Company No: 01518065 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	395		945
Tangible assets	4	151,113		151,231
Investment property	5	255,000		275,000
		406,508		427,176
Current assets
Stocks	6	270,699		255,488
Debtors	7	529,856		570,395
Cash at bank and in hand		148,834		278,798
		949,389		1,104,681
Creditors: amounts falling due within one year	8	( 372,772)		( 406,099)
Net current assets		576,617		698,582
Total assets less current liabilities		983,125		1,125,758
Creditors: amounts falling due after more than one year	9	( 9,358)		( 19,566)
Provision for liabilities	10	( 34,322)		( 36,172)
Net assets		939,445		1,070,020
Capital and reserves
Called-up share capital		2,000		2,000
Revaluation reserve		0		18,863
Profit and loss account		937,445		1,049,157
Total shareholders' funds		939,445		1,070,020

For the financial year ending 31 December 2025 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 Income Statement has not been delivered.

The financial statements of Tey Farm Systems Limited (registered number: 01518065) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R Fairs Director

25 September 2026

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

Tey Farm Systems 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 1 Claydon Business Park, Great Blakenham, Ipswich, IP6 0NL, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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 reporting 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

4 years straight line

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:

Leasehold improvements	10 years straight line
Plant and machinery	10 years straight line
Vehicles	25 % reducing balance
Office equipment	10 years straight line
Computer equipment	5 years straight line

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.

Leases

The Company as lessee
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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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 Statement of Financial Position 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.

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 reporting 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.

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. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	13		13

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 January 2025	2,200		2,200
At 31 December 2025	2,200		2,200
Accumulated amortisation
At 01 January 2025	1,255		1,255
Charge for the financial year	550		550
At 31 December 2025	1,805		1,805
Net book value
At 31 December 2025	395		395
At 31 December 2024	945		945

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2025	30,576		233,392		168,778		35,217		23,056		491,019
Additions	0		8,258		34,444		587		4,020		47,309
Disposals	0		( 352)		( 21,204)		( 294)		( 1,423)		( 23,273)
At 31 December 2025	30,576		241,298		182,018		35,510		25,653		515,055
Accumulated depreciation
At 01 January 2025	26,983		181,375		83,974		32,626		14,830		339,788
Charge for the financial year	415		11,227		27,800		366		3,770		43,578
Disposals	0		( 203)		( 18,033)		( 59)		( 1,129)		( 19,424)
At 31 December 2025	27,398		192,399		93,741		32,933		17,471		363,942
Net book value
At 31 December 2025	3,178		48,899		88,277		2,577		8,182		151,113
At 31 December 2024	3,593		52,017		84,804		2,591		8,226		151,231

5. Investment property

	Investment property
	£
Valuation
As at 01 January 2025	275,000
Additions	2,003
Fair value movement	(22,003)
As at 31 December 2025	255,000

Valuation

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

6. Stocks

	2025		2024
	£		£
Work in progress	91,778		23,544
Finished goods	178,921		231,944
	270,699		255,488

7. Debtors

	2025		2024
	£		£
Trade debtors	212,429		313,888
Amounts owed by directors	125,156		74,056
Prepayments and accrued income	18,312		30,263
Corporation tax	7,732		0
Other debtors	166,227		152,188
	529,856		570,395

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	113,457		205,408
Accruals and deferred income	156,362		96,009
Corporation tax	0		20,214
CIS withheld	2,253		4,516
Other taxation and social security	87,192		53,161
Obligations under finance leases and hire purchase contracts	10,208		23,491
Other creditors	3,300		3,300
	372,772		406,099

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

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	9,358		19,566

There are no amounts included above in respect of which any security has been given by the small entity.

10. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 36,172)		( 29,822)
Credited/(charged) to the Income Statement	1,850		( 6,350)
At the end of financial year	( 34,322)		( 36,172)

11. Financial commitments

Commitments

Capital commitments are as follows:

	2025		2024
	£		£
Contracted for but not provided for:
Finance leases entered into	47,577		71,631

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
Within one year	24,054		24,054
Between one and five years	23,522		47,577
	47,577		71,631

12. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Director's loan account	125,156		74,056