 23,000)
Net assets |  | 804,441 |  | 769,058
Capital and reserves |  |  |  |
Called-up share capital | 7 | 9,500 |  | 9,500
Profit and loss account |  | 794,941 |  | 759,558
Total shareholders' funds |  | 804,441 |  | 769,058

For the financial year ending 31 December 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 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 G. Phillips & Sons (The Farmers Friend) Limited (registered number: 00417626) were approved and authorised for issue by the Board of Directors on 27 April 2026. They were signed on its behalf by:

Mr N Phillips Director |

G. PHILLIPS & SONS (THE FARMERS FRIEND) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
G. PHILLIPS & SONS (THE FARMERS FRIEND) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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 year, unless otherwise stated.

##### General information and basis of accounting

G. Philips & Sons (The Farmers Friend) 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 17 & 18 Cowick Street, Exeter, EX4 1AL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover comprises the fair value of the consideration received or receivable goods and provision of services in the ordinary course of the company's activities.

##### Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

##### 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.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs | 3 years straight line

##### 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 both a straight-line, and reducing balance basis over its expected useful life, as follows:

Land and buildings | 50 years straight line
Plant and machinery | 13 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 10 % reducing balance
Computer equipment | 3 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.

##### 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 6 |  | 6

#### 3. Intangible assets

| Website costs |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2025 | 7,110 |  | 7,110
At 31 December 2025 | 7,110 |  | 7,110
Accumulated amortisation |  |  |
At 01 January 2025 | 7,110 |  | 7,110
At 31 December 2025 | 7,110 |  | 7,110
Net book value |  |  |
At 31 December 2025 | 0 |  | 0
At 31 December 2024 | 0 |  | 0

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 January 2025 | 194,427 |  | 8,300 |  | 148,073 |  | 57,480 |  | 3,561 |  | 411,841
Additions | 0 |  | 0 |  | 42,077 |  | 0 |  | 0 |  | 42,077
Disposals | 0 |  | ( 7,868) |  | ( 58,395) |  | ( 4,858) |  | 0 |  | ( 71,121)
At 31 December 2025 | 194,427 |  | 432 |  | 131,755 |  | 52,622 |  | 3,561 |  | 382,797
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 January 2025 | 56,499 |  | 7,874 |  | 67,182 |  | 47,011 |  | 2,978 |  | 181,544
Charge for the financial year | 3,808 |  | 40 |  | 20,291 |  | 1,034 |  | 352 |  | 25,525
Disposals | 0 |  | ( 7,741) |  | ( 44,647) |  | ( 4,728) |  | 0 |  | ( 57,116)
At 31 December 2025 | 60,307 |  | 173 |  | 42,826 |  | 43,317 |  | 3,330 |  | 149,953
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 December 2025 | 134,120 |  | 259 |  | 88,929 |  | 9,305 |  | 231 |  | 232,844
At 31 December 2024 | 137,928 |  | 426 |  | 80,891 |  | 10,469 |  | 583 |  | 230,297

Land and Buildings represents Freehold Property

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Prepayments | 3,823 |  | 3,408
Other debtors | 625 |  | 457
| 4,448 |  | 3,865

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

| 2025 |  | 2024
| £ |  | £
Trade creditors | 4,853 |  | 24,635
Accruals | 6,700 |  | 5,239
Taxation and social security | 47,731 |  | 45,886
Other creditors | 95,000 |  | 95,385
| 154,284 |  | 171,145

Included in Other Creditors due within one year are 'B' preference shares with a carrying amount of £95,000 (2024 - £95,000).
The 'B' preference shares of £1 each are redeemable. They are redeemable at £1 per share and carry no voting rights.
The 'B' preference shares have a dividend rate of 6% per annum or, if greater, 0.5% of annual profit before tax.
The terms of the 'B' preference shares are such that six months notice must be served by either the company or the shareholder.

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,500 Ordinary shares of £ 1.00 each | 1,500 |  | 1,500
8,000 Preference A shares of £ 1.00 each | 8,000 |  | 8,000
95,000 Redeemable 'B' preference shares of £ 1.00 each | 95,000 |  | 95,000
| 103,000 |  | 103,000
| 104,500 |  | 104,500