REGISTERED NUMBER: 00676800 (England and Wales)

FRIEND FARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J I H Friend

Mrs S S Friend

Mr A J H Friend

SECRETARY:

Mrs S S Friend

REGISTERED OFFICE:

The Old Rectory

Mucklestone

Market Drayton

Shropshire

TF9 4DN

REGISTERED NUMBER:

00676800 (England and Wales)

ACCOUNTANTS:

Murray Smith LLP

Chartered Accountants

Darland House

44 Winnington Hill

Northwich

Cheshire

CW8 1AU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

364,546

353,346

364,546

353,346

CURRENT ASSETS

Stocks

223,786

200,475

Debtors

6

177,195

180,144

Cash at bank

-

50,725

400,981

431,344

CREDITORS

Amounts falling due within one year

7

445,888

474,269

NET CURRENT LIABILITIES

(44,907

)

(42,925

)

TOTAL ASSETS LESS CURRENT LIABILITIES

319,639

310,421

CREDITORS

Amounts falling due after more than one year

8

64,624

79,974

NET ASSETS

255,015

230,447

CAPITAL AND RESERVES

Called up share capital

10

7,000

7,000

Retained earnings

248,015

223,447

SHAREHOLDERS' FUNDS

255,015

230,447

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.

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 23 July 2026 and were signed on its behalf by:

Mr J I H Friend - Director

1.	STATUTORY INFORMATION

Friend Farms Limited 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 represents net invoiced sales of goods and services, excluding value added tax.

Intangible fixed assets

Milk quota is amortised at an annual rate of 10% straight line in order to write off the asset over its estimated useful life.

Tangible fixed assets

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

Land and buildings

-

5% on reducing balance

Plant and machinery etc

-

33% on reducing balance, 20% on reducing balance and 10% 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.

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.

Herd

The company takes advantage of the provisions of section 97 of the Income and Corporation Taxes Act 1988, by treating the dairy herd as a fixed asset. In accordance with these provisions, the value of the herd is the original stock value at the date of commencement of the herd basis, plus subsequent additions to the herd valued at the cost of rearing or purchase as appropriate. Replacement animals are allocated the herd value of their predecessors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Milk

quota

£

COST

At 1 November 2024

and 31 October 2025

496,352

AMORTISATION

At 1 November 2024

and 31 October 2025

496,352

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Buildings

machinery

Herd

Totals

£

£

£

£

COST

At 1 November 2024

228,121

691,526

193,518

1,113,165

Additions

-

23,821

3,600

27,421

At 31 October 2025

228,121

715,347

197,118

1,140,586

DEPRECIATION

At 1 November 2024

184,046

575,773

-

759,819

Charge for year

2,204

14,017

-

16,221

At 31 October 2025

186,250

589,790

-

776,040

NET BOOK VALUE

At 31 October 2025

41,871

125,557

197,118

364,546

At 31 October 2024

44,075

115,753

193,518

353,346

The herd has been valued in accordance with the accounting policy outlined above. The market value of the herd at 31 October 2025 was £548,900 (2024 : £500,400).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

134,692

142,328

Other debtors

42,503

37,816

177,195

180,144

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

93,315

118,722

Trade creditors

320,045

301,354

Taxation and social security

-

1,004

Other creditors

32,528

53,189

445,888

474,269

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

64,624

79,974

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

-

22,974

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

79,315

106,722

Bank loans

78,624

91,974

157,939

198,696

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

7,000

Ordinary

£1

7,000

7,000

11.	RELATED PARTY DISCLOSURES

During the period the company occupied land owned by Mr J I H Friend, Mrs S S Friend and Mr J I H Friend's Children's DGW Trust. The company paid rent of £33,447 (2024 - £27,926) for the land. The company is responsible for repairs to the properties on all of the land.

The company's bank overdraft was secured by personal guarantees, limited to the amounts shown below.

£

Mr J I H Friend

160,000

The bank loan is secured by 193 acres of land owned by Mr J I H Friend.

Mrs S S Friend has made a loan to the company. The loan is repayable on demand, and interest was charged at base rate plus 1.5%. At the period end the balance on the loan was £6,365 (2024 - £6,004).

Mrs S S Friend and Mr J I H Friend's Children's DGW Trust has made a loan to the company. The loan is repayable on demand, and interest was charged at base rate plus 1.5%. At the period end the balance on the loan was £10,077 (2024 - £9,800).

12.	ULTIMATE CONTROLLING PARTY