REGISTERED NUMBER: 02153385 (England and Wales)

Exmoor Farmers Livestock Auctions

Limited

Financial Statements

for the Year Ended 31st December 2025

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

848,817

861,548

CURRENT ASSETS

Debtors

5

462,466

408,430

Investments

6

250

250

Cash at bank and in hand

53,071

10,069

515,787

418,749

CREDITORS

Amounts falling due within one year

7

292,651

248,747

NET CURRENT ASSETS

223,136

170,002

TOTAL ASSETS LESS CURRENT LIABILITIES

1,071,953

1,031,550

PROVISIONS FOR LIABILITIES

21,153

19,669

NET ASSETS

1,050,800

1,011,881

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

1,048,800

1,009,881

SHAREHOLDERS' FUNDS

1,050,800

1,011,881

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th September 2026 and were signed on its behalf by:

A R May - Director

1.	STATUTORY INFORMATION

Exmoor Farmers Livestock Auctions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

02153385

Registered office:

22 The Parks

Minehead

Somerset

TA24 8BT

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

2% to 5% on cost

Market equipment

-

10% on cost

Office and kitchen equipment

-

10% on cost

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and depreciated over their useful lives. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Current asset investments are valued at the lower of cost and net realisable value.

Prior period error

The company identified an overstatement of market debtors of £11,885 during the year ended 31st December 2023 and a further £3,453 during the year ended 31st December 2024, a total overstatement of £15,338. The associated saving in corporation tax for each year was £3,149 and £915 respectively. It has not been possible to retrospectively capture all transactions undertaken within the market software that underlie the calculation of the market debtors at the year end and hence establish the reason for the error.

Consequently, net profit for the year ended 31st December 2023 was overstated by £8,736 and net profit for the year ended 31st December 2024 was overstated by £2,538. This error has been corrected by restating debtors for the prior periods with the overstatements for each year adjusted to livestock auction expenses. The prior period adjustment reduces opening retained earnings by £11,274 from £1,021,155 to £1,009,881.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Office

Improvements

and

to

Market

kitchen

Computer

property

equipment

equipment

equipment

Totals

£

£

£

£

£

COST

At 1st January 2025

1,097,061

123,795

39,781

33,198

1,293,835

Additions

-

13,220

-

8,307

21,527

At 31st December 2025

1,097,061

137,015

39,781

41,505

1,315,362

DEPRECIATION

At 1st January 2025

293,726

74,247

33,839

30,475

432,287

Charge for year

22,289

8,366

919

2,684

34,258

At 31st December 2025

316,015

82,613

34,758

33,159

466,545

NET BOOK VALUE

At 31st December 2025

781,046

54,402

5,023

8,346

848,817

At 31st December 2024

803,335

49,548

5,942

2,723

861,548

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

450,883

400,372

Other debtors

11,583

8,058

462,466

408,430

6.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Unlisted investments

250

250

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,476

6,020

Amounts owed to group undertakings

171,272

135,365

Other creditors

119,903

107,362

292,651

248,747

8.	FINANCIAL COMMITMENTS

The total commitment not included in the balance sheet was £128,940 and related to the following leases: rent £84,000 and copier £44,940.

9.	ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Exmoor Livestock Auctions Ltd, a company registered in England and Wales. The address is 22 the Parks, Minehead, Somerset, TA24 8BT.

10.	CLIENT MONEY

As part of the company's trading activities money is held in appropriately designated bank accounts on behalf of clients.

The amount contained within such accounts at the year end was £105,651.