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REGISTERED NUMBER: 07466150 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Western Farm Services (Knighton) Ltd

Western Farm Services (Knighton) Ltd (Registered number: 07466150)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Western Farm Services (Knighton) Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: RL Wilding
I D Mills





SECRETARY: I D Mills





REGISTERED OFFICE: Office 10
Broadaxe Business Park
Presteigne
Powys
LD8 2UH





REGISTERED NUMBER: 07466150 (England and Wales)





ACCOUNTANTS: Housego Accountancy & Taxation
Office 10
Broadaxe Business Park
Presteigne
Powys
LD8 2UH

Western Farm Services (Knighton) Ltd (Registered number: 07466150)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 29,006 29,006
29,006 29,006

CURRENT ASSETS
Stocks 785,000 794,810
Debtors 6 159,432 159,432
Cash in hand 322 322
944,754 954,564
CREDITORS
Amounts falling due within one year 7 321,437 325,958
NET CURRENT ASSETS 623,317 628,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

652,323

657,612

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 651,323 656,612
652,323 657,612

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

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

Western Farm Services (Knighton) Ltd (Registered number: 07466150)

Balance Sheet - continued
31 October 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 29 July 2024 and were signed on its behalf by:




I D Mills - Director



RL Wilding - Director


Western Farm Services (Knighton) Ltd (Registered number: 07466150)

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

1. STATUTORY INFORMATION

Western Farm Services (Knighton) Ltd 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery 20% on a reducing balance basis
Motor vehicles 25% on a reducing balance basis
Fixtures & fittings 20% on a reducing balance basis
Office equipment 20% on a reducing balance basis
Improvements to property 10% on a reducing balance basis

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.


Western Farm Services (Knighton) Ltd (Registered number: 07466150)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 60,000
AMORTISATION
At 1 November 2022
and 31 October 2023 60,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022
and 31 October 2023 12,472 39,111 14,010
DEPRECIATION
At 1 November 2022
and 31 October 2023 7,515 34,091 12,137
NET BOOK VALUE
At 31 October 2023 4,957 5,020 1,873
At 31 October 2022 4,957 5,020 1,873

Western Farm Services (Knighton) Ltd (Registered number: 07466150)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 25,675 8,121 99,389
DEPRECIATION
At 1 November 2022
and 31 October 2023 10,541 6,099 70,383
NET BOOK VALUE
At 31 October 2023 15,134 2,022 29,006
At 31 October 2022 15,134 2,022 29,006

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 159,432 159,432

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 27,697 27,698
Trade creditors 30,329 34,850
Taxation and social security 49,094 49,094
Other creditors 214,317 214,316
321,437 325,958