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Registration number: 05749548

R & A Slack (Cockley Bank) Limited
Unaudited Financial Statements
28 February 2026

R & A Slack (Cockley Bank) Limited

Contents

Accountants' Report | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 4

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
R & A Slack (Cockley Bank) Limited
for the Year Ended 28 February 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R & A Slack (Cockley Bank) Limited for the year ended 28 February 2026 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of R & A Slack (Cockley Bank) Limited, as a body, in accordance with the terms of our engagement letter dated 19 May 2023. Our work has been undertaken solely to prepare for your approval the accounts of R & A Slack (Cockley Bank) Limited and state those matters that we have agreed to state to the Board of Directors of R & A Slack (Cockley Bank) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R & A Slack (Cockley Bank) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R & A Slack (Cockley Bank) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R & A Slack (Cockley Bank) Limited. You consider that R & A Slack (Cockley Bank) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of R & A Slack (Cockley Bank) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

18 June 2026

R & A Slack (Cockley Bank) Limited

(Registration number: 05749548)
Balance Sheet as at 28 February 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 5 | 444,465 | 320,918
Other financial assets | 6 | 100 | 100
|  | 444,565 | 321,018
Current assets |  |  |
Stocks |  | 547,353 | 488,711
Debtors | 7 | 71,752 | 64,342
Cash at bank and in hand |  | 54,525 | 126,781
|  | 673,630 | 679,834
Creditors: Amounts falling due within one year | 8 | (886,321) | (907,406)
Net current liabilities |  | (212,691) | (227,572)
Total assets less current liabilities |  | 231,874 | 93,446
Provisions for liabilities |  | (86,662) | (45,880)
Net assets |  | 145,212 | 47,566
Capital and reserves |  |  |
Allotted, called up and fully paid share capital |  | 100 | 100
Profit and loss account |  | 145,112 | 47,466
Total equity |  | 145,212 | 47,566

R & A Slack (Cockley Bank) Limited

(Registration number: 05749548)
Balance Sheet as at 28 February 2026 (continued)

For the financial year ending 28 February 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 June 2026 and signed on its behalf by:

.........................................

G R Slack

Director

R & A Slack (Cockley Bank) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

1 | General information

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

The address of its registered office is:
Cockley Bank
Heads Nook
BRAMPTON
CA8 9EQ

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has net current liabilities at 28 February 2026 and meets its day to day working capital requirements through financial support provided by the directors by way of short term loans. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.
However, should the company not have the support of its directors, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.
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.

R & A Slack (Cockley Bank) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

Government grants

Government grants such as the basic payment scheme are included in the profit and loss account when all the necessary conditions for receipt have been met.
Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.
Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

Basic payment scheme

The amount paid in connection with the purchase of the basic payment scheme entitlement was amortised over the useful economic life of that entitlement, and has now been fully amortised.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land and buildings | 10% reducing balance basis
Plant and equipment | 15% reducing balance and 33% straight line basis
Motor vehicles | 25% reducing balance basis

Land and buildings includes tenants improvements on land leased by the company from the shareholders. As the long term intention is for the farming operation to continue, it is deemed a true and fair view to depreciate the assets at 10% reducing balance over their useful economic life, and not the duration of the lease.

R & A Slack (Cockley Bank) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Trading stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. The cost of livestock represents the purchase cost plus any additional costs of rearing the animal. Net realisable value is based on selling price less anticipated selling costs. Crop stock is valued at fair value less any anticipated costs to sell.

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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

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. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Preference shares are classified as debt when the shares are redeemable in the future at the option of the holder.

R & A Slack (Cockley Bank) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

Financial instruments

Classification
Equity shares and debt securities
Recognition and measurement
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Impairment
For instruments measured at cost less impairment the impairment is the difference between the assets' carrying amount and the best estimate the entity would receive for the asset if it were sold at the reporting date.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2025 - 2).

R & A Slack (Cockley Bank) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

4 | Intangible assets

| Basic payment scheme £ | Total £
Cost or valuation
At 1 March 2025 | 151,020 | 151,020
At 28 February 2026 | 151,020 | 151,020
Amortisation
At 1 March 2025 | 151,020 | 151,020
At 28 February 2026 | 151,020 | 151,020
Carrying amount
At 28 February 2026 | - | -
At 28 February 2025 | - | -

5 | Tangible assets

| Land and buildings £ | Plant and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 March 2025 | 282,683 | 1,476,163 | 18,758 | 1,777,604
Additions | - | 171,657 | - | 171,657
Disposals | - | (4,350) | - | (4,350)
At 28 February 2026 | 282,683 | 1,643,470 | 18,758 | 1,944,911
Depreciation
At 1 March 2025 | 207,994 | 1,230,858 | 17,834 | 1,456,686
Charge for the year | 7,471 | 38,195 | 231 | 45,897
Eliminated on disposal | - | (2,137) | - | (2,137)
At 28 February 2026 | 215,465 | 1,266,916 | 18,065 | 1,500,446
Carrying amount
At 28 February 2026 | 67,218 | 376,554 | 693 | 444,465
At 28 February 2025 | 74,689 | 245,305 | 924 | 320,918

R & A Slack (Cockley Bank) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

6 | Other financial assets (current and non-current)

| 2026 £ | 2025 £
Non-current financial assets
Financial assets at cost less impairment | 100 | 100

| Financial assets at cost less impairment £ | Total £
Non-current financial assets
Cost or valuation
At 1 March 2025 | 100 | 100
At 28 February 2026 | 100 | 100
Carrying amount
At 28 February 2026 | 100 | 100
At 28 February 2025 | 100 | 100

7 | Debtors

| 2026 £ | 2025 £
Other debtors | 71,752 | 64,342
| 71,752 | 64,342

R & A Slack (Cockley Bank) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

8 | Creditors

| Note | 2026 £ | 2025 £
Due within one year |  |  |
Loans and borrowings | 9 | 861,930 | 883,157
Trade creditors |  | 13,844 | 19,445
Taxation and social security |  | 315 | 289
Corporation tax liability |  | 5,691 | -
Other creditors |  | 4,541 | 4,515
|  | 886,321 | 907,406

9 | Loans and borrowings

| 2026 £ | 2025 £
Current loans and borrowings
Redeemable preference shares | 850,000 | 850,000
Other borrowings | 11,930 | 33,157
| 861,930 | 883,157

R & A Slack (Cockley Bank) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

10 | Related party transactions

Transactions with directors

2026 | At 1 March 2025 £ | Advances £ | Repayments £ | Other payments £ | Dividends credited £ | Interest £ | At 28 February 2026 £
A Slack
Directors loan | 21,968 | 21,659 | (39,320) | - | (500) | 181 | 3,988

2025 | At 1 March 2024 £ | Advances £ | Repayments £ | Other payments £ | Dividends credited £ | Interest £ | At 28 February 2025 £
A Slack
Directors loan | 22,065 | 28,454 | (28,001) | - | (1,000) | 450 | 21,968

Directors' advances are repayable on demand.
Interest has been charged at a rate of 2.25% to March 2025 and 3.75% thereafter on advances to directors.