REGISTERED NUMBER: 03813823 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2026

for

Bays Leap Dairy Farm Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

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

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

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.

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 ) .

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

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.

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

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 .

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

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.

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

-

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