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REGISTERED NUMBER: 00356859 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

WHIPLEY MANOR FARM LIMITED

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


WHIPLEY MANOR FARM LIMITED

Company Information
for the Year Ended 31 May 2023







DIRECTORS: A S Elliott
W D S Elliott





SECRETARY: L M S Fahy





REGISTERED OFFICE: Whipley Manor Farm
Palmers Cross
Bramley
Guildford
Surrey
GU5 0LL





REGISTERED NUMBER: 00356859 (England and Wales)





ACCOUNTANTS: Knox Cropper LLP
Chartered Accountants
Office Suite 1
Haslemere House
Lower Street
Haslemere
Surrey
GU27 2PE

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 868,487 836,667
Investments 5 7,000 7,000
Investment property 6 2,070,000 2,070,000
2,945,487 2,913,667

CURRENT ASSETS
Stocks 7 245,150 234,923
Debtors 8 18,080 5,826
Prepayments and accrued income 167,187 90,382
Cash at bank and in hand 153,838 137,896
584,255 469,027
CREDITORS
Amounts falling due within one year 9 513,096 453,625
NET CURRENT ASSETS 71,159 15,402
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,016,646

2,929,069

CREDITORS
Amounts falling due after more than one
year

10

(1,617,018

)

(1,699,696

)

PROVISIONS FOR LIABILITIES (212,599 ) (172,034 )
NET ASSETS 1,187,029 1,057,339

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,186,929 1,057,239
SHAREHOLDERS' FUNDS 1,187,029 1,057,339

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.

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2024 and were signed on its behalf by:





A S Elliott - Director


WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


1. STATUTORY INFORMATION

Whipley Manor 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 (£).


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The estimates and assumptions which have the most significant effect on amounts recognised in the financial statements are as follows:

Useful lives of depreciable assets

Management reviews its estimate of the useful lives of depreciable assets at each reporting date based on the expected utility of the assets. Uncertainties in these estimates relate to 'technological obsolescence' and any changes to the condition of motor vehicles and other plant and machinery. The accumulated depreciation at 31 May 2023 amounted to £320,509

Turnover
Turnover represents invoiced sales of goods and services. Turnover is recognised at the date that the service is provided. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Improvements to property2.5% reducing balance
Plant and machinery15% reducing balance and 25% straight line
Tractors15% reducing balance
Motor vehicles25% reducing balance


Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


2. ACCOUNTING POLICIES - continued

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.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 June 2022 429,105 475,372 100,414
Additions - 17,750 50,657
Disposals - - (6,700 )
At 31 May 2023 429,105 493,122 144,371
DEPRECIATION
At 1 June 2022 - 130,461 67,884
Charge for year - 11,653 12,868
Eliminated on disposal - - (1,005 )
At 31 May 2023 - 142,114 79,747
NET BOOK VALUE
At 31 May 2023 429,105 351,008 64,624
At 31 May 2022 429,105 344,911 32,530

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


4. TANGIBLE FIXED ASSETS - continued

Motor
Tractors vehicles Totals
£    £    £   
COST
At 1 June 2022 79,150 43,692 1,127,733
Additions - - 68,407
Disposals - - (6,700 )
At 31 May 2023 79,150 43,692 1,189,440
DEPRECIATION
At 1 June 2022 67,556 25,165 291,066
Charge for year 1,739 4,632 30,892
Eliminated on disposal - - (1,005 )
At 31 May 2023 69,295 29,797 320,953
NET BOOK VALUE
At 31 May 2023 9,855 13,895 868,487
At 31 May 2022 11,594 18,527 836,667

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2022
and 31 May 2023 7,000
NET BOOK VALUE
At 31 May 2023 7,000
At 31 May 2022 7,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 2,070,000
NET BOOK VALUE
At 31 May 2023 2,070,000
At 31 May 2022 2,070,000

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


6. INVESTMENT PROPERTY - continued

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2019 121,623
Valuation in 2021 237,365
Valuation in 2022 220,014
Cost 1,490,998
2,070,000

Investment property was valued on an open market basis on 31 May 2022 by the directors .

7. STOCKS
2023 2022
£    £   
Animal feed & stores 245,150 234,923

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,080 4,576
Other debtors - 1,250
18,080 5,826

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 76,647 83,162
Hire purchase contracts 13,875 -
Trade creditors 218,595 181,993
Taxation and social security 39,473 19,421
Other creditors 164,506 169,049
513,096 453,625

Included in Other creditors at the year end date was £50,952 (2022: £50,952) owed to A S Elliott director of the company . The loan is interest free and there are no fixed terms for repayment.

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,617,018 1,699,696

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 1,252,313 1,349,848

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,693,665 1,782,858

The National Westminster bank has a legal charge against 240 acres of land at Whipley Manor Farm and a debenture against Whipley Manor Farm Limited.

12. OTHER FINANCIAL COMMITMENTS

The total amount of commitments at the year end date not provided in the balance sheet amounted to £Nil (2022: £1,920).

13. RELATED PARTY DISCLOSURES

The company leases farmland and properties from a bare trust whose beneficiaries include A S Elliott ,
a director of the company during the year. The leasing charges are made on normal commercial
terms, and amounted to £63,100 (2022: £63,100) during the year under review.

14. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.