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REGISTERED NUMBER: 00508453 (England and Wales)











The Whittern Farms Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023






The Whittern Farms Limited (Registered number: 00508453)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


The Whittern Farms Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mrs JP Hilditch
Mrs J Green
IG Hilditch



SECRETARY: Mrs J Green



REGISTERED OFFICE: Next End Farm
Lyonshall
Kington
Herefordshire
HR5 3JA



REGISTERED NUMBER: 00508453 (England and Wales)



ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF



BANKERS: Barclays Bank



SOLICITORS: Lodders Solicitors LLP
Number Ten Elm Court
Arden Street
Stratford upon Avon
CV37 6PA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Whittern Farms 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 Profit and loss account 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 The Whittern Farms Limited for the year ended 30 June 2023 which comprise the Profit and Loss Account, 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 The Whittern Farms 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 The Whittern Farms Limited and state those matters that we have agreed to state to the Board of Directors of The Whittern Farms 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 The Whittern Farms Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Whittern Farms 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 The Whittern Farms Limited. You consider that The Whittern Farms 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 The Whittern Farms 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.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


9 February 2024

The Whittern Farms Limited (Registered number: 00508453)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,081,013 5,792,641
Investments 5 477 52,735
6,081,490 5,845,376

CURRENT ASSETS
Stocks 6 297,152 583,840
Debtors 7 810,032 679,362
Cash at bank 65,261 -
1,172,445 1,263,202
CREDITORS
Amounts falling due within one year 8 1,006,297 1,306,251
NET CURRENT ASSETS/(LIABILITIES) 166,148 (43,049 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,247,638

5,802,327

CREDITORS
Amounts falling due after more than one
year

9

(3,170,563

)

(2,691,938

)

PROVISIONS FOR LIABILITIES 11 (49,532 ) (50,958 )
NET ASSETS 3,027,543 3,059,431

CAPITAL AND RESERVES
Allotted, issued and fully
paid share capital 51,000 51,000
Undistributable retained
earnings - 38,826
Distributable retained
earnings 2,976,543 2,969,605
SHAREHOLDERS' FUNDS 3,027,543 3,059,431

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 Whittern Farms Limited (Registered number: 00508453)

Balance Sheet - continued
30 June 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:





Mrs JP Hilditch - Director


The Whittern Farms Limited (Registered number: 00508453)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

The Whittern Farms 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.

The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate to prepare the accounts on the going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about The Whittern Farms Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 402 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Holiday let income is recognised on the commencement of the holiday.

Tangible fixed assets
Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its estimated useful life, as follows:

Freehold landNil
Improvements to property4% straight line and 8% reducing balance
Plant and machinery8% - 30% reducing balance and
5% straight line
Biological assetsOrchard 6.67% straight line
Blackcurrants 6.67% straight line
Vineyards 5% straight line from production

Orchards, blackcurrants and vineyards are classified as biological assets and are valued at depreciated cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

In stock are broiler chickens and arable growing crop which are valued at cost. Also included are harvested arable crops held at cost calculated with reference to market value.


The Whittern Farms Limited (Registered number: 00508453)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Investments
Investments are valued at market value. Market values are arrived at as follows -
a. The investments in Arrow Buying and Marketing Company Limited and Arrow Vale Contracting Limited are valued based on The Whittern Farms Limited's share of the companies net assets.
b. White Heron Boats Limited is dormant and has net liabilities and therefore has no value.

A loan to a connected company is written down to its estimated recoverable amount.

3. EMPLOYEES

The average number of employees during the year was 22 (2022 - 21 ) .

The Whittern Farms Limited (Registered number: 00508453)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
land property machinery
£    £    £   
COST
At 1 July 2022 421,700 3,121,438 6,079,192
Additions - 44,128 770,808
Disposals - - -
At 30 June 2023 421,700 3,165,566 6,850,000
DEPRECIATION
At 1 July 2022 - 1,578,348 2,712,689
Charge for year - 136,013 397,829
Eliminated on disposal - - -
At 30 June 2023 - 1,714,361 3,110,518
NET BOOK VALUE
At 30 June 2023 421,700 1,451,205 3,739,482
At 30 June 2022 421,700 1,543,090 3,366,503

Fixtures
and Biological
fittings assets Totals
£    £    £   
COST
At 1 July 2022 291,190 526,722 10,440,242
Additions - 45,930 860,866
Disposals - (5,507 ) (5,507 )
At 30 June 2023 291,190 567,145 11,295,601
DEPRECIATION
At 1 July 2022 210,248 146,316 4,647,601
Charge for year 12,140 26,512 572,494
Eliminated on disposal - (5,507 ) (5,507 )
At 30 June 2023 222,388 167,321 5,214,588
NET BOOK VALUE
At 30 June 2023 68,802 399,824 6,081,013
At 30 June 2022 80,942 380,406 5,792,641

The net book value of fixed assets includes £138,851 (2022 - £10,940) in respect of fixed assets held under hire purchase contracts.

The Whittern Farms Limited (Registered number: 00508453)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022 52,735
Share of profit/(loss) (52,258 )
At 30 June 2023 477
NET BOOK VALUE
At 30 June 2023 477
At 30 June 2022 52,735

6. STOCKS
2023 2022
£    £   
Raw materials 102,088 56,817
Growing crop 195,064 514,838
Finished goods - 12,185
297,152 583,840

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 304,370 134,698
Owed by related parties 221,267 281,084
Loans to employees 800 1,200
VAT 56,621 86,063
Prepayments and accrued income 226,974 176,317
810,032 679,362

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 250,600 553,100
Hire purchase contracts 26,054 3,291
Trade creditors 418,105 561,754
Social security and other taxes 18,868 20,228
Directors' loan accounts 121,979 31,498
Accruals and deferred income 170,691 136,380
1,006,297 1,306,251

The Whittern Farms Limited (Registered number: 00508453)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans due in 1 - 2 years 310,668 345,332
Bank loans due in 2 - 5 years 877,791 952,949
Bank loans due after 5 years 1,393,848 1,363,903
Hire purchase contracts 81,223 10,875
Directors' loan accounts 500,000 -
Accruals and deferred income 7,033 18,879
3,170,563 2,691,938

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 years 1,393,848 1,363,903

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 219,867
Bank loans 2,832,907 2,995,417
Hire purchase contracts 107,277 14,166
2,940,184 3,229,450

The bank loans and any overdraft are secured by a debenture and fixed and floating charge dated 23 March 1997; a legal charge over poultry units F and K at Next End, Lyonshall, Kington, Herefordshire; a legal charge over poultry unit P at Hunton Bridge, Lyonshall, Kington, Herefordshire, a charge over the freehold property comprising the extension to the existing Hunton site together with the 2 new units at Lyonshall, Kington and a legal charge over 46 acres of land at Castle Weir, Lyonshall, Kington. The obligations under hire purchase contracts are secured by the related assets. The director, Mrs JP Hilditch has also provided a guarantee of £50,000 and one of £300,000.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Advanced capital allowances 914,249 816,120
Revenue losses (864,594 ) (778,102 )
Other timing differences (123 ) 12,940
49,532 50,958

The Whittern Farms Limited (Registered number: 00508453)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2022 50,958
Advanced capital allowances 97,437
Advanced buildings allowances 692
Investment revaluation (13,063 )
Trading losses (86,492 )
Balance at 30 June 2023 49,532

12. CAPITAL COMMITMENTS

At the year end the company was committed to purchasing any plant and equipment of £15,367 (2022: £149,310).

13. OTHER FINANCIAL COMMITMENTS

The company leases farmland for £75,000 per annum. The lease is in perpetuity.

14. RELATED PARTY DISCLOSURES

Group accounts are not prepared as the company's subsidiary, White Heron Boats Limited, is a dormant company with net liabilities that are of a level that are trivial to The Whittern Farms Limited. White Heron Brands Limited occupies property rent free and is not charged for administration support.

The company's arable enterprise is operated by its associated companies. One of these companies ceased trading during the year.

Included in debtors is a loan due from a company under common control for £219,444 (2022: £268,293). This is interest free and repayable on demand. This is written down to the net asset value of the borrower. The gross amount due is £321,970 (2022: £345,346).

A company director is owed £621,979 (2022: £31,498) at the year end. The loan is interest free and unsecured. it has been agreed that £500,000 of the loan is repayable after one year.

Please see the secured debts note for details of personal guarantees given by the directors.