Smithills Open Farm Ltd 31/01/2026 iXBRL

Company registration number: 09868392

Smithills Open Farm Ltd

Trading as Smithills Open Farm Ltd

Unaudited filleted financial statements

31 January 2026

Smithills Open Farm Ltd

Contents

Statement of financial position

Notes to the financial statements

Smithills Open Farm Ltd

Statement of financial position

31 January 2026

		2026		2025
	Note	£	£	£	£

Fixed assets
Intangible assets	5	41,600		42,224
Tangible assets		3,807,307		3,178,039
		_______		_______
			3,848,907		3,220,263

Current assets
Stocks		595,109		659,470
Debtors	7	971,166		354,805
Cash at bank and in hand		82,154		45,051
		_______		_______
		1,648,429		1,059,326
Creditors: amounts falling due
within one year	8	( 1,229,043)		( 1,540,508)
		_______		_______
Net current assets/(liabilities)			419,386		( 481,182)
			_______		_______
Total assets less current liabilities			4,268,293		2,739,081

Creditors: amounts falling due
after more than one year	9		( 1,770,161)		( 458,305)

Provisions for liabilities			( 387,563)		( 418,771)

			_______		_______
Net assets			2,110,569		1,862,005
			_______		_______

Capital and reserves
Called up share capital			101		101
Profit and loss account			2,110,468		1,861,904
			_______		_______
Shareholders funds			2,110,569		1,862,005
			_______		_______

For the year ending 31 January 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 year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 31 October 2026 , and are signed on behalf of the board by:

Mr Anthony Grimshaw

Director

Company registration number: 09868392

Smithills Open Farm Ltd

Notes to the financial statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Smithills Dean Road, Bolton, Lancashire, BL1 7NS.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Milk Quota	-	10 %	straight line
Entitlements	-	10 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	4 %	reducing balance
Long leasehold property	-	15 %	reducing balance
Plant and machinery	-	25 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	25 %	reducing balance
Open Farm Equipment	-	15 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 136 (2025: 136 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 February 2025 and 31 January 2026	47,855	47,855
	_______	_______
Amortisation
At 1 February 2025	5,629	5,629
Charge for the year	626	626
	_______	_______
At 31 January 2026	6,255	6,255
	_______	_______
Carrying amount
At 31 January 2026	41,600	41,600
	_______	_______
At 31 January 2025	42,226	42,226
	_______	_______

6. Tangible assets

	Freehold property	Long leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Open Farm equipment	Total
	£	£	£	£	£	£	£
Cost
At 1 February 2025	2,251,804	289,912	1,370,596	37,018	329,782	413,876	4,692,988
Additions	-	-	826,390	809	35,553	6,838	869,590
	_______	_______	_______	_______	_______	_______	_______
At 31 January 2026	2,251,804	289,912	2,196,986	37,827	365,335	420,714	5,562,578
	_______	_______	_______	_______	_______	_______	_______
Depreciation
At 1 February 2025	253,827	160,547	740,249	16,690	131,281	212,355	1,514,949
Charge for the year	54,292	19,405	101,691	3,153	31,556	30,225	240,322
	_______	_______	_______	_______	_______	_______	_______
At 31 January 2026	308,119	179,952	841,940	19,843	162,837	242,580	1,755,271
	_______	_______	_______	_______	_______	_______	_______
Carrying amount
At 31 January 2026	1,943,685	109,960	1,355,046	17,984	202,498	178,134	3,807,307
	_______	_______	_______	_______	_______	_______	_______
At 31 January 2025	1,997,977	129,365	630,347	20,328	198,501	201,521	3,178,039
	_______	_______	_______	_______	_______	_______	_______

7. Debtors

	2026	2025
	£	£
Trade debtors	327,968	306,387
Other debtors	643,198	48,418
	_______	_______
	971,166	354,805
	_______	_______

8. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	241,364	41,233
Trade creditors	770,552	680,757
Corporation tax	-	34,789
Social security and other taxes	35,893	77,800
Other creditors	181,234	705,929
	_______	_______
	1,229,043	1,540,508
	_______	_______

The loans are secured by means of a fixed and floating charge over all the property and assets of the company.

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

	2026	2025
	£	£
Bank loans and overdrafts	1,492,818	-
Other creditors	277,343	458,305
	_______	_______
	1,770,161	458,305
	_______	_______

The loans are secured by means of a fixed and floating charge over all the property and assets of the company.

10. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2026
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Anthony Grimshaw	( 418,956)	1,794,553	( 887,931)	487,666
		_______	_______	_______	_______

2025
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Anthony Grimshaw	( 470,813)	253,670	( 201,813)	( 418,956)
		_______	_______	_______	_______

Interest has been charged at 3.75% on the overdrawn balance.