Windwhistle Farms Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02842693 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Windwhistle Farms Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A D Cook

Mrs S A Cook

SECRETARY:

Mrs S A Cook

REGISTERED OFFICE:

Foxlea

Bryces Lane

Sherfield English

Romsey

Hampshire

SO51 6FX

REGISTERED NUMBER:

02842693 (England and Wales)

ACCOUNTANTS:

Butler & Co

Chartered Accountants

Bennett House

The Dean

Alresford

Hampshire

SO24 9BH

FIXED ASSETS

Tangible assets

4

1,057,147

1,215,138

Investments

5

25

25

1,057,172

1,215,163

CURRENT ASSETS

Stocks

248,863

181,176

Debtors

6

297,919

424,532

Cash at bank

105,174

55,003

651,956

660,711

CREDITORS

Amounts falling due within one year

7

442,569

463,035

NET CURRENT ASSETS

209,387

197,676

TOTAL ASSETS LESS CURRENT LIABILITIES

1,266,559

1,412,839

CREDITORS

Amounts falling due after more than one year

8

(116,861

)

(274,179

)

PROVISIONS FOR LIABILITIES

9

(147,015

)

(157,223

)

NET ASSETS

1,002,683

981,437

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

1,001,683

980,437

SHAREHOLDERS' FUNDS

1,002,683

981,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 August 2019 and were signed on its behalf by:

Mr A D Cook - Director

1.	STATUTORY INFORMATION

Windwhistle Farms 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.

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.

Turnover

Turnover represents Basic Payment Scheme and net invoiced sales of goods and services excluding value added

tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% reducing balance basis and 15% on cost

Fixtures and fittings

-

15% reducing balance basis and 10% reducing balance basis

Motor vehicles

-

15% on cost

Computer equipment

-

15% reducing balance basis

Stocks

Stock is valued at the lower of cost and net realisable value and in accordance with HS232.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Capital grants

Capital grants are treated in accordance with the relevant accounting standards.

-The fixed asset is initially recorded at its full cost, ignoring the receipt of the grant, and depreciated over its

useful economic life.

-The grant is recorded as deferred income and taken to income over the same period and on the same basis as the

cost of the asset is depreciated.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2018

111,610

1,776,814

58,505

Additions

-

149,410

-

Disposals

-

(161,809

)

-

At 31 December 2018

111,610

1,764,415

58,505

DEPRECIATION

At 1 January 2018

-

696,020

38,418

Charge for year

-

226,811

3,011

Eliminated on disposal

-

(84,639

)

-

At 31 December 2018

-

838,192

41,429

NET BOOK VALUE

At 31 December 2018

111,610

926,223

17,076

At 31 December 2017

111,610

1,080,794

20,087

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2018

500

5,289

1,952,718

Additions

-

-

149,410

Disposals

-

-

(161,809

)

At 31 December 2018

500

5,289

1,940,319

DEPRECIATION

At 1 January 2018

75

3,067

737,580

Charge for year

75

334

230,231

Eliminated on disposal

-

-

(84,639

)

At 31 December 2018

150

3,401

883,172

NET BOOK VALUE

At 31 December 2018

350

1,888

1,057,147

At 31 December 2017

425

2,222

1,215,138

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2018

and 31 December 2018

1,073,501

DEPRECIATION

At 1 January 2018

305,030

Charge for year

117,075

At 31 December 2018

422,105

NET BOOK VALUE

At 31 December 2018

651,396

At 31 December 2017

768,471

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2018

and 31 December 2018

25

NET BOOK VALUE

At 31 December 2018

25

At 31 December 2017

25

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

93,520

43,389

Other debtors

-

20,000

VAT

-

9,285

Prepayments

34,626

48,081

Accrued income

169,773

303,777

297,919

424,532

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

210,458

240,636

Trade creditors

19,294

33,917

Tax

7,599

-

Social security and other taxes

200

197

VAT

16,958

-

A & S Cook

244

2,526

Directors' current accounts

23,223

463

Capital grant

2,382

2,382

Accrued expenses

162,211

182,914

442,569

463,035

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

102,567

257,502

Capital grant

14,294

16,677

116,861

274,179

9.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

147,015

157,223

Deferred

tax

£

Balance at 1 January 2018

157,223

Accelerated capital allowances

(10,208

)

Balance at 31 December 2018

147,015

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

500

Ordinary A

£1

500

500

500

Ordinary B

£1

500

500

1,000

1,000

11.	RELATED PARTY DISCLOSURES

Bryces Farm Limited

A company in which Mrs S Cook is secretary

During the period under review Mrs S Cook was company secretary of Bryces Farm Ltd, a company in which

Mrs S Cook's father was also a director during the period.

During the period under review Windwhistle Farms Limited sold goods and services to the value of £149,670

(2017: £143,164). As at 31 December 2018 Bryces Farm Limited owed £nil (2017: £nil).

During the period under review Windwhistle Farms limited purchased goods and services from Bryces Farm

Limited to a value of £169,744 (2017:£160,953).

Mr E Cook and Mrs M Cook

Parents of the director Mr A Cook

During the period salary payments were made to Mr E Cook of £780 (2017: £3,033) and Mrs M Cook of £780

(2017: £3,207). At 31 December 2018, Mr E Cook was owed £nil (2017: £nil) and Mrs M Cook was owed £nil

(2017: £nil) by Windwhistle Farms Limited.

The total amount due to the related party at the balance sheet date is £nil (2017: £nil).

Mr A Cook and Mrs S Cook

Directors and shareholders of the company

The grain store which is owned by Windwhistle Farms Limited is situated on land which was purchased by Mr

and Mrs A Cook. The directors allow the company the right to use this land for the purpose of the trade and do

not charge Windwhistle Farms Limited any rent on occupying this land.

As at 31 December 2018 the company owed Mrs S Cook £10,490 (2017:£74) by way of the balance outstanding

on her directors loan account.

As at 31 December 2018 the company owed Mr A Cook £12,733 (2017:£389) by way of the balance outstanding

on his directors loan account.

During the year dividends of £33,500 (2017:£28,500) were paid to directors.

Amount due to this related party at the balance sheet date is £23,223 (2017: £463).

A & S Cook Partnership

Partnership under common control

During the year under review the company had in place a contract farming agreement with A & S Cook, an

unincorporated partnership in which the directors of this company are partners. All transactions were carried out

on an arm's length, market value basis.

During the period under review Windwhistle Farms Limited sold goods and services to A & S Cook for the value

of £66,766 (2017:£63,889).

During the period under review Windwhistle Farms Limited purchased goods and services from A & S Cook to a

value of £108,014 (2017:£98,291).

At the balance sheet date the amount due to this related party was £2,229 (2017:£2,526).

12.	ULTIMATE CONTROLLING PARTY

Throughout the period under review, the company was under the control of Mr. A Cook and Mrs. S Cook, who

each own 50% of the issued share capital.