Registrar

Registration number: 03598342

Lear Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Lear Limited

Company Information

Directors

P A Kelly

Company secretary

P A Kelly

Registered office

Springate Farm Bicknacre Road Danbury Essex CM3 4EP

Bankers

Barclays Bank plc High Street Chelmsford Essex CM1 1BG

Accountants

Lambert Chapman LLP Chartered Accountants 3 Warners Mill Silks Way Braintree Essex CM7 3GB

Lear Limited

(Registration number: 03598342)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,658,045	1,631,633
Investments	5	5,470	5,470
		1,663,515	1,637,103
Current assets
Stocks	6	14,270	10,750
Debtors	7	2,559	2,019
Cash at bank and in hand		94,150	131,388
		110,979	144,157
Creditors: Amounts falling due within one year	8	(985,703)	(894,766)
Net current liabilities		(874,724)	(750,609)
Total assets less current liabilities		788,791	886,494
Creditors: Amounts falling due after more than one year	8	(713,226)	(751,855)
Provisions for liabilities		(3,614)	(360)
Net assets		71,951	134,279
Capital and reserves
Called up share capital	9	2	2
Retained earnings		71,949	134,277
Shareholders' funds		71,951	134,279

Lear Limited

(Registration number: 03598342)
Balance Sheet as at 31 October 2025

For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 September 2026
 

P A Kelly
Company secretary and director

Lear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: Springate Farm, Bicknacre Road, Danbury, Essex, CM3 4EP.

The principal place of business is: Badgers Mead Farm, Five Ashes, Mayfield, Sussex, TN20 6JH.

These financial statements were authorised for issue by the director on 29 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Departures from Companies Act requirements

The director has chosen to depart from the Companies Act 2006 in respect of depreciation not being provided for on freehold property owned and operated by the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of turkeys in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

Current 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.

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 countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Lear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	0% & 5% Straight line method
Plant and machinery	25% Reducing balance method
Motor vehicles	33% Straight line method

No depreciation is provided in respect of Land and buildings and is revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the Company's freehold property may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, the Directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for turkey rearing or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

Lear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2024 - 4).

4	Tangible assets

	Land and buildings £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 November 2024	1,632,773	-	2,950	1,635,723
Additions	3,916	35,866	-	39,782
At 31 October 2025	1,636,689	35,866	2,950	1,675,505
Depreciation
At 1 November 2024	2,578	-	1,512	4,090
Charge for the year	4,134	8,877	359	13,370
At 31 October 2025	6,712	8,877	1,871	17,460
Carrying amount
At 31 October 2025	1,629,977	26,989	1,079	1,658,045
At 31 October 2024	1,630,195	-	1,438	1,631,633

Included within the net book value of land and buildings above is £1,553,697 (2024 - £1,553,697) in respect of freehold land and buildings.
 

5	Investments

	2025 £	2024 £
Investments in associates	5,470	5,470