Company No: 04511264 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	38,459		65,305
Investments	5	0		861,186
		38,459		926,491
Current assets
Stocks		2,000		9,000
Debtors	6	987,271		14
Cash at bank and in hand		19,294		27,476
		1,008,565		36,490
Creditors: amounts falling due within one year	7	( 95,635)		( 85,537)
Net current assets/(liabilities)		912,930		(49,047)
Total assets less current liabilities		951,389		877,444
Provision for liabilities		( 5,260)		0
Net assets		946,129		877,444
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		946,029		877,344
Total shareholders' funds		946,129		877,444

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 Profit and Loss Account has not been delivered.

The financial statements of Town Barton Ltd (registered number: 04511264) were approved and authorised for issue by the Board of Directors on 04 September 2026. They were signed on its behalf by:

D G Munday Director		D J Munday Director
J C Munday 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

Town Barton Ltd (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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

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 £.

Prior year adjustment

Prior period errors are accounted for retrospectively by restating the comparative accounts for the prior period, as set out in Note 2.

Turnover

Turnover is stated net of VAT and trade discounts and represents amounts receivable from the sale of bottled milk and other products. Revenue is recognised at the point of sale when the goods are physically delivered or dispensed to the customer.

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. Tax is recognised in the profit and loss account, 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.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Other operating income

Other operating income relates to the profit share receivable in Messrs Munday & Munday partnership. This income is recognised on an accruals basis.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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
Plant and machinery etc.	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.

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.

Fixed asset investments

Fixed asset investments are recognised initially at cost, including transaction costs, and are subsequently stated at cost less any provision for impairment.

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 the purchase cost of materials, and is calculated using the FIFO (first-in, first-out) method.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Prior year adjustment

During the year, the directors identified that the Company's 1% share of land capital in Messrs Munday & Munday partnership was not recognised in the financial statements, the amount being £10,776 has been recognised as shown in the table below.

It was also identified that the issued and fully paid share capital disclosed in the financial statements for the year ended 31 March 2025 was incorrectly stated as £2. Following a review of the Company's statutory records, it was determined that the correct amount of issued share capital at that date was £100.

The comparative figures have therefore been restated.

		As previously reported		Adjustment		As restated
Year ended 31 March 2025		£		£		£
Tangible fixed assets		54,529		10,776		65,305
Called up share capital		2		98		100
Creditors: amounts falling due within one year		74,859		10,678		85,537

3. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2025	10,776		107,487		118,263
Disposals	0		( 41,091)		( 41,091)
At 31 March 2026	10,776		66,396		77,172
Accumulated depreciation
At 01 April 2025	0		52,958		52,958
Charge for the financial year	0		6,914		6,914
Disposals	0		( 21,159)		( 21,159)
At 31 March 2026	0		38,713		38,713
Net book value
At 31 March 2026	10,776		27,683		38,459
At 31 March 2025	10,776		54,529		65,305

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2025	861,186		861,186
Additions	115,283		115,283
Disposals	( 976,469)		( 976,469)
At 31 March 2026	0		0
Carrying value at 31 March 2026	0		0
Carrying value at 31 March 2025	861,186		861,186

During the year the company retired as a corporate partner in Messrs Munday & Munday. Accordingly, no partnership investment was held at the balance sheet date.

6. Debtors

	2026		2025
	£		£
Trade debtors	2,761		14
Amounts owed by related parties	984,510		0
	987,271		14

Included within other debtors is £984,150 (2025: £nil) due from Messrs Munday & Munday, a related party. The balance is unsecured, interest free and repayable on demand.

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	851		90
Taxation and social security	31,606		21,849
Other creditors	63,178		63,598
	95,635		85,537

Included within other creditors are amounts owed to the directors, accruals, and other immaterial creditors.

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 £1 Ordinary shares of £ 1.00 each	100		100

9. Related party transactions

Other related party transactions

	2026		2025
	£		£
Proceeds from sale of investment in Messrs Munday & Munday	976,469		0

Included within Debtors is an amount of £976,469 (2025: £nil) owed to The Sandford Gate Milk Company Ltd from Messrs Munday & Munday, following the Company's retirement as a corporate partner on 31/03/2026.