Registration number: 10585532

Verney Partners Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Verney Partners Ltd

Company Information

Directors

Mr Frederick Andrew Verney Mrs Janet Verney Mr Frederick Matthew Verney Mr Robert Andrew Verney

Registered office

Parsonage Farm Bishops Nympton South Molton Devon EX36 3QL

Accountants

Ward & Co Consultants Limited West Penhill Farm Fremington Barnstaple Devon EX31 2NG

Verney Partners Ltd

(Registration number: 10585532)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	564,952	431,476
Current assets
Stock	5	196,530	166,783
Debtors	6	94,066	86,536
Cash at bank and in hand		7,730	15,929
		298,326	269,248
Creditors: Amounts falling due within one year	7	(228,110)	(334,406)
Net current assets/(liabilities)		70,216	(65,158)
Total assets less current liabilities		635,168	366,318
Creditors: Amounts falling due after more than one year	7	(133,369)	(49,667)
Provisions for liabilities		(54,996)	(30,934)
Net assets		446,803	285,717
Capital and reserves
Called up share capital	8	1,000	1,000
Retained earnings		445,803	284,717
Shareholders' funds		446,803	285,717

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.

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 and 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 19 August 2026 and signed on its behalf by:
 

Verney Partners Ltd

(Registration number: 10585532)
Balance Sheet as at 31 March 2026

......................................... Mr Frederick Andrew Verney Director ......................................... Mr Robert Andrew Verney Director

......................................... Mrs Janet Verney Director

......................................... Mr Frederick Matthew Verney Director

Verney Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Parsonage Farm
Bishops Nympton
South Molton
Devon
EX36 3QL

These financial statements were authorised for issue by the Board on 19 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current and deferred 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 income 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.

Verney Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 & machinery	10% straight line
Production herd	Valued at historical cost. Movement of cattle to and from the herd over the year are not shown.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stock are assessed for impairment. If stock are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Verney Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2025 - 4).

Verney Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4	Tangible assets

	Production herd £	Plant & machinery £	Total £
Cost or valuation
At 1 April 2025	253,571	249,761	503,332
Additions	9,550	156,740	166,290
At 31 March 2026	263,121	406,501	669,622
Depreciation
At 1 April 2025	-	71,856	71,856
Charge for the year	-	32,814	32,814
At 31 March 2026	-	104,670	104,670
Carrying amount
At 31 March 2026	263,121	301,831	564,952
At 31 March 2025	253,571	177,905	431,476

5

Stock

	2026 £	2025 £
Other inventories	196,530	166,783

6

Debtors

Current	2026 £	2025 £
Trade debtors	52,676	47,965
Other debtors	41,390	38,571
	94,066	86,536

7

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	18,479	46,575
Taxation and social security	25,005	18,245
Other creditors	184,626	269,586
	228,110	334,406

Verney Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	133,369	49,667

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	5,001	15,000
Finance lease liabilities	128,368	34,667
	133,369	49,667

10

Dividends

Interim dividends paid

		2026 £		2025 £
Interim dividend of £25.00 per each Ordinary shares		25,000		25,000

11	Related party transactions

Verney Partners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Directors' remuneration

The directors' remuneration for the year was as follows:

	2026 £	2025 £
Remuneration	37,527	36,384