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
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Directors |
K D Hitchings |
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Mrs K E Hitchings |
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Mr H D Hitchings |
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Secretary |
Mr K Hitchings |
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Company number |
04280742 |
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Registered office |
The Old Chapel |
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Bishopstone |
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Salisbury |
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Wiltshire |
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SP5 4BT |
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Business address |
Slate House |
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Broad Chalke |
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Salisbury |
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Wiltshire |
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SP5 5HL |
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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
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
34,419 |
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38,901 |
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Investments |
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6 |
15 |
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15 |
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_______ |
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_______ |
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34,434 |
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38,916 |
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Current assets |
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Stocks |
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18,588 |
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15,990 |
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Debtors |
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76,898 |
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75,301 |
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Cash at bank and in hand |
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330,259 |
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322,357 |
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_______ |
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_______ |
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425,745 |
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413,648 |
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Creditors: amounts falling due |
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within one year |
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(
70,317) |
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(
99,317) |
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_______ |
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_______ |
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Net current assets |
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355,428 |
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314,331 |
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_______ |
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Total assets less current liabilities |
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389,862 |
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353,247 |
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_______ |
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Net assets |
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389,862 |
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353,247 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
Profit and loss account |
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389,762 |
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353,147 |
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_______ |
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Shareholders funds |
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389,862 |
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353,247 |
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_______ |
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_______ |
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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:
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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;
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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
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Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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At 1 September 2021 |
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100 |
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216,426 |
216,526 |
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Profit for the year |
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186,721 |
186,721 |
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_______ |
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_______ |
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Total comprehensive income for the year |
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186,721 |
186,721 |
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Dividends paid and payable |
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(
50,000) |
(
50,000) |
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_______ |
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_______ |
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Total investments by and distributions to owners |
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- |
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(
50,000) |
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50,000) |
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_______ |
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_______ |
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At 31 August 2022 and 1 September 2022 |
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100 |
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353,147 |
353,247 |
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Profit for the year |
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96,615 |
96,615 |
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_______ |
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_______ |
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Total comprehensive income for the year |
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96,615 |
96,615 |
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Dividends paid and payable |
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(
60,000) |
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60,000) |
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_______ |
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_______ |
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Total investments by and distributions to owners |
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- |
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(
60,000) |
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60,000) |
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_______ |
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At 31 August 2023 |
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100 |
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389,762 |
389,862 |
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_______ |
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_______ |
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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
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£ |
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Cost |
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At 1 September 2022 |
156,177 |
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Additions |
5,210 |
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_______ |
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At 31 August 2023 |
161,387 |
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_______ |
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Depreciation |
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At 1 September 2022 |
117,276 |
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Charge for the year |
9,692 |
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_______ |
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At 31 August 2023 |
126,968 |
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_______ |
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Carrying amount |
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At 31 August 2023 |
34,419 |
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_______ |
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At 31 August 2022 |
38,901 |
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_______ |
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6.
Investments
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£ |
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Cost |
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At 1 September 2022 and 31 August 2023 |
15 |
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_______ |
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Impairment |
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At 1 September 2022 and 31 August 2023 |
- |
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_______ |
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Carrying amount |
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At 31 August 2023 |
15 |
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_______ |
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At 31 August 2022 |
15 |
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_______ |
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7.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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K D Hitchings |
(
22,745) |
5,123 |
(
17,622) |
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_______ |
_______ |
_______ |
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2022 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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K D Hitchings |
(
25,484) |
2,739 |
(
22,745) |
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_______ |
_______ |
_______ |
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8.
Controlling party
The company is controlled by its directors.