Registration number: 05622842

Paddocks Farm Partnership Ltd

Contents

Abridged Balance Sheet	1 to 2
Notes to the Unaudited Abridged Financial Statements	3 to 5

Paddocks Farm Partnership Ltd

(Registration number: 05622842)
Abridged Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	3,705	2,413
Tangible assets	5	14,970	18,432
		18,675	20,845
Current assets
Stocks		159,144	147,096
Debtors		419,375	398,742
Cash at bank and in hand		57,860	201,882
		636,379	747,720
Creditors: Amounts falling due within one year		(60,810)	(85,190)
Net current assets		575,569	662,530
Total assets less current liabilities		594,244	683,375
Provisions for liabilities		-	(3,135)
Net assets		594,244	680,240
Capital and reserves
Called up share capital		2	2
Profit and loss account		594,242	680,238
Total equity		594,244	680,240

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Paddocks Farm Partnership Ltd

(Registration number: 05622842)
Abridged Balance Sheet as at 31 October 2025

Approved and authorised by the Board on 30 July 2026 and signed on its behalf by:
 

Mr P M C Millar
Director

Mrs A L Vickery
Director

Mrs C Fane Davies
Director

Paddocks Farm Partnership Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Downclose Farm
Downclose Lane
North Perrott
Crewkerne
Somerset
TA18 7SH

These financial statements were authorised for issue by the Board on 30 July 2026.

2	Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Paddocks Farm Partnership Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2025

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	10% straight line
Fixtures and fittings	25% reducing balance
Office equipment	25% reducing balance
Motor vehicles	25% reducing balance
Plant and machinery	25% reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line
Trademarks, patents and licenses	10% and 25% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 16).

Paddocks Farm Partnership Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2025

4	Intangible assets

	Total £
Cost or valuation
At 1 November 2024	57,094
Additions acquired separately	2,551
At 31 October 2025	59,645
Amortisation
At 1 November 2024	54,681
Amortisation charge	1,259
At 31 October 2025	55,940
Carrying amount
At 31 October 2025	3,705
At 31 October 2024	2,413

5	Tangible assets

	Total £
Cost or valuation
At 1 November 2024	300,293
Additions	1,426
At 31 October 2025	301,719
Depreciation
At 1 November 2024	281,862
Charge for the year	4,887
At 31 October 2025	286,749
Carrying amount
At 31 October 2025	14,970
At 31 October 2024	18,432