Registration number: 03840707

Somerset Farmers Markets Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Somerset Farmers Markets Ltd

Company Information

Directors

J Hoskyns G Heselton C D Webster V White R Keevil

Company secretary

R Keevil

Registered office

Burton Sweet Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE

Accountants

Burton Sweet Limited Chartered Accountants and Business Advisers Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE

Somerset Farmers Markets Ltd

(Registration number: 03840707)
Balance Sheet
30 November 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	246	516
Current assets
Debtors	6	3,039	4,187
Cash at bank and in hand		33,356	25,014
		36,395	29,201
Creditors: Amounts falling due within one year	7	(4,747)	(4,300)
Net current assets		31,648	24,901
Net assets		31,894	25,417
Reserves
Retained earnings		31,894	25,417
Surplus		31,894	25,417

Somerset Farmers Markets Ltd

(Registration number: 03840707)
Balance Sheet
30 November 2025

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 August 2026 and signed on its behalf by:
 

......................................... C D Webster Director

Somerset Farmers Markets Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2025

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Burton Sweet
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

These financial statements were authorised for issue by the Board on 16 August 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Somerset Farmers Markets Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2025

Tax

The tax expense for the period comprises current 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 corporation 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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
Plant and machinery	25% per annum straight line

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business and are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Somerset Farmers Markets Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 7).

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	161	271

Somerset Farmers Markets Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2025

5	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 December 2024	1,085	1,085
Disposals	(271)	(271)
At 30 November 2025	814	814
Depreciation
At 1 December 2024	569	569
Charge for the year	161	161
Eliminated on disposal	(162)	(162)
At 30 November 2025	568	568
Carrying amount
At 30 November 2025	246	246
At 30 November 2024	516	516

6

Debtors

	2025 £	2024 £
Trade debtors	168	802
Other debtors	29	-
Prepayments	775	1,986
Accrued income	2,067	1,399
	3,039	4,187

Somerset Farmers Markets Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	-	3
Trade creditors		449	278
Taxation and social security		1,731	743
Accruals and deferred income		2,567	3,276
		4,747	4,300

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	-	3