REGISTERED NUMBER: 04677781 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2026

for

The Packhouse Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A J Hougham

J H D Cree

REGISTERED OFFICE:

Hewetts Kilns

Tongham Road

Runfold

Farnham

Surrey

GU10 1PJ

REGISTERED NUMBER:

04677781 (England and Wales)

ACCOUNTANTS:

Whiteleys

Chartered Certified Accountants

Sovereign House

155 High Street

Aldershot

Hampshire

GU11 1TT

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

1,783,315

1,876,816

1,783,315

1,876,816

CURRENT ASSETS

Stocks

7

256,899

249,472

Debtors

8

6,045

6,609

Investments

9

202,969

-

Cash at bank and in hand

42,512

166,214

508,425

422,295

CREDITORS

Amounts falling due within one year

10

339,942

318,757

NET CURRENT ASSETS

168,483

103,538

TOTAL ASSETS LESS CURRENT LIABILITIES

1,951,798

1,980,354

CREDITORS

Amounts falling due after more than one year

11

(1,012,053

)

(1,158,890

)

PROVISIONS FOR LIABILITIES

(8,500

)

(25,987

)

NET ASSETS

931,245

795,477

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

931,243

795,475

SHAREHOLDERS' FUNDS

931,245

795,477

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 19th August 2026 and were signed on its behalf by:

Mrs A J Hougham - Director

1.	STATUTORY INFORMATION

The Packhouse 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company’s interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over its useful life, which is estimated to be ten years.

Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be ten years.

Goodwill amortisation is included in administrative expenses in the statement of comprehensive

income.

Tangible fixed assets

Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Freehold property

-

2% on cost

Improvements to property

-

20% on cost and 25% reducing balance

Plant & machinery

-

25% and 15% reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Website

-

25% on reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases

The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.

Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Operating lease payments are recognised as an expense on a straight line basis over the lease term.

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.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2025 - 19 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2025

and 31st March 2026

63,500

AMORTISATION

At 1st April 2025

and 31st March 2026

63,500

NET BOOK VALUE

At 31st March 2026

-

At 31st March 2025

-

6.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1st April 2025

2,240,849

81,226

180,438

Additions

-

-

1,133

Disposals

-

-

(155,000

)

At 31st March 2026

2,240,849

81,226

26,571

DEPRECIATION

At 1st April 2025

469,358

73,488

99,410

Charge for year

23,468

1,935

4,643

Eliminated on disposal

-

-

(82,964

)

At 31st March 2026

492,826

75,423

21,089

NET BOOK VALUE

At 31st March 2026

1,748,023

5,803

5,482

At 31st March 2025

1,771,491

7,738

81,028

Fixtures

and

Motor

fittings

vehicles

Website

Totals

£

£

£

£

COST

At 1st April 2025

100,383

2,300

16,779

2,621,975

Additions

-

15,450

-

16,583

Disposals

-

-

-

(155,000

)

At 31st March 2026

100,383

17,750

16,779

2,483,558

DEPRECIATION

At 1st April 2025

85,944

1,006

15,953

745,159

Charge for year

3,609

4,186

207

38,048

Eliminated on disposal

-

-

-

(82,964

)

At 31st March 2026

89,553

5,192

16,160

700,243

NET BOOK VALUE

At 31st March 2026

10,830

12,558

619

1,783,315

At 31st March 2025

14,439

1,294

826

1,876,816

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

Plant and

machinery

£

COST

At 1st April 2025

155,000

Disposals

(155,000

)

At 31st March 2026

-

DEPRECIATION

At 1st April 2025

80,157

Charge for year

2,807

Eliminated on disposal

(82,964

)

At 31st March 2026

-

NET BOOK VALUE

At 31st March 2026

-

At 31st March 2025

74,843

7.

STOCKS

2026

2025

£

£

Stocks

256,899

249,472

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

5,584

5,454

Other debtors

461

1,155

6,045

6,609

9.	CURRENT ASSET INVESTMENTS

2026

2025

£

£

Listed investments

202,969

-

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

79,253

81,406

Hire purchase contracts (see note 12)

-

10,408

Trade creditors

43,380

40,124

Taxation and social security

83,286

54,492

Other creditors

134,023

132,327

339,942

318,757

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

962,050

1,043,246

Hire purchase contracts (see note 12)

-

53,211

Other creditors

50,003

62,433

1,012,053

1,158,890

12.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2026

2025

£

£

Net obligations repayable:

Within one year

-

10,408

Between one and five years

-

53,211

-

63,619

Non-cancellable

operating leases

2026

2025

£

£

Within one year

54,226

49,610

Between one and five years

-

18,226

54,226

67,836

13.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

1,038,658

1,111,568

The bank loans are secured by fixed and floating charges over the land and buildings of The Packhouse Limited.

14.	RELATED PARTY DISCLOSURES

During the year, Palm House (at The Packhouse) Ltd charged The Packhouse Limited £639 (£2,658 - YE 2025) for services.

The Packhouse Limited charged Palm House (at The Packhouse) Ltd £36,080 (£16,757 - YE 2025) for management fees; £38,077 (£30,802 - YE 2025) for the rental of property and equipment, plus £8,390 (£8,686 - YE 2025) for services.

At the balance sheet date, Palm House (at The Packhouse) Ltd was owed from The Packhouse Limited, the sum of £80,081 (£80,882 - YE 2025).

The Palm House (at The Packhouse) Ltd charged The Packhouse Ltd interest during the year, to the sum of £1,893 (£1,244 - YE 2025).

The Packhouse Limited is a company in which the director and shareholder, A Hougham, has a material interest.