Company registration number 00301682 (England and Wales)
JOHN WELLER (FARMS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
JOHN WELLER (FARMS) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
JOHN WELLER (FARMS) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs M.D. Suckling
Mr R Suckling
Mr P J Medland
Dr J R Suckling
Mrs H L Young
Secretary
Ms A Ford
Company number
00301682
Registered office
Dunley Hill
Ranmore
Dorking
Surrey
RH5 6SX
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
JOHN WELLER (FARMS) LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
30 September 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,756
5,945
Investment properties
4
1,719,365
1,719,365
Investments
5
-
0
22,658
1,726,121
1,747,968
Current assets
Debtors
6
1,265
2,524
Cash at bank and in hand
395,042
349,279
396,307
351,803
Creditors: amounts falling due within one year
7
(123,819)
(133,264)
Net current assets
272,488
218,539
Total assets less current liabilities
1,998,609
1,966,507
Creditors: amounts falling due after more than one year
8
(65,777)
(71,990)
Provisions for liabilities
(156,991)
(161,519)
Net assets
1,775,841
1,732,998
Capital and reserves
Called up share capital
9
21,004
21,004
Fair value reserve
10
465,907
601,932
Capital redemption reserve
96,782
96,782
Profit and loss reserves
1,192,148
1,013,280
Total equity
1,775,841
1,732,998
JOHN WELLER (FARMS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023
30 September 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 March 2024 and are signed on its behalf by:
Mrs M.D. Suckling
Director
Company Registration No. 00301682
The notes on pages 4 to 9 form part of these financial statements
JOHN WELLER (FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
1
Accounting policies
Company information

John Weller (Farms) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dunley Hill, Ranmore, Dorking, Surrey, RH5 6SX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover represents amounts receivable from rental income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% straight line
Computers
33.3% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

JOHN WELLER (FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments

Investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately and are valued at market value.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

JOHN WELLER (FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
4
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2022
134,958
3,254
42,317
180,529
Additions
-
0
1,853
-
0
1,853
At 30 September 2023
134,958
5,107
42,317
182,382
Depreciation and impairment
At 1 October 2022
130,475
2,108
42,001
174,584
Depreciation charged in the year
653
390
-
0
1,043
At 30 September 2023
131,128
2,497
42,001
175,626
Carrying amount
At 30 September 2023
3,830
2,610
316
6,756
At 30 September 2022
4,483
1,146
316
5,945
JOHN WELLER (FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
4
Investment property
2023
£
Fair value
At 1 October 2022 and 30 September 2023
1,719,365

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 September 2023 by the directors on an open market basis.

5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
-
0
22,658
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2022
22,658
Valuation changes
(2,290)
Disposals
(20,368)
At 30 September 2023
-
Carrying amount
At 30 September 2023
-
At 30 September 2022
22,658
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
960
1,864
Other debtors
305
660
1,265
2,524
JOHN WELLER (FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
26,928
48,645
Trade creditors
1,885
1,632
Corporation tax
30,371
22,338
Other taxation and social security
9,226
6,626
Other creditors
55,409
54,023
123,819
133,264
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
65,777
71,990
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
A Ordinary of £1 each
7,038
10,502
7,038
10,502
B Ordinary of £1 each
10,502
10,502
10,502
10,502
17,540
21,004
17,540
21,004
2023
2022
2023
2022
Preference share capital
Number
Number
£
£
Issued and fully paid
of £1 each
3,464
-
3,464
-
Preference shares classified as equity
3,464
-
Total equity share capital
21,004
21,004

On 29 March 2023, 3,464 A ordinary shares were redesignated as 3,464 10% preference shares of £1 each.

JOHN WELLER (FARMS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 9 -
10
Fair value reserve
2023
2022
£
£
At the beginning of the year
601,932
638,355
Revaluation surplus arising in the year
(2,289)
2,505
Other movements
(133,736)
(38,928)
At the end of the year
465,907
601,932
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