Company No: 11279012 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	80,036		96,082
		80,036		96,082
Current assets
Stocks	4	9,200		8,700
Debtors	5	1,914		2,819
Cash at bank and in hand		700		683
		11,814		12,202
Creditors: amounts falling due within one year	6	( 57,851)		( 93,052)
Net current liabilities		(46,037)		(80,850)
Total assets less current liabilities		33,999		15,232
Creditors: amounts falling due after more than one year	7	( 8,434)		( 10,988)
Provision for liabilities		( 4,630)		( 409)
Net assets		20,935		3,835
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		20,835		3,735
Total shareholders' funds		20,935		3,835

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Palette and Pasture Ltd (registered number: 11279012) were approved and authorised for issue by the Board of Directors on 01 October 2026. They were signed on its behalf by:

Mr P W Candy 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

Palette and Pasture 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 Pyle Farm Marl Pits Lane, Trudoxhill, Frome, BA11 5DL, 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of
services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates
and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

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 tax rates and laws substantively enacted at the
balance sheet date. Deferred tax assets and liabilities are not discounted.

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 over its expected useful life as follows:

Land and buildings	not depreciated
Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	25 % reducing balance

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

Financial instruments

Classification
The company holds the following financial instruments:
• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the
instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or
substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when
the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried
at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of
impairment adjustments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the
company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient
assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		8

3. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2025	31,973		74,009		37,624		5,446		149,052
At 31 March 2026	31,973		74,009		37,624		5,446		149,052
Accumulated depreciation
At 01 April 2025	0		22,824		27,142		3,004		52,970
Charge for the financial year	0		12,805		2,629		612		16,046
At 31 March 2026	0		35,629		29,771		3,616		69,016
Net book value
At 31 March 2026	31,973		38,380		7,853		1,830		80,036
At 31 March 2025	31,973		51,185		10,482		2,442		96,082

4. Stocks

	2026		2025
	£		£
Stocks	9,200		8,700

5. Debtors

	2026		2025
	£		£
Trade debtors	858		1,355
Amounts owed by directors	284		0
Prepayments	672		225
VAT recoverable	0		1,138
Other debtors	100		101
	1,914		2,819

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	2,554		2,471
Trade creditors	6,864		18,435
Other loans	39,801		54,596
Accruals and deferred income	4,480		5,592
Other taxation and social security	2,152		458
Other creditors	2,000		11,500
	57,851		93,052

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

	2026		2025
	£		£
Bank loans	8,434		10,988

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

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
50 Ordinary A shares shares of £ 1.00 each	50		50
25 Ordinary B shares shares of £ 1.00 each	25		25
20 Ordinary C Shares shares of £ 1.00 each	20		20
5 Ordinary D Shares shares of £ 1.00 each	5		5
	100		100