REGISTERED NUMBER: 07405233 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

Leafield Environmental Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C T Edge

Ms J L D Crawford

J S Rhodes

P M Maddox

REGISTERED OFFICE:

Leafield Way

Leafield Industrial Estate

Corsham

Wiltshire

SN13 9UD

REGISTERED NUMBER:

07405233 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,461,938

2,171,367

Investments

5

5,125,471

5,125,471

7,587,409

7,296,838

CURRENT ASSETS

Stocks

6

582,602

431,141

Debtors

7

1,316,166

1,712,110

Cash at bank and in hand

1,685,426

963,768

3,584,194

3,107,019

CREDITORS

Amounts falling due within one year

8

1,735,836

1,602,510

NET CURRENT ASSETS

1,848,358

1,504,509

TOTAL ASSETS LESS CURRENT LIABILITIES

9,435,767

8,801,347

CREDITORS

Amounts falling due after more than one year

9

(880,000

)

(953,334

)

PROVISIONS FOR LIABILITIES

(156,400

)

(79,655

)

NET ASSETS

8,399,367

7,768,358

CAPITAL AND RESERVES

Called up share capital

1,365,001

1,365,001

Retained earnings

7,034,366

6,403,357

8,399,367

7,768,358

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 11 September 2026 and were signed on its behalf by:

P M Maddox - Director

1.	STATUTORY INFORMATION

Leafield Environmental 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about Leafield Environmental Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Leafield Environmental Holdings Limited, Leafield Way, Leafield Industrial Estate, Corsham, Wiltshire, SN13 9UD.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover comprises revenue arising from the sale of goods.

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

Revenue 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 revenue 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.

Turnover earned but not billed to customers is included in accrued income and amounts billed in advance of the revenue being recognised are included in deferred income.Sales of goods are recognised on transfer of title of the goods on dispatch.

Interest income

Interest income is recognised using the effective interest rate method.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

5% on a straight line basis

Plant and machinery

-

20% on straight line basis and 12.5% on a straight line basis

Motor vehicles

-

50% on straight line basis

Computer equipment

-

Straight line over 3 years

Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Depreciation is charged from when an asset is bought into use. Land is not depreciated. Repairs and maintenance costs are expensed as incurred.The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Subsequent additions and major components

Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and the cost can be measured reliably.

The carrying amount of any replaced component is derecognised. Major components are treated as a separate asset when they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Derecognition

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Investments in subsidiaries

Investments in subsidiaries are measured at cost less accumulated impairment.

Stocks

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 determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the stock to its present location and condition. Work in progress and finished goods include labour and attributable overheads.

At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

Financial instruments

The Company is applying section 11 and 12 of FRS 102 in respect of recognition and measurement of financial statements.

Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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

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.

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 country where the company operates and generates income.

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.

Research and development

Expenditure on research and development is written off against profits in the year in which it is incurred.

Foreign currencies

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At the period end, foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Income Statement.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income Statement.

Employee benefits

The company provides a range of benefits to employees, including paid holiday arrangements and a defined contribution pension plan.

Short-term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due.

Amounts not paid are shown in other creditors in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Leasing commitments

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Lease incentives

Incentives received to enter into an operating lease are credited to the profit and loss account, to reduce the lease expense, on a straight-line basis over the period of the lease.

Cash at bank and in hand

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Dividends

Dividends and other distributions to the company’s shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2024 - 46 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

2,080,920

2,877,569

45,750

119,748

5,123,987

Additions

-

484,304

-

-

484,304

Disposals

-

-

-

(5,990

)

(5,990

)

Reclassification/transfer

-

51,448

-

-

51,448

At 31 December 2025

2,080,920

3,413,321

45,750

113,758

5,653,749

DEPRECIATION

At 1 January 2025

255,120

2,575,175

45,750

76,575

2,952,620

Charge for year

13,401

164,148

-

16,184

193,733

Eliminated on disposal

-

-

-

(5,990

)

(5,990

)

Reclassification/transfer

-

51,448

-

-

51,448

At 31 December 2025

268,521

2,790,771

45,750

86,769

3,191,811

NET BOOK VALUE

At 31 December 2025

1,812,399

622,550

-

26,989

2,461,938

At 31 December 2024

1,825,800

302,394

-

43,173

2,171,367

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2025

and 31 December 2025

5,125,471

NET BOOK VALUE

At 31 December 2025

5,125,471

At 31 December 2024

5,125,471

6.

STOCKS

2025

2024

£

£

Raw materials

446,407

361,952

Finished goods

136,195

69,189

582,602

431,141

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,156,105

1,322,543

Amounts owed by group undertakings

-

25,805

Other debtors

260

245,150

Prepayments and accrued income

159,801

118,612

1,316,166

1,712,110

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

73,333

73,333

Trade creditors

544,966

621,249

Amounts owed to group undertakings

444,081

-

Tax

162,314

311,548

Social security and other taxes

44,226

34,480

VAT

71,647

2,477

Other creditors

52,825

35,833

Accruals and deferred income

342,444

523,590

1,735,836

1,602,510

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

73,333

73,334

Bank loans - 2-5 years

806,667

880,000

880,000

953,334

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

43,897

32,421

Between one and five years

96,939

23,220

In more than five years

9,417

-

150,253

55,641

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

953,333

1,026,667

The bank loan bears interest at 2.50% plus base rate and is secured by a fixed and floating charge over the assets of the company.

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Iain Black (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

13.	RELATED PARTY DISCLOSURES

The Directors J L D Crawford and C T Edge are partners of Chamonix Private Equity LLP. During the year, Chamonix Private Equity LLP charged the company £200,000 (2024: £200,000) in respect of management charges and other expenses.

During the year, the Director P Maddox charged the company £16,668 (2024: £16,668) in respect of management charges.

14.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the financial year by its parent company Leafield Environmental Holdings Limited, a company which is incorporated in England and Wales.

Copies of the Leafield Environmental Holdings Limited consolidated financial statements can be obtained from the company secretary at Leafield Way, Leafield Industrial Estate, Corsham, Wiltshire, SN13 9UD.

As at the date of approval and as at 31 December 2025, in the opinion of the Directors there is no ultimate controlling party.