Woodland Estates Farming Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08747317 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Woodland Estates Farming Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

D A Wann

L M Hall

REGISTERED OFFICE:

15 Newland

Lincoln

Lincolnshire

LN1 1XG

REGISTERED NUMBER:

08747317 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

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 Balance Sheet. 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 Woodland Estates Farming Limited for the year ended 31 December 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Woodland Estates Farming 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 Woodland Estates Farming Limited and state those matters that we have agreed to state to the Board of Directors of Woodland Estates Farming 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 Woodland Estates Farming Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Woodland Estates Farming 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 loss of Woodland Estates Farming Limited. You consider that Woodland Estates Farming 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 Woodland Estates Farming 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.

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

20 December 2023

FIXED ASSETS

Tangible assets

4

4,110,894

4,023,663

CURRENT ASSETS

Debtors

5

1,323,927

238,465

Cash at bank

17,609

271,766

1,341,536

510,231

CREDITORS

Amounts falling due within one year

6

1,588,489

762,791

NET CURRENT LIABILITIES

(246,953

)

(252,560

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,863,941

3,771,103

CREDITORS

Amounts falling due after more than one year

7

(1,230,188

)

(1,172,833

)

PROVISIONS FOR LIABILITIES

(581,066

)

(436,979

)

NET ASSETS

2,052,687

2,161,291

CAPITAL AND RESERVES

Called up share capital

9

1

1

Revaluation reserve

10

1,876,383

2,014,376

Retained earnings

176,303

146,914

SHAREHOLDERS' FUNDS

2,052,687

2,161,291

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 20 December 2023 and were signed on its behalf by:

L M Hall - Director

D A Wann - Director

1.	STATUTORY INFORMATION

Woodland Estates Farming 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 as modified by the revaluation of certain assets.

The Directors have prepared the accounts on the going concern basis on the assumption that the directors will continue to support the entity. At the year end the Company had net current liabilities of £246,953 (2021: £252,560).

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.

Freehold property

-

not provided

Improvements to property

-

10% on reducing balance

Plant and machinery

-

20% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2022

3,994,737

45,744

12,917

4,053,398

Additions

-

-

100,250

100,250

At 31 December 2022

3,994,737

45,744

113,167

4,153,648

DEPRECIATION

At 1 January 2022

-

18,985

10,750

29,735

Charge for year

-

2,561

10,458

13,019

At 31 December 2022

-

21,546

21,208

42,754

NET BOOK VALUE

At 31 December 2022

3,994,737

24,198

91,959

4,110,894

At 31 December 2021

3,994,737

26,759

2,167

4,023,663

Included in cost or valuation of land and buildings is freehold land of £ 3,994,737 (2021 - £ 3,994,737 ) which is not depreciated.

Cost or valuation at 31 December 2022 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2014

2,824,821

-

2,824,821

Valuation in 2016

(108,804

)

-

(108,804

)

Valuation in 2020

(264,663

)

-

(264,663

)

Cost

1,543,383

158,911

1,702,294

3,994,737

158,911

4,153,648

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2022

2021

£

£

Cost

1,543,383

1,543,383

Freehold land and buildings were valued on an open market basis on 23 June 2020 by Brown & Co .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

107,322

156,418

Other debtors

1,216,605

82,047

1,323,927

238,465

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

8,600

8,600

Hire purchase contracts

16,423

-

Trade creditors

4,252

5,605

Taxation and social security

365

23,321

Other creditors

1,558,849

725,265

1,588,489

762,791

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

1,164,233

1,172,833

Hire purchase contracts

65,955

-

1,230,188

1,172,833

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,141,300

1,141,300

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

1,172,833

1,181,433

The Bank loan is secured on the freehold land and properties of the company.

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2022

2021

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Revaluation

reserve

£

At 1 January 2022

2,014,376

Revaluation transfer

(137,993

)

At 31 December 2022

1,876,383