REGISTERED NUMBER: 03033154 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2025

for

G. A. Stephens Sheep Co. Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G A Stephens

H K Stephens

REGISTERED OFFICE:

Pastures View Farm

Thorpe Satchville

Kirby Bellars

Melton Mowbray

Leicestershire

LE14 2TH

REGISTERED NUMBER:

03033154 (England and Wales)

ACCOUNTANTS:

Clayton & Brewill

Chartered Accountants

Cawley House

149-155 Canal Street

Nottingham

Nottinghamshire

NG1 7HR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

210,155

210,436

210,155

210,436

CURRENT ASSETS

Stocks

218,426

228,422

Debtors

9,115

17,900

Prepayments and accrued income

6,255

7,558

233,796

253,880

CREDITORS

Amounts falling due within one year

147,347

188,760

NET CURRENT ASSETS

86,449

65,120

TOTAL ASSETS LESS CURRENT LIABILITIES

296,604

275,556

CREDITORS

Amounts falling due after more than one year

6

(250,474

)

(260,940

)

ACCRUALS AND DEFERRED INCOME

(9,048

)

(5,716

)

NET ASSETS

37,082

8,900

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

36,082

7,900

SHAREHOLDERS' FUNDS

37,082

8,900

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 April 2026 and were signed on its behalf by:

G A Stephens - Director

1.	STATUTORY INFORMATION

G. A. Stephens Sheep Co. Ltd 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.

Turnover

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

Intangible assets

Intangible assets consist of entitlements to the basic payment scheme. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31st December 2019 when the scheme ends.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

12% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% reducing balance

Computer equipment

-

20% 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2024

and 31 October 2025

9,691

AMORTISATION

At 1 November 2024

and 31 October 2025

9,691

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2024

249,500

Additions

672

At 31 October 2025

250,172

DEPRECIATION

At 1 November 2024

39,064

Charge for year

953

At 31 October 2025

40,017

NET BOOK VALUE

At 31 October 2025

210,155

At 31 October 2024

210,436

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans more 5 yr by instal

218,474

236,940

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

125,073

182,184

Bank loans

258,474

266,940

383,547

449,124

The bank loan and overdraft are secured by fixed and floating charges over the farm property and assets including goodwill, book debts, buildings, fixtures and fixed plant and machinery.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2025 and 31 October 2024:

2025

2024

£

£

G A Stephens and H K Stephens

Balance outstanding at start of year

7,236

17,176

Amounts advanced

-

9,111

Amounts repaid

(7,236

)

(19,051

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

7,236