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Company No: 00689574 (England and Wales)

W.F.B. PALMER & SON (ORGANFORD) LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

W.F.B. PALMER & SON (ORGANFORD) LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

W.F.B. PALMER & SON (ORGANFORD) LIMITED

BALANCE SHEET

As at 30 April 2024
W.F.B. PALMER & SON (ORGANFORD) LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 241,700 245,966
241,700 245,966
Current assets
Stocks 4 12,325 0
Cash at bank and in hand 8,788 9,509
21,113 9,509
Creditors: amounts falling due within one year 5 ( 57,019) ( 45,758)
Net current liabilities (35,906) (36,249)
Total assets less current liabilities 205,794 209,717
Net assets 205,794 209,717
Capital and reserves
Called-up share capital 6,300 6,300
Profit and loss account 199,494 203,417
Total shareholder's funds 205,794 209,717

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of W.F.B. Palmer & Son (Organford) Limited (registered number: 00689574) were approved and authorised for issue by the Board of Directors on 01 August 2024. They were signed on its behalf by:

D J Palmer
Director
W.F.B. PALMER & SON (ORGANFORD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
W.F.B. PALMER & SON (ORGANFORD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

W.F.B. Palmer & Son (Organford) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Organford Farmhouse, Organford, Poole, BH16 6EU, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Revenue from services is recognised as they are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 % reducing balance
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 May 2023 245,315 64,604 309,919
At 30 April 2024 245,315 64,604 309,919
Accumulated depreciation
At 01 May 2023 9,309 54,644 63,953
Charge for the financial year 1,776 2,490 4,266
At 30 April 2024 11,085 57,134 68,219
Net book value
At 30 April 2024 234,230 7,470 241,700
At 30 April 2023 236,006 9,960 245,966

4. Stocks

2024 2023
£ £
Livestock 12,325 0

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 287 418
Amounts owed to Parent undertakings 11,400 0
Other taxation and social security 938 946
Other creditors 44,394 44,394
57,019 45,758

6. Ultimate controlling party

Parent Company:

Farmer Palmers Farm Park Ltd