Winchelsea Farm Foods Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05992353 (England and Wales)

WINCHELSEA FARM FOODS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr S J R Rumsey

Mrs A C E Rumsey

REGISTERED OFFICE:

Elms Farm

Pett Lane

Icklesham

East Sussex

TN36 4AH

REGISTERED NUMBER:

05992353 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

82 High Street

Tenterden

Kent

TN30 6JG

FIXED ASSETS

Tangible assets

4

144,201

179,292

CURRENT ASSETS

Stocks

10,105

10,460

Debtors

5

2,214

1,465

Cash at bank and in hand

16,784

15,045

29,103

26,970

CREDITORS

Amounts falling due within one year

6

21,511

13,282

NET CURRENT ASSETS

7,592

13,688

TOTAL ASSETS LESS CURRENT LIABILITIES

151,793

192,980

CREDITORS

Amounts falling due after more than one year

7

5,813,433

5,668,053

NET LIABILITIES

(5,661,640

)

(5,475,073

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(5,661,642

)

(5,475,075

)

SHAREHOLDERS' FUNDS

(5,661,640

)

(5,475,073

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28th December 2018 and were signed on its behalf by:

Mr S J R Rumsey - Director

1.	STATUTORY INFORMATION

Winchelsea Farm Foods 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors believe it is appropriate to prepare the financial statements on a going concern basis as the

company will continue in operational existence for the foreseeable future and is anticipated to return

profits in future years. In the meantime the company will be financially supported by its parent company,

which is a charity. In order to protect the interests of the charity, one of the directors has provided a

personal guarantee to the company and further funding is supplied by one of the directors when required.

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.

Improvements to property

-

20% on reducing balance

Plant and machinery

-

50% on reducing balance and 15% on reducing balance

Fixtures and fittings

-

50% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on 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.

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.

Deferred tax

No provision in respect of Corporation tax or deferred tax has been made as the company is a trading

subsidiary of a charitable undertaking. The company has the intention to covenant its taxable profits to its

parent undertaking.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 6th April 2017

375,134

91,390

56,398

14,096

537,018

Additions

-

383

-

-

383

At 5th April 2018

375,134

91,773

56,398

14,096

537,401

DEPRECIATION

At 6th April 2017

233,037

67,260

45,679

11,750

357,726

Charge for year

28,419

4,500

1,969

586

35,474

At 5th April 2018

261,456

71,760

47,648

12,336

393,200

NET BOOK VALUE

At 5th April 2018

113,678

20,013

8,750

1,760

144,201

At 5th April 2017

142,097

24,130

10,719

2,346

179,292

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

368

509

Other debtors

1,846

956

2,214

1,465

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

14,146

7,095

Taxation and social security

808

865

Other creditors

6,557

5,322

21,511

13,282

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

5,619,682

5,507,237

Other creditors

193,751

160,816

5,813,433

5,668,053

8.	RELATED PARTY DISCLOSURES

The following transactions occurred in the year in connection with related parties:

There was a loan due to The Wetland Trust, the company's immediate parent undertaking of £5,509,492

(2017: £5,507,237). The directors, Mr S J R Rumsey and Mrs A Rumsey are trustees of The Wetland Trust.

The loan was made on an arms length basis and interest is charged at commercial rates. This loan is

repayable on demand but the parent undertaking has indicated its willingness to defer any repayment of

this loan until after more than one year. The director Mr S J R Rumsey has given a personal guarantee in

support of the full amount of the loan owed to The Wetland Trust.

There was a loan due to Mr S J R Rumsey, a director of the company of £193,750 (2017: £160,816). This

loan is repayable on demand but the director has indicated his willingness to defer any repayment of this

loan until after more than one year. The loan is interest free.

9.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the board of trustees of The Wetland Trust, a UK registered

charity, of which Mr S J R Rumsey and Mrs A C E Rumsey are members.