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REGISTERED NUMBER: 02448583 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2022

for

R.G. Walter & Son (Wheatley) Limited

R.G. Walter & Son (Wheatley) Limited (Registered number: 02448583)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

R.G. Walter & Son (Wheatley) Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: R G Walter
N R Walter





REGISTERED OFFICE: Wheatley Grange Farm
North Wheatley
Nr Retford
Nottinghamshire
DN22 9BQ





REGISTERED NUMBER: 02448583 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Britannia House
Marshall's Yard
Gainsborough
Lincolnshire
DN21 2NA

R.G. Walter & Son (Wheatley) Limited (Registered number: 02448583)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,039,170 1,145,864

CURRENT ASSETS
Stocks 513,854 476,895
Debtors 5 127,678 127,692
Investments 6 100 100
Cash at bank and in hand 19,808 93,747
661,440 698,434
CREDITORS
Amounts falling due within one year 7 367,375 459,863
NET CURRENT ASSETS 294,065 238,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,333,235

1,384,435

CREDITORS
Amounts falling due after more than one
year

8

(211,380

)

(303,870

)

PROVISIONS FOR LIABILITIES (89,431 ) (105,287 )
NET ASSETS 1,032,424 975,278

CAPITAL AND RESERVES
Called up share capital 10 103,260 103,260
Capital redemption reserve 99,940 99,940
Retained earnings 829,224 772,078
SHAREHOLDERS' FUNDS 1,032,424 975,278

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

R.G. Walter & Son (Wheatley) Limited (Registered number: 02448583)

Balance Sheet - continued
31 March 2022


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 3 August 2022 and were signed on its behalf by:




R G Walter - Director



N R Walter - Director


R.G. Walter & Son (Wheatley) Limited (Registered number: 02448583)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

R.G. Walter & Son (Wheatley) 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 the value of sales of livestock and deadstock received during the year exclusive of 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.

Freehold land- nil
Freehold buildings- 4% on cost
Capital improvements- 4% on cost
Glasshouses- 5% on cost
Borehole and reservoir- 2% on cost
Computers- 20% on cost
Motor vehicles- 25% on reducing balance
Tractors- 25% on reducing balance
Plant and machinery- 25% on reducing balance

Stock and valuation
Stock and valuation consists of livestock, deadstock and tenantright.

The valuation of tenantright is based on the cost of materials and labour to 31 March 2022 applied to the crops to be harvested in 2022.

Livestock and deadstock are valued at the cost of production which represents the lower of cost and net realisable value.

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.

Deferred taxation
Provision is made at current rates for taxation deferred in respect of all material timing differences.


Government grants
Government grants are credited to the profit and loss account as they arise.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2021 - 56 ) .

R.G. Walter & Son (Wheatley) Limited (Registered number: 02448583)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. TANGIBLE FIXED ASSETS
Freehold Borehole
land and Capital and
building improvements Glasshouses reservoir
£    £    £    £   
COST
At 1 April 2021 814,256 389,274 178,000 44,274
Additions - - - -
Disposals - - - -
At 31 March 2022 814,256 389,274 178,000 44,274
DEPRECIATION
At 1 April 2021 310,937 269,040 165,520 18,666
Charge for year 14,569 15,571 3,900 885
Eliminated on disposal - - - -
At 31 March 2022 325,506 284,611 169,420 19,551
NET BOOK VALUE
At 31 March 2022 488,750 104,663 8,580 24,723
At 31 March 2021 503,319 120,234 12,480 25,608

Plant and Computer Motor
machinery equipment vehicles Tractors Totals
£    £    £    £    £   
COST
At 1 April 2021 1,074,720 6,345 50,597 184,645 2,742,111
Additions 30,593 1,168 5,000 - 36,761
Disposals (8,300 ) - - - (8,300 )
At 31 March 2022 1,097,013 7,513 55,597 184,645 2,770,572
DEPRECIATION
At 1 April 2021 737,932 3,307 31,740 59,105 1,596,247
Charge for year 69,280 1,652 5,755 31,385 142,997
Eliminated on disposal (7,842 ) - - - (7,842 )
At 31 March 2022 799,370 4,959 37,495 90,490 1,731,402
NET BOOK VALUE
At 31 March 2022 297,643 2,554 18,102 94,155 1,039,170
At 31 March 2021 336,788 3,038 18,857 125,540 1,145,864

Included in cost of land and buildings is freehold land of £ 450,031 (2021 - £ 450,031 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 763 11,838
Other debtors 126,915 115,854
127,678 127,692

6. CURRENT ASSET INVESTMENTS
2022 2021
£    £   
Unlisted investments 100 100

R.G. Walter & Son (Wheatley) Limited (Registered number: 02448583)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 71,682 67,477
Hire purchase contracts 27,696 45,440
Trade creditors 167,296 237,041
Taxation and social security 66,470 94,943
Other creditors 34,231 14,962
367,375 459,863

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 198,340 263,134
Hire purchase contracts 13,040 40,736
211,380 303,870

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 50,320 56,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 270,022 330,611
Hire purchase contracts 40,736 86,176
310,758 416,787

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100,060 Redeemable preference shares £1 100,060 100,060
768 Ordinary A £1 768 768
2,432 Ordinary B £1 2,432 2,432
103,260 103,260

The 6% redeemable preference shares are redeemable upon receipt of notice in writing from the relevant shareholder. The amount payable on redemption and the redemption period shall be at the company's option but will not exceed ten years.

R.G. Walter & Son (Wheatley) Limited (Registered number: 02448583)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
N R Walter
Balance outstanding at start of year 9,262 3,052
Amounts advanced 25,090 103,871
Amounts repaid (50,006 ) (97,661 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (15,654 ) 9,262

R G Walter
Balance outstanding at start of year (1,032 ) (4,571 )
Amounts advanced 18,981 34,666
Amounts repaid (14,999 ) (31,127 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,950 (1,032 )

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
R.G. Walter & Son (Wheatley) Limited

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 R.G. Walter & Son (Wheatley) Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet 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 R.G. Walter & Son (Wheatley) 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 R.G. Walter & Son (Wheatley) Limited and state those matters that we have agreed to state to the Board of Directors of R.G. Walter & Son (Wheatley) 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 R.G. Walter & Son (Wheatley) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that R.G. Walter & Son (Wheatley) 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 R.G. Walter & Son (Wheatley) Limited. You consider that R.G. Walter & Son (Wheatley) 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 R.G. Walter & Son (Wheatley) 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
Britannia House
Marshall's Yard
Gainsborough
Lincolnshire
DN21 2NA


4 August 2022