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REGISTERED NUMBER: 04053632 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Wayland Produce Limited

Wayland Produce Limited (Registered number: 04053632)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wayland Produce Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: Mr I R Thurtle





SECRETARY: Mrs J Thurtle





REGISTERED OFFICE: Woodcock House
Woodcock Road
East Wretham
Thetford
Norfolk
IP24 1SE





REGISTERED NUMBER: 04053632 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

Wayland Produce Limited (Registered number: 04053632)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 453 679
Investment property 5 615,000 615,000
615,453 615,679

CURRENT ASSETS
Debtors 6 12,500 9,500
Cash at bank 3,615 1,688
16,115 11,188
CREDITORS
Amounts falling due within one year 7 6,328 6,272
NET CURRENT ASSETS 9,787 4,916
TOTAL ASSETS LESS CURRENT
LIABILITIES

625,240

620,595

CREDITORS
Amounts falling due after more than one
year

8

(188,959

)

(190,764

)

PROVISIONS FOR LIABILITIES 11 (24,008 ) (24,008 )
NET ASSETS 412,273 405,823

CAPITAL AND RESERVES
Called up share capital 502 502
Retained earnings 12 411,771 405,321
SHAREHOLDERS' FUNDS 412,273 405,823

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Wayland Produce Limited (Registered number: 04053632)

Balance Sheet - continued
30 September 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 director and authorised for issue on 12 February 2024 and were signed by:





Mr I R Thurtle - Director


Wayland Produce Limited (Registered number: 04053632)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Wayland Produce 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 as modified by the revaluation of certain assets.

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 - at varying rates on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Wayland Produce Limited (Registered number: 04053632)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 1,204 1,299 1,037 3,540
DEPRECIATION
At 1 October 2022 525 1,299 1,037 2,861
Charge for year 226 - - 226
At 30 September 2023 751 1,299 1,037 3,087
NET BOOK VALUE
At 30 September 2023 453 - - 453
At 30 September 2022 679 - - 679

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 615,000
NET BOOK VALUE
At 30 September 2023 615,000
At 30 September 2022 615,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2023 185,053
Cost 429,947
615,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 429,947 429,947
Aggregate depreciation (113,938 ) (113,938 )

Investment property was valued on an open market basis on 30 September 2023 by the Director .

Wayland Produce Limited (Registered number: 04053632)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. INVESTMENT PROPERTY - continued

For the year ended 30 September 2023 the Director reviewed the valuation of the investment properties on an open market basis and was of the opinion that no further adjustment was required to the value of £615,000.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
A&K Thurtle Ltd 12,500 9,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 2,004 2,052
Trade creditors - 600
VAT 1,046 342
Directors' current accounts 648 648
Accrued expenses 2,630 2,630
6,328 6,272

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 3,292 5,097
Other loans (see note 9) 185,667 185,667
188,959 190,764

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 185,667 185,667

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,004 2,052

Amounts falling due between one and two years:
Bank loans - 1-2 years 2,004 2,052

Wayland Produce Limited (Registered number: 04053632)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

9. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,288 3,045

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 185,667 185,667

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 5,296 7,149
Other loans 185,667 185,667
190,963 192,816

The Mortgage is secured by the Shareholders secured personal guarantees.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 24,008 24,008

Deferred
tax
£   
Balance at 1 October 2022 24,008
Balance at 30 September 2023 24,008

12. RESERVES

Retained earnings



Distributable
Non -
Distributable

Total
£   £   £   
Retained earnings at 1 October 2022244,276161,045405,321
Profit for the year6,450-6,450
Dividends---
Retained earnings at 30 September 2023250,726161,045411,771

Wayland Produce Limited (Registered number: 04053632)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Mr I R Thurtle
Balance outstanding at start of year - 15,352
Amounts repaid - (15,352 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -