Landroverroy - you're such a cynic
but I agree of course.
Yes, one and a quarter acres is way too small to make a worthwhile profit from smallholding activities. You can have self-supporting hens by selling their eggs - you'll get just enough to pay for their feed and have enough for you to eat too. The same for sheep and as you can only keep a small handful on such a small area, your crops will be small. You will surely want to keep some meat for yourselves - we find what we bring in for carcasses covers our costs and pays the slaughter charge for the few sheep we send off each year (we breed breeding stock so it's mostly males which are eaten), and we get the ones we put in our own freezer for free.
I don't know about pigs on a small scale, but I'm assuming it's the pig feed which is flooring you.
Selling veg at the gate will earn you pennies and take a lot of hard work to produce, as will jam, chutney etc. I have heard of people setting up small businesses based on home preserves, in which case you would need to plant all your land with orchards. Hens, pigs and sheep can graze and scuff about under trees once the trees are big enough, and if you choose the appropriate breeds of sheep and pig which won't destroy the trees. Pigs rooting about will help fertility, and eating fallen fruit will provide a tiny bite to livestock.
If you take a look at the farming statistics, large numbers of small family farms (depending on where you live, that would mean from about 100 acres to about 300 or more, even more in the LFAs) have been going out of business for many years, because they can't make a profit from that acreage, even with one or both adults working off farm.
I think what most of us end up doing is having full time jobs to bring in the wages, and enjoying our land and animals without expecting to make a profit.