Company No: 08122337 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	2,293,597		1,914,625
		2,293,597		1,914,625
Current assets
Stocks	4	583,280		418,315
Debtors	5	123,273		168,263
		706,553		586,578
Creditors: amounts falling due within one year	6	( 601,526)		( 824,241)
Net current assets/(liabilities)		105,027		(237,663)
Total assets less current liabilities		2,398,624		1,676,962
Creditors: amounts falling due after more than one year	7	( 1,465,261)		( 762,279)
Provision for liabilities		( 371,456)		( 350,073)
Net assets		561,907		564,610
Capital and reserves
Called-up share capital	8	1,000		1,000
Profit and loss account		560,907		563,610
Total shareholders' funds		561,907		564,610

For the financial year ending 30 September 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 Coswarth Farm Limited (registered number: 08122337) were approved and authorised for issue by the Board of Directors on 23 June 2026. They were signed on its behalf by:

Mr G A Thomas Director

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

Coswarth Farm 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 Coswarth Farm, Coswarth, Newquay, TR8 4LZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

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.

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

Leasehold improvements	50 years straight line
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Office equipment	25 % reducing balance

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 October 2024	563,134		2,066,224		2,710		16,100		2,648,168
Additions	118,474		746,484		0		0		864,958
Disposals	0		( 423,395)		0		0		( 423,395)
At 30 September 2025	681,608		2,389,313		2,710		16,100		3,089,731
Accumulated depreciation
At 01 October 2024	48,623		672,347		2,629		9,944		733,543
Charge for the financial year	11,561		255,842		20		2,232		269,655
Disposals	0		( 207,064)		0		0		( 207,064)
At 30 September 2025	60,184		721,125		2,649		12,176		796,134
Net book value
At 30 September 2025	621,424		1,668,188		61		3,924		2,293,597
At 30 September 2024	514,511		1,393,877		81		6,156		1,914,625
Leased assets included above:
Net book value
At 30 September 2025	0		1,334,683		0		0		1,334,683
At 30 September 2024	0		1,145,846		0		0		1,145,846

4. Stocks

	2025		2024
	£		£
Stocks	583,280		418,315

5. Debtors

	2025		2024
	£		£
Trade debtors	22,143		23,561
Prepayments and accrued income	13,416		75,305
VAT recoverable	35,714		16,397
Other debtors	52,000		53,000
	123,273		168,263

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	311,155		553,292
Trade creditors	60,077		13,592
Accruals	19,119		86,140
Other taxation and social security	1,465		2,559
Obligations under finance leases and hire purchase contracts	204,821		164,439
Other creditors	4,889		4,219
	601,526		824,241

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	794,009		272,810
Obligations under finance leases and hire purchase contracts	498,505		415,697
Other creditors	172,747		73,772
	1,465,261		762,279

The company bankers and directors have fixed and floating charges over the company assets.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
250 Ordinary "A" shares shares of £ 1.00 each	250		250
250 Ordinary "B" shares shares of £ 1.00 each	250		250
500 Ordinary "C" shares shares of £ 1.00 each	500		500
	1,000		1,000