Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-302false2022-10-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01333377 2022-10-01 2023-09-30 01333377 2021-10-01 2022-09-30 01333377 2023-09-30 01333377 2022-09-30 01333377 c:Director1 2022-10-01 2023-09-30 01333377 d:Buildings 2022-10-01 2023-09-30 01333377 d:Buildings 2023-09-30 01333377 d:Buildings 2022-09-30 01333377 d:Buildings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 01333377 d:PlantMachinery 2022-10-01 2023-09-30 01333377 d:PlantMachinery 2023-09-30 01333377 d:PlantMachinery 2022-09-30 01333377 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 01333377 d:MotorVehicles 2022-10-01 2023-09-30 01333377 d:MotorVehicles 2023-09-30 01333377 d:MotorVehicles 2022-09-30 01333377 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 01333377 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 01333377 d:CurrentFinancialInstruments 2023-09-30 01333377 d:CurrentFinancialInstruments 2022-09-30 01333377 d:Non-currentFinancialInstruments 2023-09-30 01333377 d:Non-currentFinancialInstruments 2022-09-30 01333377 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 01333377 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 01333377 d:ShareCapital 2023-09-30 01333377 d:ShareCapital 2022-09-30 01333377 d:RetainedEarningsAccumulatedLosses 2023-09-30 01333377 d:RetainedEarningsAccumulatedLosses 2022-09-30 01333377 c:FRS102 2022-10-01 2023-09-30 01333377 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 01333377 c:FullAccounts 2022-10-01 2023-09-30 01333377 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 01333377 2 2022-10-01 2023-09-30 01333377 6 2022-10-01 2023-09-30 01333377 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 01333377 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 iso4217:GBP xbrli:pure
                                                                                                                Registered number: 01333377














WINDMILL DOWN FARMS LIMITED




UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
WINDMILL DOWN FARMS LIMITED
REGISTERED NUMBER:01333377

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
671,760
297,263

Investments
 5 
50
50

  
671,810
297,313

Current assets
  

Stocks
  
96,847
100,996

Debtors: amounts falling due after more than one year
 6 
20,000
20,000

Debtors: amounts falling due within one year
 6 
81,874
122,587

Cash at bank and in hand
  
120,372
261,269

  
319,093
504,852

Creditors: amounts falling due within one year
 7 
(263,545)
(87,574)

Net current assets
  
 
 
55,548
 
 
417,278

Total assets less current liabilities
  
727,358
714,591

Provisions for liabilities
  

Deferred tax
 8 
(59,560)
(47,722)

  
 
 
(59,560)
 
 
(47,722)

Net assets
  
667,798
666,869


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
667,698
666,769

  
667,798
666,869

Page 1

 
WINDMILL DOWN FARMS LIMITED
REGISTERED NUMBER:01333377
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 income statement 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 by: 




A B Mason
Director

Date: 26 February 2024

The notes on pages 3 to 11 form part of these financial statements.
Page 2

 
WINDMILL DOWN FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Windmill Down Farms Limited is a private company limited by shares and incorporated in England in Wales, registration number 01333377. The registered office is Woodhouse Farm, Cockfield, Bradfield St Clare, Bury St Edmunds, Suffolk, IP30 0HP.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

Page 3

 
WINDMILL DOWN FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

Page 4

 
WINDMILL DOWN FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

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 reporting 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 reporting 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 reporting date.

 
2.5

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.

Depreciation is provided on the following basis:

Freehold property
-
2% and 10% straight line
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% straight line

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 the Income Statement.

Page 5

 
WINDMILL DOWN FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the cost of purchase.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
Page 6

 
WINDMILL DOWN FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
WINDMILL DOWN FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
2
2


4.


Tangible fixed assets





Buildings
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 October 2022
339,801
495,332
15,500
850,633


Additions
-
478,260
-
478,260


Disposals
-
(86,614)
-
(86,614)



At 30 September 2023

339,801
886,978
15,500
1,242,279



Depreciation


At 1 October 2022
162,694
380,020
10,656
553,370


Charge for the year on owned assets
32,560
39,176
3,875
75,611


Disposals
-
(58,462)
-
(58,462)



At 30 September 2023

195,254
360,734
14,531
570,519



Net book value



At 30 September 2023
144,547
526,244
969
671,760



At 30 September 2022
177,107
115,312
4,844
297,263

Page 8

 
WINDMILL DOWN FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 October 2022
50



At 30 September 2023
50




Page 9

 
WINDMILL DOWN FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
20,000
20,000

20,000
20,000


2023
2022
£
£

Due within one year

Trade debtors
12,619
10,135

Other debtors
31,535
2,595

Prepayments and accrued income
37,720
109,857

81,874
122,587



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
22,243
26,758

Corporation tax
-
31,140

Other taxation and social security
86
-

Obligations under finance lease and hire purchase contracts
222,880
-

Accruals and deferred income
18,336
29,676

263,545
87,574


Page 10

 
WINDMILL DOWN FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


Deferred taxation




2023


£






At beginning of year
(47,722)


Charged to profit or loss
(11,838)



At end of year
(59,560)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(59,560)
(47,722)

(59,560)
(47,722)


Page 11