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REGISTERED NUMBER: 00563221 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Wares Farm Limited

Wares Farm Limited (Registered number: 00563221)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wares Farm Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: A C Simpson
C G Simpson
G W Simpson





REGISTERED OFFICE: Wares Farm
Good Easter
Nr. Chelmsford
Essex
CM1 4RZ





REGISTERED NUMBER: 00563221 (England and Wales)





ACCOUNTANTS: Fisher Michael
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT

Wares Farm Limited (Registered number: 00563221)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 374,970 443,752

CURRENT ASSETS
Stocks 136,851 127,025
Debtors 5 19,671 72,988
Cash at bank 83,533 29,162
240,055 229,175
CREDITORS
Amounts falling due within one year 6 76,520 86,551
NET CURRENT ASSETS 163,535 142,624
TOTAL ASSETS LESS CURRENT
LIABILITIES

538,505

586,376

CREDITORS
Amounts falling due after more than one
year

7

-

17,533
NET ASSETS 538,505 568,843

CAPITAL AND RESERVES
Called up share capital 6,805 6,805
Other reserves 80,000 80,000
Retained earnings 451,700 482,038
SHAREHOLDERS' FUNDS 538,505 568,843

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Wares Farm Limited (Registered number: 00563221)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:





A C Simpson - Director


Wares Farm Limited (Registered number: 00563221)

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

1. STATUTORY INFORMATION

Wares Farm 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The company is not part of a group.

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
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life:

Land and buildings - 2% on cost

Plant and machinery etc - 33% on cost and 15% and 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value.


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 and loans from related parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Wares Farm Limited (Registered number: 00563221)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Significant judgements and estimates
No significant judgements or estimations have been applied in the preparation of the financial statements.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Other financial liabilities, such as hire purchase are also measured at transaction price since the difference between this basis and the amortised cost basis is not material.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 276,246 854,364 1,130,610
Additions - 2,000 2,000
Disposals - (6,635 ) (6,635 )
At 30 September 2023 276,246 849,729 1,125,975
DEPRECIATION
At 1 October 2022 131,094 555,764 686,858
Charge for year 5,525 64,856 70,381
Eliminated on disposal - (6,234 ) (6,234 )
At 30 September 2023 136,619 614,386 751,005
NET BOOK VALUE
At 30 September 2023 139,627 235,343 374,970
At 30 September 2022 145,152 298,600 443,752

Wares Farm Limited (Registered number: 00563221)

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

4. TANGIBLE FIXED ASSETS - continued

Included in the above are assets held under hire purchase arrangements with a net book value of £106,191 (2022: £141,588). Of the depreciation charged in the profit and loss account, £35,397 relates to those assets.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 34,277
Other debtors 19,671 38,711
19,671 72,988

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 17,533 17,533
Trade creditors - 9,600
Taxation and social security 9,969 237
Other creditors 49,018 59,181
76,520 86,551

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 17,533

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 17,533 35,066

Liabilities due under hire purchase agreements are secured on the assets to which they relate.