Company registration number 07187076 (England and Wales)
GALLAGHER FARMS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
GALLAGHER FARMS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GALLAGHER FARMS LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5,198
5,198
Tangible assets
4
185,871
168,147
191,069
173,345
Current assets
Stocks
149,000
179,000
Debtors
5
23,724
678,689
Cash at bank and in hand
228,516
325,370
401,240
1,183,059
Creditors: amounts falling due within one year
6
(375,799)
(1,177,254)
Net current assets
25,441
5,805
Total assets less current liabilities
216,510
179,150
Provisions for liabilities
(1,052)
(7,804)
Net assets
215,458
171,346
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
215,358
171,246
Total equity
215,458
171,346
GALLAGHER FARMS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2025
30 September 2025
- 2 -

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.

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.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 23 June 2026 and are signed on its behalf by:
Mr P Gallagher
Director
Company registration number 07187076 (England and Wales)
GALLAGHER FARMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
1
Accounting policies
Company information

Gallagher Farms Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Leitrim House, Little Preston, Coldharbour Lane, Aylesford, Maidstone, Kent, ME20 7NS.

1.1
Basis of preparation

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
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for the following;

- The sale of livestock is at the point of sale

- Agricultural maintenance and estate management fees are for the period to which they relate

- Rental income is recognised in the period to which the lease relates

1.3
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:

Land entitlement
Land entitlements are not amortised
1.4
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% Straight line
Motor vehicles
25% Straight line

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.

GALLAGHER FARMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

The company measure biological stock under the fair value model and recognises the fair value at each reporting date. Changes in fair value are recognised in profit or loss.

The biological stock is valued at the current market rate less cost to sell.

1.6
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.

1.7
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.

1.8
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit and loss on a straight line basis over the term of the relevant lease.

As lessor

When the company acts as a lessor, a lease is classified as a finance lease whenever it transfers substantially all the risks and rewards of ownership of the underlying asset to the lessee, either at the end of the lease term or for the major part of the economic life of the asset. All other leases are classified as operating leases. If an arrangement contains both lease and non-lease components, the company allocates the consideration in the contract to the two elements.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

GALLAGHER FARMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 5 -
2
Employees

The company had no employees during the financial year. All labour was supplied by related parties. Labour services were provided by Gallagher Resources Limited until July 2025 and Gallagher Aggregates Limited from August 2025.

2025
2024
Number
Number
Total
0
0
3
Intangible fixed assets
Other
£
Cost
At 1 October 2024 and 30 September 2025
5,198
Amortisation and impairment
At 1 October 2024 and 30 September 2025
-
0
Carrying amount
At 30 September 2025
5,198
At 30 September 2024
5,198
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2024
521,051
Additions
85,757
Disposals
(500)
At 30 September 2025
606,308
Depreciation and impairment
At 1 October 2024
352,904
Depreciation charged in the year
68,033
Eliminated in respect of disposals
(500)
At 30 September 2025
420,437
Carrying amount
At 30 September 2025
185,871
At 30 September 2024
168,147
GALLAGHER FARMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 6 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
17,918
Other debtors
23,724
660,771
23,724
678,689

The amounts owed by related parties and companies under common control (Included in other debtors) are interest free, with no security and no fixed repayment terms.

6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
11,789
29,212
Taxation and social security
21,445
140,923
Other creditors
342,565
1,007,119
375,799
1,177,254

The amounts owed to related parties and companies under common control (Included in other creditors) are interest free, with no security and no fixed repayment terms.

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