MILBURN FARMS LIMITED


Directors	ATKINSON, Richard
	ATKINSON, Roger Milburn
	MURPHY, Mary Annabel


Registered Address	The Field House
	Milburn
	Penrith
	CA10 1TP


Registered Number	12888550 (England and Wales)

Statement of Financial Position
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		468,014		391,200
			468,014		391,200
Current assets
Stocks	4	491,501		509,107
Debtors	5	73,862		100,150
Current asset investments	6	8,544		8,544
Cash at bank and on hand		610,116		728,036
		1,184,023		1,345,837
Creditors amounts falling due within one year	7	(178,160)		(200,593)
Net current assets (liabilities)			1,005,863		1,145,244
Total assets less current liabilities			1,473,877		1,536,444
Provisions for liabilities	8		(116,500)		(98,000)
Net assets			1,357,377		1,438,444
Capital and reserves
Called up share capital			100		100
Profit and loss account			1,357,277		1,438,344
Shareholders' funds			1,357,377		1,438,444

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 2 November 2026, and are signed on its behalf by:

ATKINSON, Roger Milburn
Director
Registered Company No. 12888550

MILBURN FARMS LIMITED

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	7		7

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 25	915,125	41,660	2,472	959,257
Additions	204,500	-	682	205,182
Disposals	(154,718)	-	-	(154,718)
At 31 March 26	964,907	41,660	3,154	1,009,721
Depreciation and impairment
At 01 April 25	541,268	25,497	1,292	568,057
Charge for year	53,697	3,232	185	57,114
On disposals	(83,464)	-	-	(83,464)
At 31 March 26	511,501	28,729	1,477	541,707
Net book value
At 31 March 26	453,406	12,931	1,677	468,014
At 31 March 25	373,857	16,163	1,180	391,200

4.	Stocks

	2026	2025
	£	£
Raw materials and consumables	491,501	509,107
Total	491,501	509,107

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	38,365	53,527
Other debtors	18,807	30,331
Prepayments and accrued income	16,690	16,292
Total	73,862	100,150

6.	Current asset investments

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	52,079	53,403
Taxation and social security	74,257	92,425
Other creditors	41,633	36,300
Accrued liabilities and deferred income	10,191	18,465
Total	178,160	200,593

8.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	116,500	98,000
Total	116,500	98,000

9.	Directors advances, credits and guarantees
	On 01/04/25 a Director was owed £266.59 by the Company. During the period this director was advanced a further £367,926.44 and repaid £359,337.60. As at 31/03/26 this Director owed the Company £8,322.25. No interest was charged on this loan. The loan is unsecured and repayable upon demand.