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 2019

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

1,047,990

1,057,147

Investments

5

25

25

1,048,015

1,057,172

CURRENT ASSETS

Stocks

230,883

248,863

Debtors

6

251,030

297,919

Cash at bank

146,054

105,174

627,967

651,956

CREDITORS

Amounts falling due within one year

7

281,273

442,569

NET CURRENT ASSETS

346,694

209,387

TOTAL ASSETS LESS CURRENT LIABILITIES

1,394,709

1,266,559

CREDITORS

Amounts falling due after more than one year

8

(226,779

)

(116,861

)

PROVISIONS FOR LIABILITIES

9

(170,124

)

(147,015

)

NET ASSETS

997,806

1,002,683

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

996,806

1,001,683

SHAREHOLDERS' FUNDS

997,806

1,002,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 2 July 2020 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 3 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2019

111,610

1,764,415

58,505

Additions

-

325,490

-

Disposals

-

(376,518

)

-

At 31 December 2019

111,610

1,713,387

58,505

DEPRECIATION

At 1 January 2019

-

838,192

41,429

Charge for year

-

223,338

2,559

Eliminated on disposal

-

(268,126

)

-

At 31 December 2019

-

793,404

43,988

NET BOOK VALUE

At 31 December 2019

111,610

919,983

14,517

At 31 December 2018

111,610

926,223

17,076

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2019

500

5,289

1,940,319

Additions

-

-

325,490

Disposals

-

-

(376,518

)

At 31 December 2019

500

5,289

1,889,291

DEPRECIATION

At 1 January 2019

150

3,401

883,172

Charge for year

75

283

226,255

Eliminated on disposal

-

-

(268,126

)

At 31 December 2019

225

3,684

841,301

NET BOOK VALUE

At 31 December 2019

275

1,605

1,047,990

At 31 December 2018

350

1,888

1,057,147

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

Plant and

machinery

£

COST

At 1 January 2019

1,073,501

Additions

317,250

At 31 December 2019

1,390,751

DEPRECIATION

At 1 January 2019

422,105

Charge for year

154,088

At 31 December 2019

576,193

NET BOOK VALUE

At 31 December 2019

814,558

At 31 December 2018

651,396

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2019

and 31 December 2019

25

NET BOOK VALUE

At 31 December 2019

25

At 31 December 2018

25

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

57,411

93,520

Other debtors

7,599

-

A & S Cook

47,755

-

Prepayments

26,632

34,626

Accrued income

111,633

169,773

251,030

297,919

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

119,321

210,458

Trade creditors

39,300

19,294

Tax

-

7,599

Social security and other taxes

161

200

Net wages due

1,493

-

VAT

1,226

16,958

A & S Cook

-

244

Directors' current accounts

4,746

23,223

Capital grant

2,382

2,382

Accrued expenses

112,644

162,211

281,273

442,569

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

214,867

102,567

Capital grant

11,912

14,294

226,779

116,861

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

170,124

147,015

Deferred

tax

£

Balance at 1 January 2019

147,015

Accelerated capital allowances

23,109

Balance at 31 December 2019

170,124

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

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 £146,778

(2018: £149,670). As at 31 December 2019 Bryces Farm Limited owed £53,700 (2018: £nil).

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

Limited to a value of £168,750 (2018:£169,744).

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 2019 the company owed Mrs S Cook £703 (2018:£10,490) by way of the balance

outstanding on her directors loan account.

As at 31 December 2019 the company owed Mr A Cook £4,043 (2018:£12,733) by way of the balance

outstanding on his directors loan account.

During the year dividends of £61,000 (2018:£33,500) were paid to directors.

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 £54,720 (2018:£66,766).

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

value of £120,781 (2018:£108,014).

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.