Billingbear Farm Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

Billingbear Farm Ltd has reported a loss for the year of £404,545 before taxation (2024: loss of

£214,052). At the balance sheet date the company has net assets of £16,035,011 (2024:

£14,939,556). Based on the net asset position and continued support of the ultimate owner of the

company the accounts have been prepared on a going concern basis.

During the year 1,500,000 Ordinary shares at a nominal value of £1 were allotted and issued.

2.3. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the

Company and the turnover can be reliably measured. Turnover is measured as the fair value of the

consideration received or receivable, excluding discounts, rebates, value added tax and other sales

taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually

associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are

provided in accordance with the stage of completion of the contract when all of the following

conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured

reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible

assets are measured at cost less any accumulated amortisation and any accumulated impairment

losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life

cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Basic Payment Scheme entitlements - 6 years

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Billingbear Farm Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Freehold land is not depreciated
Property improvements	4% straight line
Plant & Machinery	20% reducing balance
Office Equipment	20% reducing balance
Assets under construction	not depreciated
Computer Equipment	20% reducing balance

2.6. Investment Properties

Investment property is carried at fair value determined annually by external valuers or the directors

and derived from the current market rents and investment property yields for comparable real estate,

adjusted if necessary for any difference in the nature, location or condition of the specific asset. No

depreciation is provided. Changes in fair value are recognised in profit or loss and then transferred

to the revaluation reserve.

2.7. Stocks and Work in Progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less

costs to complete and sell. Cost is based on the cost of purchase on a normal farming practice

basis.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.8. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.9. Government Grant

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to

expenditure on tangible fixed assets are credited to profit or loss at the same rate as the

depreciation on the assets to which the grant relates. The deferred element of grants is included in

creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same

period as the related expenditure.

2.10. Wages and salaries

A proportion of payroll costs are capitalised each year in relation to building projects undertaken at

the farm.

2.11. Biological assets

Livestock are recognised as biological assets and held at deemed cost. Biological assets are not

further depreciated as the deemed cost valuation method is considered to be a more appropriate

basis than applying systematic depreciation.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 16 (2024: 16)

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Billingbear Farm Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Office Equipment	Assets under construction	Total
	£	£	£	£	£
Cost
As at 1 January 2025	12,563,496	751,060	28,559	427,285	13,770,400
Additions	309,601	60,858	5,169	725,703	1,101,331

As at 31 December 2025	12,873,097	811,918	33,728	1,152,988	14,871,731

Depreciation
As at 1 January 2025	350,999	467,885	5,009	-	823,893
Provided during the period	195,654	68,806	5,744	2,987	273,191

As at 31 December 2025	546,653	536,691	10,753	2,987	1,097,084

Net Book Value
As at 31 December 2025	12,326,444	275,227	22,975	1,150,001	13,774,647

As at 1 January 2025	12,212,497	283,175	23,550	427,285	12,946,507

5. Investment Property

	2025
	£
Fair Value
As at 1 January 2025 and 31 December 2025	1,280,874

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	304,600	304,600

The 2025 valuations were made by the Directors, on an open market value for existing use basis.

6. Stocks

	2025	2024
	£	£
Stock	37,484	90,285
Biological assets	72,360	68,400

	109,844	158,685

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	50,076	44,646
Other debtors	573,562	573,525

	623,638	618,171

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Billingbear Farm Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	58,770	16,454
Other creditors	74,591	50,617
Taxation and social security	19,043	15,878

	152,404	82,949

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other creditors	76,460	83,477

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	17,990,000	16,490,000

During the year 1,500,000 Ordinary shares at a nominal value of £1 were allotted and issued.

11. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 January 2025	741,031	(2,291,475 )
Loss for the year and total comprehensive income	-	(404,545 )

Arising on shares issued during the period	-	-

As at 31 December 2025	741,031	(2,696,020 )

12. Related Party Transactions

During the year the company undertook a number of transactions with entities under the control of the

Directors and their close family members. At the year end the total amounts owing by these related

parties was £462,098 (2024: £380,988).

No interest was charged during the year and these balances are repayable on demand.

13. Ultimate Controlling Party

The directors have day-to-day control of the company.

The overall control is with the Trustees of Selva Trust via their share holding of the parent company,

Cosmeplast ETS.

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Billingbear Farm Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

14. Audit Information

The auditor's report on the accounts of Billingbear Farm Limited for the year ended 31 December 2025 was unqualified and signed on 24 July 2026.

The auditor's report was signed by Nicolas Michael FCA (Senior Statutory Auditor) for and on behalf of Charlton Baker (Bristol) Limited , Statutory Auditor.

Charlton Baker (Bristol) Limited

Chartered Accountants and Statutory Auditor

61 Macrae Road

Ham Green

Bristol

BS20 0DD

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		13,774,647		12,946,507
Investment Properties	5		1,280,874		1,280,874

			15,055,521		14,227,381
CURRENT ASSETS
Stocks	6	109,844		158,685
Debtors	7	623,638		618,171
Cash at bank and in hand		630,781		257,654

		1,364,263		1,034,510
Creditors: Amounts Falling Due Within One Year	8	(152,404 )		(82,949 )

NET CURRENT ASSETS (LIABILITIES)			1,211,859		951,561

TOTAL ASSETS LESS CURRENT LIABILITIES			16,267,380		15,178,942

Creditors: Amounts Falling Due After More Than One Year	9		(76,460 )		(83,477 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(155,909 )		(155,909 )

NET ASSETS			16,035,011		14,939,556

CAPITAL AND RESERVES
Called up share capital	10		17,990,000		16,490,000
Revaluation reserve	11		741,031		741,031
Profit and Loss Account			(2,696,020 )		(2,291,475 )

SHAREHOLDERS' FUNDS			16,035,011		14,939,556