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Company registration number: 04280742
Chalke Valley Watercress Ltd
Unaudited filleted abridged financial statements
31 August 2023
Chalke Valley Watercress Ltd
Contents
Directors and other information
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Chalke Valley Watercress Ltd
Directors and other information
Directors K D Hitchings
Mrs K E Hitchings
Mr H D Hitchings
Secretary Mr K Hitchings
Company number 04280742
Registered office The Old Chapel
Bishopstone
Salisbury
Wiltshire
SP5 4BT
Business address Slate House
Broad Chalke
Salisbury
Wiltshire
SP5 5HL
Chalke Valley Watercress Ltd
Accountants' report on the unaudited financial statements to the directors of
Chalke Valley Watercress Ltd
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2023 set out on pages to 8 and you consider that the company is exempt from an audit. In accordance with your instructions we have compiled these unaudited financial statements, in order to assist you to fulfil your statutory responsibilities, from the accounting records and information supplied to us.
Our report is prepared solely for the use of Chalke Valley Watercress Ltd and solely for the purpose of meeting their statutory accounts filing obligations and calculation of their tax liability.
Atkinsons (Bishopstone) Ltd
Chartered Accountants
The Old Chapel
Bishopstone
Salisbury
SP5 4BT
Date:
Chalke Valley Watercress Ltd
Abridged statement of financial position
31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 34,419 38,901
Investments 6 15 15
_______ _______
34,434 38,916
Current assets
Stocks 18,588 15,990
Debtors 76,898 75,301
Cash at bank and in hand 330,259 322,357
_______ _______
425,745 413,648
Creditors: amounts falling due
within one year ( 70,317) ( 99,317)
_______ _______
Net current assets 355,428 314,331
_______ _______
Total assets less current liabilities 389,862 353,247
_______ _______
Net assets 389,862 353,247
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 389,762 353,147
_______ _______
Shareholders funds 389,862 353,247
_______ _______
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 22 March 2024 , and are signed on behalf of the board by:
K D Hitchings
Director
Company registration number: 04280742
Chalke Valley Watercress Ltd
Statement of changes in equity
Year ended 31 August 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2021 100 216,426 216,526
Profit for the year 186,721 186,721
_______ _______ _______
Total comprehensive income for the year - 186,721 186,721
Dividends paid and payable ( 50,000) ( 50,000)
_______ _______ _______
Total investments by and distributions to owners - ( 50,000) ( 50,000)
_______ _______ _______
At 31 August 2022 and 1 September 2022 100 353,147 353,247
Profit for the year 96,615 96,615
_______ _______ _______
Total comprehensive income for the year - 96,615 96,615
Dividends paid and payable ( 60,000) ( 60,000)
_______ _______ _______
Total investments by and distributions to owners - ( 60,000) ( 60,000)
_______ _______ _______
At 31 August 2023 100 389,762 389,862
_______ _______ _______
Chalke Valley Watercress Ltd
Notes to the financial statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Chapel, Bishopstone, Salisbury, Wiltshire, SP5 4BT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery 20 %
Motor vehicles 25 %
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2022: 15 ).
5. Tangible assets
£
Cost
At 1 September 2022 156,177
Additions 5,210
_______
At 31 August 2023 161,387
_______
Depreciation
At 1 September 2022 117,276
Charge for the year 9,692
_______
At 31 August 2023 126,968
_______
Carrying amount
At 31 August 2023 34,419
_______
At 31 August 2022 38,901
_______
6. Investments
£
Cost
At 1 September 2022 and 31 August 2023 15
_______
Impairment
At 1 September 2022 and 31 August 2023 -
_______
Carrying amount
At 31 August 2023 15
_______
At 31 August 2022 15
_______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
K D Hitchings ( 22,745) 5,123 ( 17,622)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
K D Hitchings ( 25,484) 2,739 ( 22,745)
_______ _______ _______
8. Controlling party
The company is controlled by its directors.