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REGISTERED NUMBER: 08184155 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Wick Farm Contracting Limited

Wick Farm Contracting Limited (Registered number: 08184155)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Wick Farm Contracting Limited (Registered number: 08184155)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 41,850 55,800
Tangible assets 5 595,936 654,583
Investments 6 27,000 27,000
Herd 7 134,100 132,250
798,886 869,633

CURRENT ASSETS
Stocks 327,858 395,153
Debtors 8 195,971 81,942
Cash at bank 263,757 241,341
787,586 718,436
CREDITORS
Amounts falling due within one year 9 129,593 99,337
NET CURRENT ASSETS 657,993 619,099
TOTAL ASSETS LESS CURRENT LIABILITIES 1,456,879 1,488,732

CREDITORS
Amounts falling due after more than one year 10 (587,568 ) (650,064 )

PROVISIONS FOR LIABILITIES (120,199 ) (132,870 )
NET ASSETS 749,112 705,798

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 749,012 705,698
749,112 705,798

Wick Farm Contracting Limited (Registered number: 08184155)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 August 2024 and were signed by:





Mr W J Dickson - Director


Wick Farm Contracting Limited (Registered number: 08184155)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Wick Farm Contracting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08184155

Registered office: Oake House
Silver Street
West Buckland
Wellington
Somerset
TA21 9LR

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.

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.

BPS entitlements - straight line to 2027

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

Biological non current assets
Biological non current assets are valued at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided for, where the residual value is lower than cost, at the following annual rates in order to write off each asset over its estimated useful life.

Beef cows - 20% straight line
Beef bulls - 20% straight line

Stocks
Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with H M Revenue & Customs guidance HS232.

Wick Farm Contracting Limited (Registered number: 08184155)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
The company holds the following financial instruments:

Short term debtors and creditors;
Cash and bank balances; and
Unlisted investments.

All financial instruments are classified as basic.

Recognition and measurement
The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 5 (2023 - 5 ) .

Wick Farm Contracting Limited (Registered number: 08184155)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
BPS
entitlements
£   
COST
At 1 April 2023
and 31 March 2024 69,750
AMORTISATION
At 1 April 2023 13,950
Amortisation for year 13,950
At 31 March 2024 27,900
NET BOOK VALUE
At 31 March 2024 41,850
At 31 March 2023 55,800

5. TANGIBLE FIXED ASSETS
Tenants Plant and Fixed Motor
improvements machinery Plant vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 105,534 857,878 15,807 31,879 1,011,098
Additions - 42,423 - - 42,423
At 31 March 2024 105,534 900,301 15,807 31,879 1,053,521
DEPRECIATION
At 1 April 2023 10,553 335,597 790 9,575 356,515
Charge for year 11,452 84,210 791 4,617 101,070
At 31 March 2024 22,005 419,807 1,581 14,192 457,585
NET BOOK VALUE
At 31 March 2024 83,529 480,494 14,226 17,687 595,936
At 31 March 2023 94,981 522,281 15,017 22,304 654,583

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 27,000
NET BOOK VALUE
At 31 March 2024 27,000
At 31 March 2023 27,000

Wick Farm Contracting Limited (Registered number: 08184155)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. HERD
Herd
£   
COST
At 1 April 2023 132,850
Additions 11,000
Disposals (8,550 )
At 31 March 2024 135,300
DEPRECIATION
At 1 April 2023 600
Charge for year 600
At 31 March 2024 1,200
NET BOOK VALUE
At 31 March 2024 134,100
At 31 March 2023 132,250

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 176,988 50,857
Stable and Wick Capital Acc. 10,869 17,069
VAT - 8,967
Prepayments and accrued income 8,114 5,049
195,971 81,942

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 37,680 16,150
Trade creditors 37,150 52,341
Tax 39,441 23,976
Social security and other taxes - 2,460
VAT 6,114 -
Accruals and deferred income 9,208 4,410
129,593 99,337

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 59,200
Other creditors 587,568 590,864
587,568 650,064

Wick Farm Contracting Limited (Registered number: 08184155)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 37,680 -

Hire purchase agreements are secured on the assets to which they relate.