REGISTERED NUMBER: 01718710 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

M. FARNSWORTH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R G A Barber

SECRETARY:

R A Barber

REGISTERED OFFICE:

Gibcracks Farm

Moor Hall Lane

Danbury

Essex

CM3 4ER

REGISTERED NUMBER:

01718710 (England and Wales)

ACCOUNTANTS:

THP Limited

Chartered Accountants

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Intangible assets

4

48,583

54,083

Tangible assets

5

9,461,081

9,259,408

Freehold Investment property

6

500,000

500,000

10,009,664

9,813,491

CURRENT ASSETS

Stocks

21,400

55,140

Debtors

7

352,417

87,845

Cash at bank

85,693

-

459,510

142,985

CREDITORS

Amounts falling due within one year

8

8,004,566

6,716,162

NET CURRENT LIABILITIES

(7,545,056

)

(6,573,177

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,464,608

3,240,314

CREDITORS

Amounts falling due after more than one year

9

-

(1,436,393

)

PROVISIONS FOR LIABILITIES

11

(92,499

)

(30,031

)

NET ASSETS

2,372,109

1,773,890

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Fair value reserve

12

216,300

216,300

Retained earnings

12

2,125,809

1,527,590

2,372,109

1,773,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2026 and were signed by:

R G A Barber - Director

1.	STATUTORY INFORMATION

M. Farnsworth 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 as modified by the revaluation of certain assets.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and value added taxes.

Farming income is recognised when goods are delivered to, or collected by, the customer, such that the risks

and rewards of ownership have passed to them.

Sales of meat are recognised on sale to the customer, which is considered to be the point of delivery and

when the significant risks and rewards of the goods have been passed to the customer.

Rental income is recognised on a receivable basis.

Operational grant income is credited to the profit and loss account on a receivable basis.

Goodwill

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Goodwill related to the acquisition of a butchery business in 2025 and is being amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets

Freehold property

2% on cost

Plant and machinery

12.5% on cost

Motor vehicles

20% on cost

Land and mixed use property

not depreciated

Investment property

Freehold Investment Property is shown at fair value. Any aggregate surplus or deficit that arises from a change in fair value is recognised in the income statement, net of deferred tax. On an annual basis this surplus or deficit is transferred from retained profits into a separate, non-distributable reserve called the "Fair Value Reserve".

Stocks

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell, after making

due allowance for obsolete and slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised.

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2025 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2025

and 31 January 2026

55,000

AMORTISATION

At 1 February 2025

917

Charge for year

5,500

At 31 January 2026

6,417

NET BOOK VALUE

At 31 January 2026

48,583

At 31 January 2025

54,083

5.	TANGIBLE FIXED ASSETS

Freehold

land and

Plant and

Motor

buildings

machinery

vehicles

Totals

£

£

£

£

COST

At 1 February 2025

9,261,058

258,264

42,053

9,561,375

Additions

168,590

76,365

-

244,955

At 31 January 2026

9,429,648

334,629

42,053

9,806,330

DEPRECIATION

At 1 February 2025

127,934

145,764

28,269

301,967

Charge for year

14,862

21,621

6,799

43,282

At 31 January 2026

142,796

167,385

35,068

345,249

NET BOOK VALUE

At 31 January 2026

9,286,852

167,244

6,985

9,461,081

At 31 January 2025

9,133,124

112,500

13,784

9,259,408

Included in cost of land and buildings is freehold land of £ 2,315,920 (2025 - £ 2,315,920 ) which is not depreciated.

In addition to the freehold land and buildings, are mixed-use properties with a cost of £6,402,518 (2025 - £6,402,518). The cost of the buildings have not been separately identified and have, therefore, been treated as non-depreciable.

6.	FREEHOLD INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

and 31 January 2026

500,000

NET BOOK VALUE

At 31 January 2026

500,000

At 31 January 2025

500,000

Fair value at 31 January 2026 is represented by:

£

Valuation in 2015

274,199

Cost

225,801

500,000

The director has assessed the fair value of the freehold investment property and considers that there has been no material change as at 31 January 2026.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

74,232

22,186

Amounts owed by related parties

230,556

34,229

Other debtors

47,629

31,430

352,417

87,845

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

-

55,621

Trade creditors

209,783

83,080

Amounts owed to related parties

7,626,857

6,555,464

Taxation and social security

157,348

968

Other creditors

10,578

21,029

8,004,566

6,716,162

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

1,436,393

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank overdraft

-

24,621

Bank loans

-

1,467,393

-

1,492,014

The bank loans and overdraft were paid in full during the year.

11.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Accelerated capital allowances

92,499

76,393

Tax losses carried forward

-

(46,362

)

92,499

30,031

Deferred

tax

£

Balance at 1 February 2025

30,031

Provided during year

62,468

Balance at 31 January 2026

92,499

12.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 February 2025

1,527,590

216,300

1,743,890

Profit for the year

598,219

598,219

At 31 January 2026

2,125,809

216,300

2,342,109

13.	RELATED PARTY DISCLOSURES

During the year, a company with a common director loaned the company £7,600,000 (2025 - £nil). The loan was interest free and payable on demand.

At the year end, £20,000 (2025 - £41,038) was owed by the company to a company with a common director. This loan is interest free and repayable on demand.

At the year end, the company owed £6,857 (2025 - owed from £34,229) a partnership which is jointly controlled by the secretary of the company.

During the year, a company with a common director owed the company £230,556 (2025 - owed to £6,514,426). The balance was interest free and payable on demand. The sales during the year totalled £3,115,418 (2025 - £229,174). The purchases during the year totalled £1,614,514 (2025 - £219,088).

14.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Gibcracks Farms Limited, whose registered office is the same as the company's registered office.