Company No: 06431708 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	3,985,603		4,013,724
Investments	4	100		100
		3,985,703		4,013,824
Current assets
Stocks	5	15,783		4,508
Debtors	6	41,010		70,953
		56,793		75,461
Creditors: amounts falling due within one year	7	( 605,926)		( 759,523)
Net current liabilities		(549,133)		(684,062)
Total assets less current liabilities		3,436,570		3,329,762
Creditors: amounts falling due after more than one year	8	( 600,728)		( 704,915)
Provision for liabilities	9	( 146,495)		( 136,164)
Net assets		2,689,347		2,488,683
Capital and reserves
Called-up share capital	10	240		240
Share premium account		374,082		374,082
Profit and loss account		2,315,025		2,114,361
Total shareholders' funds		2,689,347		2,488,683

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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge 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 James D Baird (Home Farm) Limited (registered number: 06431708) were approved and authorised for issue by the Board of Directors on 04 August 2026. They were signed on its behalf by:

J D Baird 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

James D Baird (Home Farm) 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 C/O Pkf Francis Clark (Cosec), Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Ryebank Farmhouse, Climping, Littlehampton, West Sussex, BN17 5RF, .

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year.

Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

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 Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, 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:

Land and buildings	not depreciated
	15 % reducing balance
Plant and machinery	15 % reducing balance

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Interests in subsidiaries are measured at cost. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Tangible assets

	Land and buildings		Plant and machinery		Total
	£		£		£
Cost
At 01 April 2025	4,867,594		897,093		5,764,687
Additions	43,200		82,591		125,791
Disposals	0		( 5,350)		( 5,350)
At 31 March 2026	4,910,794		974,334		5,885,128
Accumulated depreciation
At 01 April 2025	1,241,400		509,563		1,750,963
Charge for the financial year	87,348		61,214		148,562
At 31 March 2026	1,328,748		570,777		1,899,525
Net book value
At 31 March 2026	3,582,046		403,557		3,985,603
At 31 March 2025	3,626,194		387,530		4,013,724

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2025	100		100
At 31 March 2026	100		100
Carrying value at 31 March 2026	100		100
Carrying value at 31 March 2025	100		100

5. Stocks

	2026		2025
	£		£
Stocks	15,783		4,508

6. Debtors

	2026		2025
	£		£
Trade debtors	7,512		47,054
Other debtors	33,498		23,899
	41,010		70,953

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans and overdrafts	193,645		325,852
Trade creditors	34,240		54,670
Amounts owed to related parties	140,498		143,680
Taxation and social security	174,362		160,038
Obligations under finance leases and hire purchase contracts	5,000		21,633
Other creditors	58,181		53,650
	605,926		759,523

Included within Bank loans and overdrafts is a bank overdraft of £113,672 (2025: £243,515) and bank loans of £79,973 (2025 £82,337). The loans are secured on the assets of the company with a combination of fixed and floating charges.

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	598,228		697,415
Obligations under finance leases and hire purchase contracts	2,500		7,500
	600,728		704,915

The aggregate total of the hire purchases in the company is £7,500 (2025: £29,133). Security has been given on the aggregate value of finance leases held by the company.

The aggregate amount of Bank loans and overdrafts are secured by a legal charge over the assets of the company. The total of these at the balance sheet date is £791,873 (2025: £1,023,267).

9. Provision for liabilities

	2026		2025
	£		£
Deferred tax	146,495		136,164

10. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
24,000 Ordinary shares of £ 0.01 each	240		240

11. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2026		2025
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	660		801

12. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2026		2025
	£		£
Amounts owed to Baird Farming Partnership	140,498		143,680

The company received a profit share for the year from The Baird Farming Partnership, of which the company is a partner, of £328,800 (2025: £270,254). At the year end there was a balance due to The Baird Farming Partnership of £140,498 (2025: £143,680) which is shown in creditors under one year.

Transactions with the entity's directors

	2026		2025
	£		£
At start of year	12,658		10,358
Advanced	0		2,300
Repaid	12,658		0
At end of year	0		12,658

During the year Mr J D Baird and Mrs K Baird received dividends of £185,157 (2025: £357,866) and £61,719 (2025: £119,289) respectively, both of whom are company directors and shareholders.
At the year end nil (2025: £12,658) was due from Mr J D Baird and this was shown under other debtors. Interest has been accrued at the standard rate.