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REGISTERED NUMBER: 07926104 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Woodhey Dairy Limited

Woodhey Dairy Limited (Registered number: 07926104)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Woodhey Dairy Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P C Robinson
Mrs R M Robinson
M P Robinson





REGISTERED OFFICE: Woodhey Hall
Woodhey Hall Lane
Faddiley
Nantwich
Cheshire
CW5 8JH





REGISTERED NUMBER: 07926104 (England and Wales)





ACCOUNTANTS: Brightshire Accountants Ltd
First Floor
11 Mallard Court
Mallard Way
Crewe
Cheshire
CW1 6ZQ

Woodhey Dairy Limited (Registered number: 07926104)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Biological assets 4 2,260,360 2,171,123
Tangible assets 5 5,785,619 1,019,298
8,045,979 3,190,421

CURRENT ASSETS
Stocks 488,329 342,244
Debtors 6 466,766 464,272
Cash at bank 27,277 166,372
982,372 972,888
CREDITORS
Amounts falling due within one year 7 559,367 834,541
NET CURRENT ASSETS 423,005 138,347
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,468,984

3,328,768

CREDITORS
Amounts falling due after more than one
year

8

(6,072,728

)

(1,464,174

)

PROVISIONS FOR LIABILITIES (151,547 ) (154,885 )
NET ASSETS 2,244,709 1,709,709

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 2,244,679 1,709,679
2,244,709 1,709,709

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 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.

Woodhey Dairy Limited (Registered number: 07926104)

Balance Sheet - continued
31 March 2024


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 15 July 2024 and were signed on its behalf by:




M P Robinson - Director P C Robinson - Director




Mrs R M Robinson - Director


Woodhey Dairy Limited (Registered number: 07926104)

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


1. STATUTORY INFORMATION

Woodhey Dairy Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Changes in comparatives
The directors have considered the disclosure of certain items during the year and have decided that it is appropriate to amend the comparatives in places. There has been no impact on profit as amendments have affected the disclosures only.

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

Biological assets
Biological assets are recognised only when three recognition criteria have been fulfilled:
1) The entity has control over the asset as a result of past events;
2) It is probable that future economic benefits associated with the asset will flow to the entity; and
3) The fair value or cost of the asset can be measure reliably.
The company measures biological assets at cost less accumulated depreciation and accumulated impairment losses.
In respect of agricultural produce harvested from a biological asset, this is measured at the point of harvest at either the lower of cost and estimated selling price less costs to complete and sell; or fair value less costs to sell with any gain or loss arising on initial recognition of agricultural produce at fair value less costs to sell being include in the profit or loss.

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

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:

Freehold land and buildings no depreciation
Plant and equipment 20% on reducing balance and 5% on cost
Solar panels 25 years straight line

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

Woodhey Dairy Limited (Registered number: 07926104)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non- current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


Woodhey Dairy Limited (Registered number: 07926104)

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


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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 (2023 - 5 ) .

4. BIOLOGICAL ASSETS
Dairy
Herd
£   
COST
At 1 April 2023 2,171,123
Additions 89,237
At 31 March 2024 2,260,360
NET BOOK VALUE
At 31 March 2024 2,260,360
At 31 March 2023 2,171,123

Woodhey Dairy Limited (Registered number: 07926104)

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


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 155,705 1,732,323 1,888,028
Additions 4,793,831 139,565 4,933,396
At 31 March 2024 4,949,536 1,871,888 6,821,424
DEPRECIATION
At 1 April 2023 - 868,730 868,730
Charge for year - 167,075 167,075
At 31 March 2024 - 1,035,805 1,035,805
NET BOOK VALUE
At 31 March 2024 4,949,536 836,083 5,785,619
At 31 March 2023 155,705 863,593 1,019,298

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

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 196,450
DEPRECIATION
At 1 April 2023 81,949
Charge for year 22,900
At 31 March 2024 104,849
NET BOOK VALUE
At 31 March 2024 91,601
At 31 March 2023 114,501

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 432,726 437,550
Other debtors 34,040 26,722
466,766 464,272

Woodhey Dairy Limited (Registered number: 07926104)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 49,972 46,080
Hire purchase contracts 37,743 30,892
Trade creditors 438,954 384,043
Taxation and social security 28,012 63,193
Other creditors 4,686 310,333
559,367 834,541

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 6,049,775 1,393,389
Hire purchase contracts 22,953 70,785
6,072,728 1,464,174

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,808,905 1,157,529

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Bank loans 6,099,747 1,439,469
Hire purchase contracts 60,696 101,677
6,160,443 1,541,146

National Westminster Bank Plc have a fixed and floating charge over the assets of the Company.

On 25th October 2023, Oxbury Bank Plc took a fixed and floating charge over the assets of the Company following the purchase of Hollywell Farm, Wrexham Road, Faddiley, Nantwich.

Hire purchase is secured against the asset it relates to.

10. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the balance sheet is nil. (2023 £95,563). This is in relation to a farm business tenancy which finished in the year.