Windwhistle Farms Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02842693 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

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 Alresford Limited

Chartered Accountants

Bennett House

The Dean

Alresford

Hampshire

SO24 9BH

FIXED ASSETS

Tangible assets

4

1,473,021

1,496,538

Investments

5

25

25

1,473,046

1,496,563

CURRENT ASSETS

Stocks

136,165

115,119

Debtors

6

358,291

412,085

Cash at bank

186,838

280,893

681,294

808,097

CREDITORS

Amounts falling due within one year

7

545,768

504,407

NET CURRENT ASSETS

135,526

303,690

TOTAL ASSETS LESS CURRENT LIABILITIES

1,608,572

1,800,253

CREDITORS

Amounts falling due after more than one year

8

(156,313

)

(374,546

)

PROVISIONS FOR LIABILITIES

9

(229,227

)

(213,947

)

NET ASSETS

1,223,032

1,211,760

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

1,222,032

1,210,760

SHAREHOLDERS' FUNDS

1,223,032

1,211,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 24 May 2023 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.

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 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2022

111,610

2,253,227

58,505

Additions

-

373,684

-

Disposals

-

(269,260

)

-

At 31 December 2022

111,610

2,357,651

58,505

DEPRECIATION

At 1 January 2022

-

888,450

48,013

Charge for year

-

337,582

1,572

Eliminated on disposal

-

(212,887

)

-

At 31 December 2022

-

1,013,145

49,585

NET BOOK VALUE

At 31 December 2022

111,610

1,344,506

8,920

At 31 December 2021

111,610

1,364,777

10,492

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2022

9,999

5,289

2,438,630

Additions

-

-

373,684

Disposals

-

-

(269,260

)

At 31 December 2022

9,999

5,289

2,543,054

DEPRECIATION

At 1 January 2022

1,500

4,129

942,092

Charge for year

1,500

174

340,828

Eliminated on disposal

-

-

(212,887

)

At 31 December 2022

3,000

4,303

1,070,033

NET BOOK VALUE

At 31 December 2022

6,999

986

1,473,021

At 31 December 2021

8,499

1,160

1,496,538

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

Plant and

machinery

£

COST

At 1 January 2022

1,445,551

Additions

327,934

Reclassification/transfer

(90,501

)

At 31 December 2022

1,682,984

DEPRECIATION

At 1 January 2022

392,864

Charge for year

251,983

Reclassification/transfer

(40,724

)

At 31 December 2022

604,123

NET BOOK VALUE

At 31 December 2022

1,078,861

At 31 December 2021

1,052,687

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2022

and 31 December 2022

25

NET BOOK VALUE

At 31 December 2022

25

At 31 December 2021

25

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

31,665

181,223

A & S Cook

81,563

54,433

VAT

1,141

-

Prepayments

19,849

18,471

Accrued income

224,073

157,958

358,291

412,085

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

8,188

7,986

Hire purchase contracts

346,243

258,110

Trade creditors

3,726

21,141

Social security and other taxes

265

311

VAT

-

22,432

Other creditors

71

-

Directors' current accounts

996

229

Capital grant

2,382

2,382

Accrued expenses

183,897

191,816

545,768

504,407

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 1-2 years

8,395

8,188

Bank loans - 2-5 years

15,206

23,601

Hire purchase contracts

127,947

335,610

Capital grant

4,765

7,147

156,313

374,546

9.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

229,227

213,947

Deferred

tax

£

Balance at 1 January 2022

213,947

Accelerated capital allowances

(4,370

)

Losses carried forward

19,650

Balance at 31 December 2022

229,227

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

500

Ordinary A

£1

500

500

500

Ordinary B

£1

500

500

1,000

1,000

11.	RELATED PARTY DISCLOSURES

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 2022 the company owed Mrs S Cook £601 (2021: £64) by way of the balance outstanding on her directors loan account.

As at 31 December 2022 the company owed Mr A Cook £395 (2021: £165) by way of the balance outstanding on his directors loan account.

During the year dividends of £34,500 (2021:£57,000) were paid to directors.

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.