Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-304The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-05-01falseFarming3truetrue 00978464 2022-05-01 2023-04-30 00978464 2021-05-01 2022-04-30 00978464 2023-04-30 00978464 2022-04-30 00978464 c:CompanySecretary1 2022-05-01 2023-04-30 00978464 c:Director2 2022-05-01 2023-04-30 00978464 c:Director3 2022-05-01 2023-04-30 00978464 c:RegisteredOffice 2022-05-01 2023-04-30 00978464 d:Buildings 2022-05-01 2023-04-30 00978464 d:Buildings 2023-04-30 00978464 d:Buildings 2022-04-30 00978464 d:Buildings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 00978464 d:Buildings d:LeasedAssetsHeldAsLessee 2022-05-01 2023-04-30 00978464 d:Buildings d:LongLeaseholdAssets 2022-05-01 2023-04-30 00978464 d:PlantMachinery 2022-05-01 2023-04-30 00978464 d:PlantMachinery 2023-04-30 00978464 d:PlantMachinery 2022-04-30 00978464 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 00978464 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-05-01 2023-04-30 00978464 d:MotorVehicles 2022-05-01 2023-04-30 00978464 d:MotorVehicles 2023-04-30 00978464 d:MotorVehicles 2022-04-30 00978464 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 00978464 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-05-01 2023-04-30 00978464 d:FurnitureFittings 2022-05-01 2023-04-30 00978464 d:FurnitureFittings 2023-04-30 00978464 d:FurnitureFittings 2022-04-30 00978464 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 00978464 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-05-01 2023-04-30 00978464 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 00978464 d:LeasedAssetsHeldAsLessee 2022-05-01 2023-04-30 00978464 d:PatentsTrademarksLicencesConcessionsSimilar 2022-05-01 2023-04-30 00978464 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-30 00978464 d:PatentsTrademarksLicencesConcessionsSimilar 2022-04-30 00978464 d:CurrentFinancialInstruments 2023-04-30 00978464 d:CurrentFinancialInstruments 2022-04-30 00978464 d:Non-currentFinancialInstruments 2023-04-30 00978464 d:Non-currentFinancialInstruments 2022-04-30 00978464 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 00978464 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 00978464 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 00978464 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 00978464 d:ShareCapital 2023-04-30 00978464 d:ShareCapital 2022-04-30 00978464 d:RetainedEarningsAccumulatedLosses 2023-04-30 00978464 d:RetainedEarningsAccumulatedLosses 2022-04-30 00978464 c:FRS102 2022-05-01 2023-04-30 00978464 c:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 00978464 c:FullAccounts 2022-05-01 2023-04-30 00978464 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 00978464 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-05-01 2023-04-30 00978464 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-30 00978464 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-30 00978464 2 2022-05-01 2023-04-30 00978464 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 00978464










WILLIAM WRIGHT & SONS (FARMERS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
 
 
COMPANY INFORMATION


Directors
A Wright 
P J Wright 




Company secretary
A Wright



Registered number
00978464



Registered office
7 The Close

Norwich

Norfolk

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 9


 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WILLIAM WRIGHT & SONS (FARMERS) LIMITED
FOR THE YEAR ENDED 30 APRIL 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of William Wright & Sons (Farmers) Limited for the year ended 30 April 2023 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of William Wright & Sons (Farmers) Limited, as a body, in accordance with the terms of our engagement letter dated 16 June 2020Our work has been undertaken solely to prepare for your approval the financial statements of William Wright & Sons (Farmers) Limited  and state those matters that we have agreed to state to the Board of Directors of William Wright & Sons (Farmers) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than William Wright & Sons (Farmers) Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that William Wright & Sons (Farmers) 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 William Wright & Sons (Farmers) Limited. You consider that William Wright & Sons (Farmers) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of William Wright & Sons (Farmers) 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.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
18 October 2023
Page 1

 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
REGISTERED NUMBER: 00978464

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
316

Tangible assets
 5 
427,029
417,379

  
427,029
417,695

Current assets
  

Stocks
  
129,967
107,335

Debtors: amounts falling due within one year
 6 
29,893
44,955

Cash at bank and in hand
  
153,995
202,723

  
313,855
355,013

Creditors: amounts falling due within one year
 7 
(291,706)
(388,157)

Net current assets/(liabilities)
  
 
 
22,149
 
 
(33,144)

Total assets less current liabilities
  
449,178
384,551

Creditors: amounts falling due after more than one year
 8 
(8,500)
-

Provisions for liabilities
  

Deferred tax
  
(37,234)
(33,426)

Net assets
  
403,444
351,125


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
403,344
351,025

  
403,444
351,125


Page 2

 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
REGISTERED NUMBER: 00978464
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 October 2023.




A Wright
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

The Company is a United Kingdom company limited by shares. It is both incorporated and domiciled in England and Wales. The registered office address of the company is 7 The Close, Norwich, Norfolk, NR1 4DJ. The principal place of activity for the company is Norfolk.
The company's principal activity continues to be that of farming.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of crops sold, pig rearing and grants receivable, exclusive of Value Added Tax.

Revenue is recognised in the following manner:-

Crops sold - on physical delivery to the customer;
Pig rearing - on completion of engagement;
Grants income - in the year when the qualifying conditions entitling payment are met.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Basic payment entitlements
-
7 years

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on both a striaght line and reducing balance method.

Depreciation is provided on the following basis:

Buildings
-
4%
straight line
Property improvements
-
10%
straight line
Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Tractors
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks and closing valuation for cultivations (work in progress) are valued at the lower of cost and net realisable value. Costs have been determined from cost of production calculations. Net realisable value represents estimated selling price for produce in store with values reduced in accordance with guidance within H M Revenue & Customs help sheet HS232. Consumable stocks are values at cost.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 4.


4.


Intangible assets




BPS Entitlements

£



Cost


At 1 May 2022
2,210



At 30 April 2023

2,210



Amortisation


At 1 May 2022
1,894


Charge for the year on owned assets
316



At 30 April 2023

2,210



Net book value



At 30 April 2023
-



At 30 April 2022
316



Page 7

 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Tangible fixed assets





Land, buildings and improvements
Plant & machinery
Motor vehicles
Tractors
Total

£
£
£
£
£



Cost or valuation


At 1 May 2022
441,154
406,467
30,316
207,381
1,085,318


Additions
-
12,485
-
86,530
99,015


Disposals
-
-
-
(72,290)
(72,290)



At 30 April 2023

441,154
418,952
30,316
221,621
1,112,043



Depreciation


At 1 May 2022
207,782
330,340
29,029
100,788
667,939


Charge for the year on owned assets
9,908
13,837
322
9,588
33,655


Charge for the year on financed assets
-
-
-
12,980
12,980


Disposals
-
-
-
(29,560)
(29,560)



At 30 April 2023

217,690
344,177
29,351
93,796
685,014



Net book value



At 30 April 2023
223,464
74,775
965
127,825
427,029



At 30 April 2022
233,372
76,127
1,287
106,593
417,379


6.


Debtors

2023
2022
£
£


Trade debtors
22,602
38,963

Other debtors
7,291
5,992

29,893
44,955


Page 8

 
WILLIAM WRIGHT & SONS (FARMERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,648
7,954

Other taxation and social security
4,259
20,375

Obligations under finance lease and hire purchase contracts
8,575
-

Other creditors
250,317
342,622

Accruals and deferred income
22,907
17,206

291,706
388,157



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
8,500
-

8,500
-


The obligations under finance leases and hire purchase contracts are secured on the assets financed.


9.


Related party transactions

At the year end the combined balance on the directors loan accounts was £250,318 (2022 - £287,782). The loans are interest free, repayable on demand, and are included within other creditors in note 7 to the financial statements.

Page 9