W.R. Humphrey & Son (Farmers) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00563438 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2020

for

W.R. Humphrey & Son (Farmers) Limited

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

7

Directors:

G K Humphrey

A R Humphrey

Registered office:

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

Business address:

Glebe Farm

Cuckoo Bridge

Spalding

Lincolnshire

PE11 3JQ

Registered number:

00563438 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of financial position. Readers are cautioned that the Income

statement and certain other primary statements and the Report of the directors are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of W.R. Humphrey & Son (Farmers) Limited for the year ended 31 May 2020 which

comprise the Statement of income and retained earnings, Statement of financial position and the related

notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that W.R. Humphrey & Son (Farmers) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of W.R. Humphrey & Son (Farmers) Limited. You consider that W.R. Humphrey & Son (Farmers) 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 financial statements of W.R. Humphrey & Son (Farmers) 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 financial statements.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

23 September 2020

Fixed assets

Tangible assets

5

108,756

79,076

Investments

6

237

237

108,993

79,313

Current assets

Stocks

7

39,938

46,689

Debtors

8

12,409

6,842

Cash at bank and in hand

72,416

104,560

124,763

158,091

Creditors

Amounts falling due within one year

9

20,217

28,891

Net current assets

104,546

129,200

Total assets less current liabilities

213,539

208,513

Provisions for liabilities

20,664

15,024

Net assets

192,875

193,489

Capital and reserves

Called up share capital

10

10,000

10,000

Retained earnings

182,875

183,489

Shareholders' funds

192,875

193,489

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2020 and were signed on its behalf by:

A R Humphrey - Director

1.	Statutory information

W.R. Humphrey & Son (Farmers) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Grain drying plant

-

15% reducing balance

Motorised machinery

-

25% on reducing balance

Fixtures

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Implements

-

15% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

4.	Employees and directors

The average number of employees during the year was 2 (2019 - 2 ) .

5.	Tangible fixed assets

Grain

drying

Motorised

plant

machinery

Fixtures

£

£

£

Cost

At 1 June 2019

4,827

285,944

1,924

Additions

-

71,650

-

Disposals

-

(37,433

)

-

At 31 May 2020

4,827

320,161

1,924

Depreciation

At 1 June 2019

4,792

222,803

1,134

Charge for year

5

32,003

118

Eliminated on disposal

-

(30,656

)

-

At 31 May 2020

4,797

224,150

1,252

Net book value

At 31 May 2020

30

96,011

672

At 31 May 2019

35

63,141

790

Motor

vehicles

Implements

Totals

£

£

£

Cost

At 1 June 2019

20,823

46,079

359,597

Additions

-

-

71,650

Disposals

-

-

(37,433

)

At 31 May 2020

20,823

46,079

393,814

Depreciation

At 1 June 2019

12,813

38,979

280,521

Charge for year

2,002

1,065

35,193

Eliminated on disposal

-

-

(30,656

)

At 31 May 2020

14,815

40,044

285,058

Net book value

At 31 May 2020

6,008

6,035

108,756

At 31 May 2019

8,010

7,100

79,076

6.	Fixed asset investments

Investments (neither listed nor unlisted) were as follows:

2020

2019

£

£

Other investments not loans brought forward

237

237

7.

Stocks

2020

2019

£

£

Stocks

39,938

46,689

8.

Debtors: amounts falling due within one year

2020

2019

£

£

Corporation tax

5,216

-

VAT

703

937

Prepayments and accrued income

6,490

5,905

12,409

6,842

9.

Creditors: amounts falling due within one year

2020

2019

£

£

Tax

-

9,728

Social security and other taxes

618

2,212

Other creditors

856

856

Directors' loan accounts

12,783

10,430

Accruals and deferred income

5,960

5,665

20,217

28,891

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

10,000

Ordinary shares

£1

10,000

10,000