IRIS Accounts Production v24.1.0.578 05649064 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh056490642022-12-31056490642023-12-31056490642023-01-012023-12-31056490642021-12-31056490642022-01-012022-12-31056490642022-12-3105649064ns15:EnglandWales2023-01-012023-12-3105649064ns14:PoundSterling2023-01-012023-12-3105649064ns10:Director12023-01-012023-12-3105649064ns10:Director22023-01-012023-12-3105649064ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105649064ns10:SmallEntities2023-01-012023-12-3105649064ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105649064ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105649064ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105649064ns10:AbridgedAccounts2023-01-012023-12-310564906412023-01-012023-12-3105649064ns10:CompanySecretary12023-01-012023-12-3105649064ns10:RegisteredOffice2023-01-012023-12-3105649064ns5:CurrentFinancialInstruments2023-12-3105649064ns5:CurrentFinancialInstruments2022-12-3105649064ns5:Non-currentFinancialInstruments2023-12-3105649064ns5:Non-currentFinancialInstruments2022-12-3105649064ns5:ShareCapital2023-12-3105649064ns5:ShareCapital2022-12-3105649064ns5:RetainedEarningsAccumulatedLosses2023-12-3105649064ns5:RetainedEarningsAccumulatedLosses2022-12-3105649064ns5:LeaseholdImprovements2023-01-012023-12-3105649064ns5:FurnitureFittings2023-01-012023-12-3105649064ns5:MotorVehicles2023-01-012023-12-31
REGISTERED NUMBER: 05649064 (England and Wales)












WILLOUGHBY FOODS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






WILLOUGHBY FOODS LIMITED (REGISTERED NUMBER: 05649064)

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










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


WILLOUGHBY FOODS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs A R Ashton
S J Ashton





SECRETARY: S J Ashton





REGISTERED OFFICE: Willoughby Farm
Frampton Fen
Boston
Lincolnshire
PE20 1SF





REGISTERED NUMBER: 05649064 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe (Boston)
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

WILLOUGHBY FOODS LIMITED (REGISTERED NUMBER: 05649064)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 148,935 127,236
148,935 127,236

CURRENT ASSETS
Stocks 9,761 7,665
Debtors 83,377 46,295
Cash at bank and in hand 88,878 77,885
182,016 131,845
CREDITORS
Amounts falling due within one year 160,681 128,218
NET CURRENT ASSETS 21,335 3,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,270

130,863

CREDITORS
Amounts falling due after more than one
year

(50,180

)

(54,885

)

PROVISIONS FOR LIABILITIES (31,937 ) (23,642 )
NET ASSETS 88,153 52,336

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 88,053 52,236
SHAREHOLDERS' FUNDS 88,153 52,336

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

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

WILLOUGHBY FOODS LIMITED (REGISTERED NUMBER: 05649064)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 April 2024 and were signed on its behalf by:




Mrs A R Ashton - Director



S J Ashton - Director


WILLOUGHBY FOODS LIMITED (REGISTERED NUMBER: 05649064)

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


1. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Expenditure on leasehold property - Straight line over 5 years
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

WILLOUGHBY FOODS LIMITED (REGISTERED NUMBER: 05649064)

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


2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 20 ) .

3. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 5,000
AMORTISATION
At 1 January 2023
and 31 December 2023 5,000
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 601,393
Additions 64,733
At 31 December 2023 666,126
DEPRECIATION
At 1 January 2023 474,157
Charge for year 43,034
At 31 December 2023 517,191
NET BOOK VALUE
At 31 December 2023 148,935
At 31 December 2022 127,236

WILLOUGHBY FOODS LIMITED (REGISTERED NUMBER: 05649064)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023 76,060
Additions 25,250
Transfer to ownership (76,060 )
At 31 December 2023 25,250
DEPRECIATION
At 1 January 2023 42,398
Charge for year 14,758
Transfer to ownership (50,843 )
At 31 December 2023 6,313
NET BOOK VALUE
At 31 December 2023 18,937
At 31 December 2022 33,662

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 20,832 15,940