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REGISTERED NUMBER: 03813823 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2026

for

Bays Leap Dairy Farm Limited

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Contents of the Financial Statements

for the Year Ended 31st March 2026

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Bays Leap Dairy Farm Limited

Company Information

for the Year Ended 31st March 2026

| DIRECTORS: | S C Mellstrom MRICS

| Mrs C A Mellstrom

| SECRETARY: | W Munday

| REGISTERED OFFICE: | Glen House

| Glen Road

| Grayshott

| Hindhead

| Surrey

| GU26 6NF

| REGISTERED NUMBER: | 03813823 (England and Wales)

| ACCOUNTANTS: | Sheen Stickland

| Chartered Accountants

| 2 Oriel Court

| Omega Park

| Alton

| Hampshire

| GU34 2YT

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Balance Sheet

31st March 2026

| 2026 | 2025 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 4,519,054 |  | 4,341,460 |  |

Investments | 5 | 265,807 |  | 265,807 |  |

Investment property | 6 | 250,000 |  | 450,000 |  |

Herd basis | 7 | 413,725 |  | 401,950 |  |

5,448,586 |  | 5,459,217 |  |

CURRENT ASSETS

Stocks | 8 | 960,140 |  | 710,804 |  |

Debtors | 9 | 170,836 |  | 313,846 |  |

Cash at bank | 1,594 |  | 161 |  |

1,132,570 |  | 1,024,811 |  |

CREDITORS

Amounts falling due within one year | 10 | 843,930 |  | 1,142,397 |  |

NET CURRENT ASSETS/(LIABILITIES) | 288,640 |  | (117,586 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,737,226 |  | 5,341,631 |  |

CREDITORS

Amounts falling due after more than one year | 11 | (5,014,177 | ) | (5,120,052 | ) |

PROVISIONS FOR LIABILITIES | 14 | (171,648 | ) | - |  |

NET ASSETS | 551,401 |  | 221,579 |  |

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Balance Sheet - continued

31st March 2026

| 2026 | 2025 |

| as restated |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 15 | 1,295 |  | 1,295 |  |

Share premium | 16 | 1,205,665 |  | 1,205,665 |  |

Fair value reserve | 16 | 20,654 |  | 45,654 |  |

Retained earnings | 16 | (676,213 | ) | (1,031,035 | ) |

SHAREHOLDERS' FUNDS | 551,401 |  | 221,579 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2026 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 13th August 2026 and were signed on its behalf by:

S C Mellstrom MRICS - Director

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Notes to the Financial Statements

for the Year Ended 31st March 2026

1. | STATUTORY INFORMATION

| Bays Leap Dairy Farm 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

| The accounts have been prepared on a going concern basis as the director is confident that the company's bankers will continue to support the company for the foreseeable future.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Entitlements have been fully amortised in the current year.

| Land and buildings

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Land and buildings | - | 2% on cost

| Plant and machinery etc | - | at variable rates on reducing balance

| Land and buildings cost includes land which has not been depreciated.The directors have valued the cost of the land at £1,469,228.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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.

| Dairy herd

| The dairy herd is stated at cost as the company has elected to be taxed on the herd basis.

|  | 2026 |  | 2025 |  |

| Cows in herd |  | 998 |  | 962 |  |

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 28 (2025 - 27 ) .

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

4. | TANGIBLE FIXED ASSETS

| Improvem

| Freehold |  | Agricultural |  | to

| property |  | buildings |  | property

£ | £ | £ |

| COST

| At 1st April 2025 | 1,714,883 |  | 1,264,334 |  | 75,584 |  |

| Additions | - |  | 25,069 |  | 33,158 |  |

| Disposals | - |  | - |  | - |  |

| Reclassification/transfer | 175,000 |  | - |  | - |  |

| At 31st March 2026 | 1,889,883 |  | 1,289,403 |  | 108,742 |  |

| DEPRECIATION

| At 1st April 2025 | 193,475 |  | 204,517 |  | 1,007 |  |

| Charge for year | 8,412 |  | 25,285 |  | 2,931 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31st March 2026 | 201,887 |  | 229,802 |  | 3,938 |  |

| NET BOOK VALUE

| At 31st March 2026 | 1,687,996 |  | 1,059,601 |  | 104,804 |  |

| At 31st March 2025 | 1,521,408 |  | 1,059,817 |  | 74,577 |  |

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

4. | TANGIBLE FIXED ASSETS - continued

| Fixtures |

| Plant and |  | and |

| machinery |  | fittings |  | Totals

£ | £ | £ |

| COST

| At 1st April 2025 | 3,514,425 |  | 2,940 |  | 6,572,166 |  |

| Additions | 302,713 |  | - |  | 360,940 |  |

| Disposals | (91,302 | ) | - |  | (91,302 | ) |

| Reclassification/transfer | - |  | - |  | 175,000 |  |

| At 31st March 2026 | 3,725,836 |  | 2,940 |  | 7,016,804 |  |

| DEPRECIATION

| At 1st April 2025 | 1,829,753 |  | 1,954 |  | 2,230,706 |  |

| Charge for year | 288,830 |  | 148 |  | 325,606 |  |

| Eliminated on disposal | (58,562 | ) | - |  | (58,562 | ) |

| At 31st March 2026 | 2,060,021 |  | 2,102 |  | 2,497,750 |  |

| NET BOOK VALUE

| At 31st March 2026 | 1,665,815 |  | 838 |  | 4,519,054 |  |

| At 31st March 2025 | 1,684,672 |  | 986 |  | 4,341,460 |  |

| Included in cost of land and buildings is freehold land of £ 1,469,288 (2025 - £ 1,469,288 ) which is not depreciated.

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

4. | TANGIBLE FIXED ASSETS - continued

| Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

| Plant and

| machinery

£ |

| COST

| At 1st April 2025 | 215,652 |  |

| Additions | 190,500 |  |

| Transfer to ownership | (70,422 | ) |

| At 31st March 2026 | 335,730 |  |

| DEPRECIATION

| At 1st April 2025 | 44,229 |  |

| Charge for year | 47,241 |  |

| Transfer to ownership | (22,506 | ) |

| At 31st March 2026 | 68,964 |  |

| NET BOOK VALUE

| At 31st March 2026 | 266,766 |  |

| At 31st March 2025 | 171,423 |  |

5. | FIXED ASSET INVESTMENTS

| Investments (neither listed nor unlisted) were as follows:

2026 | 2025 |

| as restated |

£ | £ |

| Arla Milk Cooperative Ltd - Member's Capital | 265,802 |  | 265,802 |  |

| Arla Milk Cooperative Ltd - Share capital | 5 |  | 5 |  |

265,807 |  | 265,807 |  |

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1st April 2025 | 450,000 |  |

| Reclassification/transfer | (200,000 | ) |

| At 31st March 2026 | 250,000 |  |

| NET BOOK VALUE

| At 31st March 2026 | 250,000 |  |

| At 31st March 2025 | 450,000 |  |

| Fair value at 31st March 2026 is represented by:

£ |

| Valuation in 2022 | 20,654 |  |

| Cost | 229,346 |  |

250,000 |  |

| If investment had not been revalued it would have been included at the following historical cost:

2026 | 2025 |

| as restated |

£ | £ |

| Cost | 229,346 |  | 229,346 |  |

| The investment property was valued on an open market basis on 30th April 2025 by youngsRPS .

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

7. | HERD BASIS

| Dairy

| herd

| basis

£ |

| COST

| At 1st April 2025 | 401,950 |  |

| Additions - home bred at cost | 157,700 |  |

| Disposals | (146,400 | ) |

| Bought in - at herd cost | 475 |  |

| At 31st March 2026 | 413,725 |  |

| NET BOOK VALUE

| At 31st March 2026 | 413,725 |  |

| At 31st March 2025 | 401,950 |  |

8. | STOCKS

2026 | 2025 |

| as restated |

£ | £ |

| Valuation | 960,140 |  | 710,804 |  |

9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2026 | 2025 |

| as restated |

£ | £ |

| Trade debtors | 99,089 |  | 64,531 |  |

| Other debtors | 15,612 |  | 181,859 |  |

| VAT | 52,456 |  | 67,456 |  |

| Prepayments | 3,679 |  | - |  |

170,836 |  | 313,846 |  |

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2026 | 2025 |

| as restated |

£ | £ |

| Bank loans and overdrafts | 397,834 |  | 680,327 |  |

| Trade creditors | 264,761 |  | 292,303 |  |

| Taxation and social security | 15,903 |  | 14,579 |  |

| Other creditors | 165,432 |  | 155,188 |  |

843,930 |  | 1,142,397 |  |

11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2026 | 2025 |

| as restated |

£ | £ |

| Bank loans | 4,927,893 |  | 5,106,719 |  |

| Other creditors | 86,284 |  | 13,333 |  |

5,014,177 |  | 5,120,052 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loan | 171,220 |  | 239,956 |  |

| Other creditors includes:

|  | 2026 |  | 2025 |  |

|  | £ |  | £ |  |

| Loan from Exors of G F C Mellstrom Dec'd |  | - |  | 1,206,464 |  |

| This loan is unsecured, interest free and repayable on notice of not less than one year.

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

12. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2026 | 2025 |

| as restated |

£ | £ |

| Within one year | 190,761 |  | 85,842 |  |

| Between one and five years | 651,767 |  | - |  |

842,528 |  | 85,842 |  |

13. | SECURED DEBTS

| The following secured debts are included within creditors:

2026 | 2025 |

| as restated |

£ | £ |

| Bank overdrafts | 349,544 |  | 403,727 |  |

| Bank loans | 4,976,183 |  | 5,383,319 |  |

5,325,727 |  | 5,787,046 |  |

| The loans are secured on the company's freehold land and buildings and it's investment property.

14. | PROVISIONS FOR LIABILITIES

2026 | 2025 |

| as restated |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 171,648 |  | 16,446 |  |

| Tax losses carried forward | - |  | (16,446 | ) |

171,648 |  | - |  |

Bays Leap Dairy Farm Limited (Registered number: 03813823)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2026

14. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Charge to Income Statement during year | 171,648 |  |

| Balance at 31st March 2026 | 171,648 |  |

15. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2026 | 2025 |

| value: |  | as restated |

£ | £ |

| 1,000 | Ordinary | £1 | 1,000 |  | 1,000 |  |

| 295 | A shares | £1 | 295 |  | 295 |  |

1,295 |  | 1,295 |  |

| All classes of share rank pari passu in all respects.

16. | RESERVES

| Fair |

| Retained |  | Share |  | value |

| earnings |  | premium |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1st April 2025 | (1,293,775 | ) | 1,205,665 |  | 45,654 |  | (42,456 | ) |

| Prior year adjustment | 262,740 |  | 262,740 |  |

(1,031,035 | ) | 220,284 |  |

| Profit for the year | 354,822 |  | 354,822 |  |

| Transfer | - |  | - |  | (25,000 | ) | (25,000 | ) |

| At 31st March 2026 | (676,213 | ) | 1,205,665 |  | 20,654 |  | 550,106 |  |