Company registration number 07866916 (England and Wales)
OAKS & PITTS FARM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
OAKS & PITTS FARM LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
OAKS & PITTS FARM LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,313,699
1,235,835
Investments
6
100
100
1,313,799
1,235,935
Current assets
Stocks
507,138
447,039
Debtors
5
139,712
147,959
Cash at bank and in hand
67,363
40
714,213
595,038
Creditors: amounts falling due within one year
7
(493,469)
(575,517)
Net current assets
220,744
19,521
Total assets less current liabilities
1,534,543
1,255,456
Creditors: amounts falling due after more than one year
8
(37,896)
(46,587)
Provisions for liabilities
9
(271,096)
(246,513)
Net assets
1,225,551
962,356
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,225,451
962,256
Total equity
1,225,551
962,356

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 31 December 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.

OAKS & PITTS FARM LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

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 6 August 2026 and are signed on its behalf by:
Mr T A D Browne
Ms J R Browne
Director
Director
Company Registration No. 07866916
OAKS & PITTS FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Oaks & Pitts Farm Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

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
Turnover

Turnover represents amounts receivable for agricultural goods and renewable heat incentives net of VAT and trade discounts.

1.3
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:

Land and buildings Leasehold
4% on cost
Plant and machinery
4% or 15% on written down value
Tractors and agricultural vehicles
20% on written down value
Motor vehicles
20% on cost
Biological assets
Zero for the first two years, 5% on cost thereafter

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.

1.4
Stocks

Poultry stocks are valued at the lower of accumulated cost and net realisable valu e.

1.5
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.

OAKS & PITTS FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
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.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

1.8
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.9

Biological assets

Biological assets are recognised only when three recognition criteria have been fulfilled:

- the entity has control over the asset as a result of past events;

- it is probable that future economic benefits associated with the asset will flow to the entity; and

- the fair value or cost of the asset can be measured reliably.

Biological assets comprise an apple orchard planted in 2017. The orchard became productive in summer/autumn 2019 and is being depreciated at 5% per annum on a straight line basis from September 2019.

2
Employees

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

2025
2024
Number
Number
Total
7
5
OAKS & PITTS FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
3
Intangible fixed assets
Goodwill
University fees
Total
£
£
£
Cost
At 1 January 2025 and 31 December 2025
10,000
9,500
19,500
Amortisation and impairment
At 1 January 2025 and 31 December 2025
10,000
9,500
19,500
Carrying amount
At 31 December 2025
-
0
-
0
-
0
At 31 December 2024
-
0
-
0
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Biological assets
Total
£
£
£
£
Cost
At 1 January 2025
267,850
1,946,463
76,581
2,290,894
Additions
-
0
280,517
-
0
280,517
Disposals
-
0
(21,000)
-
0
(21,000)
At 31 December 2025
267,850
2,205,980
76,581
2,550,411
Depreciation and impairment
At 1 January 2025
52,786
981,887
20,386
1,055,059
Depreciation charged in the year
10,699
171,175
3,822
185,696
Eliminated in respect of disposals
-
0
(4,043)
-
0
(4,043)
At 31 December 2025
63,485
1,149,019
24,208
1,236,712
Carrying amount
At 31 December 2025
204,365
1,056,961
52,373
1,313,699
At 31 December 2024
215,064
964,576
56,195
1,235,835
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
20,927
11,074
Other debtors
118,785
136,885
139,712
147,959
OAKS & PITTS FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
6
Fixed asset investments
2025
2024
£
£
Investments
100
100
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
20,820
137,847
Trade creditors
302,310
330,454
Taxation and social security
123,838
77,202
Other creditors
46,501
30,014
493,469
575,517

The bank overdraft and bank loan is secured by a fixed and floating charge over the assets of the company.

Included in other creditors are n et obligations under finance lease and hire purchase contracts £3 5,426 (2024: £16,325) which are secured by fixed charges on the assets concerned.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
6,411
24,376
Other creditors
31,485
22,211
37,896
46,587

The bank loan is secured by a fixed and floating charge over the assets of the company.

Included in other creditors are n et obligations under finance lease and hire purchase contracts £3 1,485 (20 2 4: £22,211) which are secured by fixed charges on the assets concerned.

9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
271,096
246,513
OAKS & PITTS FARM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Deferred taxation
(Continued)
- 7 -
2025
Movements in the year:
£
Liability at 1 January 2025
246,513
Charge to profit or loss
24,583
Liability at 31 December 2025
271,096
10
Directors' transactions
Loans
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Two Directors
3.75
102,137
169,215
1,742
(178,638)
94,456
102,137
169,215
1,742
(178,638)
94,456

The loan to the directors is unsecured and repayable on demand.

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