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REGISTERED NUMBER: 08410438 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

R C Woolliams & Son Limited

R C Woolliams & Son Limited (Registered number: 08410438)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


R C Woolliams & Son Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R C Woolliams
Mrs J Woolliams
J R Woolliams





REGISTERED OFFICE: Manor Farm
Brigg Road
Clixby
Market Rasen
Lincolnshire
LN7 6RT





REGISTERED NUMBER: 08410438 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
R C Woolliams & Son 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 Income Statement 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 R C Woolliams & Son Limited for the year ended 31 March 2023 which comprise the Income Statement, 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 R C Woolliams & Son 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 R C Woolliams & Son Limited and state those matters that we have agreed to state to the Board of Directors of R C Woolliams & Son 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 R C Woolliams & Son Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that R C Woolliams & Son 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 profit of R C Woolliams & Son Limited. You consider that R C Woolliams & Son 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 R C Woolliams & Son 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES


30 November 2023

R C Woolliams & Son Limited (Registered number: 08410438)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 478,969 493,804

CURRENT ASSETS
Stocks 157,859 116,446
Debtors 5 260,022 220,649
Cash at bank 24,803 -
442,684 337,095
CREDITORS
Amounts falling due within one year 6 322,046 253,469
NET CURRENT ASSETS 120,638 83,626
TOTAL ASSETS LESS CURRENT
LIABILITIES

599,607

577,430

CREDITORS
Amounts falling due after more than one
year

7

(131,647

)

(182,273

)

PROVISIONS FOR LIABILITIES (84,445 ) (37,918 )
NET ASSETS 383,515 357,239

CAPITAL AND RESERVES
Called up share capital 9 99 99
Retained earnings 383,416 357,140
SHAREHOLDERS' FUNDS 383,515 357,239

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 30 November 2023 and were signed on its behalf by:





R C Woolliams - Director


R C Woolliams & Son Limited (Registered number: 08410438)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

R C Woolliams & Son 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Farm improvements - 10% on reducing balance
Plant and machinery - 10% on reducing balance
Tractors - 10% on reducing balance

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

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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

R C Woolliams & Son Limited (Registered number: 08410438)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Farm Plant and
improvements machinery Tractors Totals
£    £    £    £   
COST
At 1 April 2022 68,559 469,457 230,000 768,016
Additions - 36,000 - 36,000
At 31 March 2023 68,559 505,457 230,000 804,016
DEPRECIATION
At 1 April 2022 35,372 209,031 29,809 274,212
Charge for year 3,319 27,497 20,019 50,835
At 31 March 2023 38,691 236,528 49,828 325,047
NET BOOK VALUE
At 31 March 2023 29,868 268,929 180,172 478,969
At 31 March 2022 33,187 260,426 200,191 493,804

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 72,676 57,342
Other debtors 187,346 163,307
260,022 220,649

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 233,010 110,593
Hire purchase contracts 29,048 41,548
Trade creditors 5,911 6,318
Taxation and social security 28,956 43,359
Other creditors 25,121 51,651
322,046 253,469

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 131,647 153,225
Hire purchase contracts - 29,048
131,647 182,273

R C Woolliams & Son Limited (Registered number: 08410438)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 364,657 222,115
Hire purchase contracts 29,048 70,596
393,705 292,711

Hire purchase contracts totalling £29,048 (2022: £70,596) are secured by the assets that they relate to.

Banks loans totalling £364,657 (2022: £222,115) have a fixed charge and floating charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
NIL Ordinary £1 - 99
66 A Ordinary £1 66 -
33 B Ordinary £1 33 -
99 99

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mrs J Woolliams
Balance outstanding at start of year (2,999 ) 5,846
Amounts advanced 37,835 41,155
Amounts repaid (35,344 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (508 ) (2,999 )

J R Woolliams
Balance outstanding at start of year (620 ) 185,747
Amounts advanced 6,557 23,633
Amounts repaid (7,344 ) (210,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,407 ) (620 )