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Registration number: 00641798

RWW Pantall Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 March 2023

 

RWW Pantall Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

RWW Pantall Limited

Company Information

Directors

Mr P J W Pantall

Mr T P W Pantall

Mr J R F Pantall

Company secretary

Mrs H N Pantall

Registered office

Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Bankers

Lloyds Bank plc
6-8 High Town
Hereford
HR1 2AE

 

Accountants

WJ James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

RWW Pantall Limited

(Registration number: 00641798)

Balance Sheet
as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

718,813

735,626

Investment property

5

225,000

237,500

 

943,813

973,126

Current assets

 

Stocks

57,799

15,586

Debtors

6

28,578

226,384

Cash at bank and in hand

 

47,058

117,857

 

133,435

359,827

Creditors: Amounts falling due within one year

7

(276,757)

(453,987)

Net current liabilities

 

(143,322)

(94,160)

Total assets less current liabilities

 

800,491

878,966

Creditors: Amounts falling due after more than one year

7

(22,500)

(47,778)

Provisions for liabilities

(63,370)

(76,989)

Net assets

 

714,621

754,199

Capital and reserves

 

Called up share capital

100

100

Fair value reserve

130,331

140,455

Profit and loss account

584,190

613,644

Total equity

 

714,621

754,199

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

 

RWW Pantall Limited

(Registration number: 00641798)

Balance Sheet
as at 31 March 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 27 September 2023 and signed on its behalf by:
 

.........................................

Mr P J W Pantall

Director

.........................................

Mr T P W Pantall

Director

.........................................

Mr J R F Pantall

Director

 

RWW Pantall Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG
United Kingdom

The principal place of business is:
Kilkington Manor
Staunton-on-Wye
Herefordshire
HR4 7LW

These financial statements were authorised for issue by the Board on 27 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded up to the nearest £1.

Revenue recognition

Turnover represents poultry sales, subsidies and crop sales stated net of Value Added Tax. Revenue is recognised when it is receivable.

Tax

The tax expense for the period comprises of current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

RWW Pantall Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land

Nil

Freehold buildings

15% on reducing balance

Plant and machinery

15% on reducing balance

Computer equipment

33% on reducing balance

Motor vehicles

25% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit or loss for the period.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, in accordance with HM Revenue and Customs Helpsheet 232.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

RWW Pantall Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 5).

 

RWW Pantall Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

4

Tangible assets

Freehold land
£

Freehold buildings
£

Plant and machinery
£

Computer equipment
£

Cost or valuation

At 1 April 2022

434,381

180,549

959,968

5,737

Additions

-

5,677

29,017

-

At 31 March 2023

434,381

186,226

988,985

5,737

Depreciation

At 1 April 2022

-

155,818

693,625

4,478

Charge for the year

-

4,561

44,303

415

At 31 March 2023

-

160,379

737,928

4,893

Carrying amount

At 31 March 2023

434,381

25,847

251,057

844

At 31 March 2022

434,381

24,731

266,343

1,259

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

38,025

1,618,660

Additions

-

34,694

At 31 March 2023

38,025

1,653,354

Depreciation

At 1 April 2022

29,113

883,034

Charge for the year

2,228

51,507

At 31 March 2023

31,341

934,541

Carrying amount

At 31 March 2023

6,684

718,813

At 31 March 2022

8,912

735,626

5

Investment properties

2023
£

At 1 April

237,500

Fair value adjustments

(12,500)

At 31 March

225,000

 

RWW Pantall Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

Investment property was valued on 31 March 2023 by a director who is internal to the company. The basis of this valuation was an open market basis. This class of assets has a current value of £225,000 (2022 - £237,500) and a carrying amount at historical cost of £98,773 (2022 - £98,773). The depreciation on this historical cost is £Nil (2022 - £Nil).

This has resulted in a reduction in the fair value of £12,500 during the year ended 31 March 2023.

6

Debtors

2023
£

2022
£

Trade debtors

-

9,291

Prepayments

56

2,962

Other debtors

28,522

214,131

28,578

226,384

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

25,278

26,667

Trade creditors

 

3,659

7,316

Taxation and social security

 

44

-

Accruals and deferred income

 

7,323

154,315

Other creditors

 

240,453

265,689

 

276,757

453,987

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

22,500

47,778

 

RWW Pantall Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

22,500

32,500

HP and finance lease liabilities

-

15,278

22,500

47,778

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

HP and finance lease liabilities

15,278

16,667

25,278

26,667