IRIS Accounts Production v23.3.1.45 00363475 Board of Directors Board of Directors Board of Directors Board of Directors Board of Directors 1.6.22 31.5.23 31.5.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh003634752022-05-31003634752023-05-31003634752022-06-012023-05-31003634752021-05-31003634752021-06-012022-05-31003634752022-05-3100363475ns10:Originalns15:EnglandWales2022-06-012023-05-3100363475ns14:PoundSterlingns10:Original2022-06-012023-05-3100363475ns10:Originalns10:Director12022-06-012023-05-3100363475ns10:Original2022-06-012023-05-3100363475ns10:Originalns10:Director22022-06-012023-05-3100363475ns10:Originalns10:Director32022-06-012023-05-3100363475ns10:Originalns10:Director42022-06-012023-05-3100363475ns10:Originalns10:Director52022-06-012023-05-3100363475ns10:Original2023-05-3100363475ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3100363475ns10:Originalns10:SmallEntities2022-06-012023-05-3100363475ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3100363475ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3100363475ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3100363475ns10:Originalns10:FullAccounts2022-06-012023-05-3100363475ns10:CompanySecretary1ns10:Original2022-06-012023-05-3100363475ns10:Originalns10:RegisteredOffice2022-06-012023-05-3100363475ns10:Original2022-05-3100363475ns10:Originalns5:CurrentFinancialInstruments2023-05-3100363475ns10:Originalns5:CurrentFinancialInstruments2022-05-3100363475ns5:ShareCapitalns10:Original2023-05-3100363475ns5:ShareCapitalns10:Original2022-05-3100363475ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3100363475ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3100363475ns10:Originalns5:PlantMachinery2022-06-012023-05-3100363475ns10:Originalns5:ComputerEquipment2022-06-012023-05-3100363475ns10:Original2021-06-012022-05-3100363475ns10:Originalns5:PlantMachinery2022-05-3100363475ns10:Originalns5:ComputerEquipment2022-05-3100363475ns10:Original2022-05-3100363475ns10:Originalns5:PlantMachinery2023-05-3100363475ns10:Originalns5:ComputerEquipment2023-05-3100363475ns10:Originalns5:PlantMachinery2022-05-3100363475ns10:Originalns5:ComputerEquipment2022-05-3100363475ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3100363475ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-31
REGISTERED NUMBER: 00363475 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

ABBOTT & COMPANY (WESSEX) LIMITED

ABBOTT & COMPANY (WESSEX) LIMITED (REGISTERED NUMBER: 00363475)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABBOTT & COMPANY (WESSEX) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: S Dee Shapland
D F Crockford
I C Pearman
J D Givons
T C Pitts





SECRETARY: D F Crockford





REGISTERED OFFICE: Abberley House
Park Street
Cirencester
Gloucestershire
GL7 2BX





REGISTERED NUMBER: 00363475 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

ABBOTT & COMPANY (WESSEX) LIMITED (REGISTERED NUMBER: 00363475)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 599 868

CURRENT ASSETS
Stocks 76,156 49,569
Debtors 5 364,474 399,633
Cash at bank and in hand 32,555 28,646
473,185 477,848
CREDITORS
Amounts falling due within one year 6 379,248 384,229
NET CURRENT ASSETS 93,937 93,619
TOTAL ASSETS LESS CURRENT
LIABILITIES

94,536

94,487

PROVISIONS FOR LIABILITIES 150 165
NET ASSETS 94,386 94,322

CAPITAL AND RESERVES
Called up share capital 40,750 40,750
Retained earnings 53,636 53,572
SHAREHOLDERS' FUNDS 94,386 94,322

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ABBOTT & COMPANY (WESSEX) LIMITED (REGISTERED NUMBER: 00363475)

BALANCE SHEET - continued
31 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2024 and were signed on its behalf by:




D F Crockford - Director S Dee Shapland - Director




I C Pearman - Director J D Givons - Director




T C Pitts - Director


ABBOTT & COMPANY (WESSEX) LIMITED (REGISTERED NUMBER: 00363475)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Abbott & Company (Wessex) 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 (£).


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.

These financial statements comply with FRS 102 Section 1A.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, and after trade discounts. Revenue is recognised on provision of goods or services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 50% on cost and 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stock represents any forward purchase of any traded commodity held in stock against future sales. It also includes prepayments made in respect of expenses incurred against crops the company subsequently intend to procure at harvest time. Where the yield from the harvest is not known with any certainty no profit is recognised on the sale under the rules of SSAP 9.

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

ABBOTT & COMPANY (WESSEX) LIMITED (REGISTERED NUMBER: 00363475)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued

Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a
going concern have been identified by the directors.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 44,944 50,846 95,790
DEPRECIATION
At 1 June 2022 44,731 50,191 94,922
Charge for year 53 216 269
At 31 May 2023 44,784 50,407 95,191
NET BOOK VALUE
At 31 May 2023 160 439 599
At 31 May 2022 213 655 868

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 336,664 344,116
Other debtors - 14,364
VAT 9,513 15,912
Prepayments 18,297 25,241
364,474 399,633

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 11
Trade creditors 302,744 329,809
Corporation Tax 9,717 9,380
Social security and other taxes - (594 )
Accrued expenses 66,787 45,623
379,248 384,229

ABBOTT & COMPANY (WESSEX) LIMITED (REGISTERED NUMBER: 00363475)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr D F Crockford has a Personal Guarantee in place with the company's bankers to the value of £50,000 by way of security against the company's bank facility.

8. RELATED PARTY DISCLOSURES

The directors of the company act as agents for the company on the same commercial basis as the other agents. Transactions with directors for the financial year are as follows:

D F Crockford - 2023: £33,303 (2022: £26,976)
S Dee Shapland - 2023: £58,734 (2022: £70,977)
J D Givons - 2023: £226,105 (2022: £233,086) - paid via J D Givons Ltd, a company in which J D Givons is a director & shareholder
I C Pearman - 2023: £119,971 (2022: £109,834) - paid via I C Pearman Ltd, a company in which I C Pearman is a director & shareholder