Winnall Down Farm Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03237372 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

WINNALL DOWN FARM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R H Cowen

Miss E Cowen

Miss V Cowen

Miss C A Cowen

Mrs L Cowen

H W McCowen

SECRETARY:

Martin and Company (Company Secretaries) Limited

REGISTERED OFFICE:

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

REGISTERED NUMBER:

03237372 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Intangible assets

4

1,835

1,835

Tangible assets

5

6,045,687

6,079,736

6,047,522

6,081,571

CURRENT ASSETS

Debtors

6

445,048

219,940

Cash at bank

335,857

681,106

780,905

901,046

CREDITORS

Amounts falling due within one year

7

1,613,293

1,623,522

NET CURRENT LIABILITIES

(832,388

)

(722,476

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,215,134

5,359,095

CREDITORS

Amounts falling due after more than one year

8

(2,250,000

)

(2,257,048

)

PROVISIONS FOR LIABILITIES

(71,040

)

(76,852

)

NET ASSETS

2,894,094

3,025,195

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,894,092

3,025,193

SHAREHOLDERS' FUNDS

2,894,094

3,025,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 4 June 2021 and were signed on its behalf by:

R H Cowen - Director

1.	STATUTORY INFORMATION

Winnall Down Farm 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Freehold property

-

nil

Plant and machinery

-

20% on reducing balance

Solar PV Panels

-

4% on cost

Motor vehicles

-

25% on reducing balance

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

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2020

and 31 March 2021

1,835

NET BOOK VALUE

At 31 March 2021

1,835

At 31 March 2020

1,835

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Solar PV

Motor

property

machinery

Panels

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2020

5,776,798

194,927

155,968

93,646

6,221,339

Additions

-

1,007

-

-

1,007

At 31 March 2021

5,776,798

195,934

155,968

93,646

6,222,346

DEPRECIATION

At 1 April 2020

-

60,999

51,862

28,742

141,603

Charge for year

-

15,835

6,239

12,982

35,056

At 31 March 2021

-

76,834

58,101

41,724

176,659

NET BOOK VALUE

At 31 March 2021

5,776,798

119,100

97,867

51,922

6,045,687

At 31 March 2020

5,776,798

133,928

104,106

64,904

6,079,736

Included within Land and Buildings are properties whose residual value is considered greater than their cost and are therefore not depreciated.

The balance of the category relates to non-depreciable freehold land.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

11,759

5,956

Other debtors

433,289

213,984

445,048

219,940

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

1,533,839

1,562,024

Hire purchase contracts

7,048

7,411

Trade creditors

6,608

13,420

Taxation and social security

45,506

34,891

Other creditors

20,292

5,776

1,613,293

1,623,522

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Hire purchase contracts

-

7,048

Other creditors

2,250,000

2,250,000

2,250,000

2,257,048

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans

2,250,000

2,250,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

31.3.21

31.3.20

£

£

R H Cowen

Balance outstanding at start of year

199,084

-

Amounts advanced

150,435

199,084

Amounts repaid

(199,084

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

150,435

199,084