Company No: 00583458 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	3,060		4,590
Tangible assets	4	107,938		108,027
Investments	5	57		57
		111,055		112,674
Current assets
Stocks		292,130		284,115
Debtors	6	219,327		81,832
Cash at bank and in hand		213,005		523,565
		724,462		889,512
Creditors: amounts falling due within one year	7	( 180,785)		( 262,323)
Net current assets		543,677		627,189
Total assets less current liabilities		654,732		739,863
Net assets		654,732		739,863
Capital and reserves
Called-up share capital		50,000		50,000
Share premium account		6,682		6,682
Profit and loss account		598,050		683,181
Total shareholders' funds		654,732		739,863

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of MacRae Farms Limited (registered number: 00583458) were approved and authorised for issue by the Director on 14 August 2026. They were signed on its behalf by:

Lord P V Fisher Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MacRae Farms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Kilverstone Hall, Thetford, Norfolk, IP24 2RL, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of MacRae Farms Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Turnover

Turnover comprises income from the sale of produce from farming activities during the year. Sales of goods are recognised when goods are delivered and title has passed. Turnover also includes Basic Payment Scheme receipts which are recognised when received and other grants received during the year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

4 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Plant and machinery	20 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	30 % reducing balance
Computer equipment	10 years straight line
Other property, plant and equipment	10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		4

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2025	6,120		6,120
At 31 March 2026	6,120		6,120
Accumulated amortisation
At 01 April 2025	1,530		1,530
Charge for the financial year	1,530		1,530
At 31 March 2026	3,060		3,060
Net book value
At 31 March 2026	3,060		3,060
At 31 March 2025	4,590		4,590

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£		£		£		£
Cost
At 01 April 2025	254,898		446,020		30,243		238,485		2,365		160,081		1,132,092
Additions	0		0		21,050		3,524		0		0		24,574
Disposals	0		( 20,039)		0		0		0		0		( 20,039)
At 31 March 2026	254,898		425,981		51,293		242,009		2,365		160,081		1,136,627
Accumulated depreciation
At 01 April 2025	254,079		350,788		29,970		228,986		161		160,081		1,024,065
Charge for the financial year	289		19,046		1,384		3,819		124		0		24,662
Disposals	0		( 20,038)		0		0		0		0		( 20,038)
At 31 March 2026	254,368		349,796		31,354		232,805		285		160,081		1,028,689
Net book value
At 31 March 2026	530		76,185		19,939		9,204		2,080		0		107,938
At 31 March 2025	819		95,232		273		9,499		2,204		0		108,027

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2025	57		57
At 31 March 2026	57		57
Carrying value at 31 March 2026	57		57
Carrying value at 31 March 2025	57		57

6. Debtors

	2026		2025
	£		£
Trade debtors	30,382		54,798
Prepayments and accrued income	48,643		9,638
VAT recoverable	21,830		3,321
Corporation tax	16,702		0
Other debtors	101,770		14,075
	219,327		81,832

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	136,898		219,036
Accruals	42,624		25,314
Corporation tax	0		16,702
Other taxation and social security	1,263		1,271
	180,785		262,323