Brett Vale Farming Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 13350572 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

Brett Vale Farming Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C P Course

G Westwood

M G Pratt

O M Pratt

P W Chaplin

A D Chaplin

REGISTERED OFFICE:

Dairy Farm Office

Dairy Road

Semer

IP7 6RA

REGISTERED NUMBER:

13350572 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

4

878,352

717,707

CURRENT ASSETS

Stocks

5

27,652

20,794

Debtors

6

241,400

182,863

Cash at bank

17,634

12,200

286,686

215,857

CREDITORS

Amounts falling due within one year

7

432,587

155,385

NET CURRENT (LIABILITIES)/ASSETS

(145,901

)

60,472

TOTAL ASSETS LESS CURRENT
LIABILITIES

732,451

778,179

CREDITORS

Amounts falling due after more than one
year

8

(57,604

)

(102,672

)

PROVISIONS FOR LIABILITIES

10

(142,188

)

(142,523

)

NET ASSETS

532,659

532,984

CAPITAL AND RESERVES

Called up share capital

11

1,000

Retained earnings

12

531,659

531,984

SHAREHOLDERS' FUNDS

532,659

532,984

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 1 June 2026 and were signed on its behalf by:

G Westwood - Director

1.	STATUTORY INFORMATION

Brett Vale Farming Company 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis. The balance sheet shows net current liabilities of £145,901 (2024 net current assets: £60,472). The net assets overall were £532,659 (2024: £532,984). The company is reliant on loans from its shareholders, who have indicated that they will not call the loans for repayment until sufficient working capital is in the company to do so.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from services is recognised when the service is carried out.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, 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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans 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.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government and other grants

Government grants on capital expenditure are credited to a deferred account and are released to revenue over the expected useful life of the relevant asset by equal annual instalments.

Income received under the EU Basic Payment scheme is not recognised as income until the point at which the following criteria are both met:

- A valid application form has been submitted and accepted by the Rural Payments Agency and

- The relevant land has been eligible for the entire calender year to 31 December.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 November 2024

1,047,809

20,600

1,068,409

Additions

264,222

6,000

270,222

At 31 October 2025

1,312,031

26,600

1,338,631

DEPRECIATION

At 1 November 2024

341,760

8,942

350,702

Charge for year

105,913

3,664

109,577

At 31 October 2025

447,673

12,606

460,279

NET BOOK VALUE

At 31 October 2025

864,358

13,994

878,352

At 31 October 2024

706,049

11,658

717,707

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 November 2024

and 31 October 2025

250,425

DEPRECIATION

At 1 November 2024

43,222

Charge for year

31,080

At 31 October 2025

74,302

NET BOOK VALUE

At 31 October 2025

176,123

At 31 October 2024

207,203

5.

STOCKS

31.10.25

31.10.24

£

Finished goods

27,652

20,794

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

Trade debtors

18,390

38,645

Amts owed by related party

-

144,218

Other debtors

154,671

-

VAT

49,905

-

Prepayments and accrued income

18,434

-

241,400

182,863

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

Hire purchase contracts

38,456

34,087

Trade creditors

40,752

14,776

Amounts owed to related party

161,445

-

Social security and other taxes

5,969

4,863

VAT

-

81,099

Other creditors

155,660

1,047

Directors' loan accounts

6,162

8,575

Accruals and deferred income

24,143

10,938

432,587

155,385

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.10.25

31.10.24

£

Hire purchase contracts

48,646

89,964

Accruals and deferred income

8,958

12,708

57,604

102,672

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.25

31.10.24

£

Hire purchase contracts

87,102

124,051

Hire purchase liabilities are secured by the individual assets to which the liabilities relate.

10.	PROVISIONS FOR LIABILITIES

31.10.25

31.10.24

£

Deferred tax

Accelerated capital allowances

219,588

179,427

Tax losses carried forward

(77,400

)

(36,904

)

142,188

142,523

Deferred

tax

£

Balance at 1 November 2024

142,523

Credit to Income Statement during year

(335

)

Balance at 31 October 2025

142,188

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.25

31.10.24

value:

£

500

Ordinary A

£1

500

Ordinary B

£1

500

1,000

Ordinary shares A and Ordinary shares B rank pari pasu except in relation to return of capital. The return of capital is dependent on the capital they transferred to the joint venture company on participation.

12.

RESERVES

Retained

earnings

£

At 1 November 2024

531,984

Deficit for the year

(325

)

At 31 October 2025

531,659

13.	PENSION COMMITMENTS

The company operates a defined contribution 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 £4,254 (2024: £4,493). The pension contributions outstanding at the year end amounted to £989 (2024: £1,047).

14.	CAPITAL COMMITMENTS

31.10.25

31.10.24

£

Contracted but not provided for in the

financial statements

281,900

-

15.	RELATED PARTY DISCLOSURES

The related parties, AJ Pratt & Sons and Heathpatch Limited have provided the company with loans to fund the purchase of plant and machinery.

There are also regular transactions with related parties which include the above companies. All transactions are at arms length. The total transactions with related parties is summarised below:

2025

2024

£

Sales

678,495

888,378

Purchases

337,702

249,805

Management fees payable

26,804

26,600

Loan interest payable

-

9,330

Rent payable

11,700

-

Amounts owed to related parties

161,445

-

Amounts owed by related parties

-

144,218

At the year end Brett Vale Farming Company Limited owed a balance of £4,992 (2024: £2,752) to Mr Martin Pratt, a director and shareholder of the company, in relation to director wages and expenses.

At the year end Brett Vale Farming Company Limited owed a balance of £1,170 (2024: £5,823) to Mr Oliver Pratt, a director and shareholder of the company, in relation to director wages and expenses.

16.	POST BALANCE SHEET EVENTS

On 1 September 2025, an additional member joined the the joint venture company. The shareholders agreement stated that the new member be treated as being a shareholder from this date. However, the shares were not issued until 4 March 2026. Accordingly, at the balance sheet date, the company reports an amount owed from the new member, W D Chaplin Farms of £154,671. This has been treated as an other creditor until it was converted to shares at the date of issue. This amount was converted to 500 £1 Ordinary C shares for £309.34 per share. See note 9.

The Ordinary C shares have the same voting and dividend rights as Ordinary A and Ordinary B shares. However, they do not rank pari pasu in relation to return of capital. The return of capital is dependent on the capital they transferred to the joint venture company on participation.