REGISTERED NUMBER: |
Ansteys Of Worcester Limited |
Unaudited Financial Statements |
for the Period |
1 October 2022 to 31 March 2024 |
REGISTERED NUMBER: |
Ansteys Of Worcester Limited |
Unaudited Financial Statements |
for the Period |
1 October 2022 to 31 March 2024 |
Ansteys Of Worcester Limited (Registered number: 08905008) |
Contents of the Financial Statements |
for the Period 1 October 2022 to 31 March 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
Ansteys Of Worcester Limited |
Company Information |
for the Period 1 October 2022 to 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
trading as The Hutchinson Partnership |
Chartered Accountants |
The Bull Pen |
Grove Farm |
Portway, Burghill |
Hereford |
HR4 8NF |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Ansteys Of Worcester Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ansteys Of Worcester Limited for the period ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Ansteys Of Worcester Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ansteys Of Worcester Limited and state those matters that we have agreed to state to the Board of Directors of Ansteys Of Worcester Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ansteys Of Worcester Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Ansteys Of Worcester Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ansteys Of Worcester Limited. You consider that Ansteys Of Worcester Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Ansteys Of Worcester Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
trading as The Hutchinson Partnership |
Chartered Accountants |
The Bull Pen |
Grove Farm |
Portway, Burghill |
Hereford |
HR4 8NF |
Ansteys Of Worcester Limited (Registered number: 08905008) |
Balance Sheet |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Allotted, issued and fully paid share capital |
Revaluation reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
Ansteys Of Worcester Limited (Registered number: 08905008) |
Balance Sheet - continued |
31 March 2024 |
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 Board of Directors and authorised for issue on |
Ansteys Of Worcester Limited (Registered number: 08905008) |
Notes to the Financial Statements |
for the Period 1 October 2022 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Ansteys Of Worcester Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The balance sheet of the company shows net liabilities of £110,265 (2022 - £23,156) and net current liabilities of £342,442 (2022 - £188,994). Included within the creditors is a bank loan of £2,024,254 which was due for repayment in January 2023, this loan was renegotiated until March 2026. Included within other creditors are £352,957 (2022 - £244,659) of funds owed to a business controlled by the directors which are repayable on demand, but only if cash flows allow. The directors have agreed not to withdraw these funds or their loan accounts to the disadvantage of other stakeholders. The directors are confident that the company will operate profitably in future periods. |
On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. |
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. |
Basic Payment entitlements have been amortised evenly over their estimated useful life of three years to 31 May 2021. |
Tangible fixed assets |
No depreciation is provided on freehold property. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
The directors valued the investment property at 31 March 2024. |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
The company has the following biological assets within stock which are valued as follows: |
Crops in store - valued at their estimated cost with reference to current market values. |
Ansteys Of Worcester Limited (Registered number: 08905008) |
Notes to the Financial Statements - continued |
for the Period 1 October 2022 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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 |
The average number of employees during the period was NIL (2022 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 October 2022 |
and 31 March 2024 |
AMORTISATION |
At 1 October 2022 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 September 2022 |
Ansteys Of Worcester Limited (Registered number: 08905008) |
Notes to the Financial Statements - continued |
for the Period 1 October 2022 to 31 March 2024 |
5. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1 October 2022 |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 September 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2022 |
Revaluations | 40,000 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 September 2022 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2020 | 5,168 |
Valuation in 2021 | 40,000 |
Valuation in 2022 | 39,600 |
Valuation in 2024 | 40,000 |
Cost | 315,232 |
440,000 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Prepayments and accrued income | - | 750 |
VAT |
Deferred tax asset |
Ansteys Of Worcester Limited (Registered number: 08905008) |
Notes to the Financial Statements - continued |
for the Period 1 October 2022 to 31 March 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
Accruals and deferred income |
The balance of other creditors is an interest free loan from a related party. |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Directors' loan accounts | 470,059 | 483,738 |
The directors' loan accounts are interest free and the directors' have confirmed that they will not be withdrawn in preference to other creditors. |
10. | SECURED DEBTS |
The borrowings from Barclays are secured by a mortgage deed dated 5 January 2018 on the freehold property at Newlands Court, Malvern, on part of the property at Lower Broomhall Farm which is owned by the directors and a personal guarantee by the directors. |
11. | DEFERRED TAX |
£ |
Balance at 1 October 2022 | ( |
) |
Provided during period | ( |
) |
Balance at 31 March 2024 | ( |
) |