Company Registration No. 00582429 (England and Wales)
Normanby Farms Limited
Unaudited financial statements
for the year ended 30 September 2025
Pages for filing with the registrar
Normanby Farms Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 7
Normanby Farms Limited
Balance sheet
As at 30 September 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
13,682
12,265
Current assets
Stocks
19,629
114,671
Debtors
5
125,068
206,770
Cash at bank and in hand
38,427
26,463
183,124
347,904
Creditors: amounts falling due within one year
6
(194,505)
(175,887)
Net current (liabilities)/assets
(11,381)
172,017
Net assets
2,301
184,282
Capital and reserves
Called up share capital
7
5,050
5,050
Profit and loss reserves
(2,749)
179,232
Total equity
2,301
184,282

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 24 June 2026 and are signed on its behalf by:
Sir Reginald Sheffield Bt DL
Director
Company Registration No. 00582429
Normanby Farms Limited
Notes to the financial statements
For the year ended 30 September 2025
2
1
Accounting policies
Company information

Normanby Farms Limited is a private company limited by shares incorporated in England and Wales. The registered office is 32 Main Street, Normanby, DN15 9HS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Within creditors: amounts falling due within one year are loans from companies under common control of £85,428. These loans are technically payable on demand but the directors have confirmed there is no intention for these to be recalled within 12 months from the date the financial statements are signed. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements true

1.3
Turnover

Turnover represents amounts invoiced during the year. 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.

1.4
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 fair 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:

Entitlements
4 years on a straight line basis
Normanby Farms Limited
Notes to the financial statements (continued)
For the year ended 30 September 2025
1
Accounting policies (continued)
3
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Plant and machinery
20% or 25% on a straight line basis

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

In order that the financial statements reflect the results of one complete harvest and thus be comparable one with another, crops in store at the accounting date are valued at estimated net realisable value rather than the more usual cost of production basis. Whilst this treatment means that, in some years, unrealised profit is taken earlier than would otherwise be the case, the amounts involved are not considered material. The directors consider that this treatment is more appropriate to the company's business. Other stocks are valued at the lower of costs and net realisable value.

1.8
Cash and cash equivalents

Cash and cash equivalents 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.

1.9
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, 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.

Normanby Farms Limited
Notes to the financial statements (continued)
For the year ended 30 September 2025
1
Accounting policies (continued)
4
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 paymen ts 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. A m ounts 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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
Normanby Farms Limited
Notes to the financial statements (continued)
For the year ended 30 September 2025
5
3
Intangible fixed assets
Entitlements
£
Cost
At 1 October 2024 and 30 September 2025
2,480
Amortisation and impairment
At 1 October 2024 and 30 September 2025
2,480
Carrying amount
At 30 September 2025
-
0
At 30 September 2024
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2024
13,380
Additions
4,525
At 30 September 2025
17,905
Depreciation and impairment
At 1 October 2024
1,115
Depreciation charged in the year
3,108
At 30 September 2025
4,223
Carrying amount
At 30 September 2025
13,682
At 30 September 2024
12,265
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
32,307
32,307
Other debtors
92,761
174,463
125,068
206,770
Normanby Farms Limited
Notes to the financial statements (continued)
For the year ended 30 September 2025
6
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
87,200
74,024
Corporation tax
-
0
598
Other creditors
107,305
101,265
194,505
175,887
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
5,050
5,050
5,050
5,050
8
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
17,966
17,966
9
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
85,428
80,957

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
48,942
48,942
Normanby Farms Limited
Notes to the financial statements (continued)
For the year ended 30 September 2025
7
10
Directors' transactions

L oans have been granted by the company to its directors as follows:

Loans
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Sir Reginald Sheffield Bt. DL
3.75
80,559
40,000
925
(95,900)
25,584
80,559
40,000
925
(95,900)
25,584
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