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REGISTERED NUMBER: 13893469 (England and Wales)















WELBY PASTURES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






WELBY PASTURES LIMITED (REGISTERED NUMBER: 13893469)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 4


WELBY PASTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mrs K J Gibson
W R Ward



REGISTERED OFFICE: Pasture Farm
Ermine Street
Welby
Grantham
Lincolnshire
NG32 3LU



REGISTERED NUMBER: 13893469 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA



BANKERS: Virgin Money
Clydesdale Bank Bft
Syminton House 8
North Avenue
Glasgow
G81 2NT

WELBY PASTURES LIMITED (REGISTERED NUMBER: 13893469)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,126,900 2,128,050

CURRENT ASSETS
Valuation 95,818 132,997
Debtors 5 86,474 5,848
Cash at bank 400,021 471,950
582,313 610,795
CREDITORS
Amounts falling due within one year 6 42,934 64,610
NET CURRENT ASSETS 539,379 546,185
TOTAL ASSETS LESS CURRENT LIABILITIES 2,666,279 2,674,235

CAPITAL AND RESERVES
Called up share capital 7 2,600,000 2,600,000
Retained earnings 66,279 74,235
SHAREHOLDERS' FUNDS 2,666,279 2,674,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 23 February 2024 and were signed on its behalf by:





Mrs K J Gibson - Director


WELBY PASTURES LIMITED (REGISTERED NUMBER: 13893469)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Welby Pastures 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 company's accounting reference date was shortened to 30 June 2022 to aline with the group filing requirements.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents divisible surplus income from contract farming.

Tangible fixed assets
Freehold Property is held at cost.


Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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 has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 financial position date.


WELBY PASTURES LIMITED (REGISTERED NUMBER: 13893469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 July 2022 2,128,050
Disposals (1,150 )
At 30 June 2023 2,126,900
NET BOOK VALUE
At 30 June 2023 2,126,900
At 30 June 2022 2,128,050

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 41,941 1,623
Tax 1,372 -
VAT 10,224 -
Prepayments and accrued income 32,937 4,225
86,474 5,848

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 30,028 9,759
Tax - 20,912
Other creditors - 27,939
Accruals and deferred income 12,906 6,000
42,934 64,610

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,600,000 A Ordinary £1 2,600,000 2,600,000