Silverfin false false 31/03/2024 01/05/2023 31/03/2024 Diana Margaret Webber 15/02/2008 William Ernest Paul Webber 15/02/2008 12 September 2024 The principal activity of the Company is that of farming. SC337950 2024-03-31 SC337950 bus:Director1 2024-03-31 SC337950 bus:Director2 2024-03-31 SC337950 2023-04-30 SC337950 core:CurrentFinancialInstruments 2024-03-31 SC337950 core:CurrentFinancialInstruments 2023-04-30 SC337950 core:ShareCapital 2024-03-31 SC337950 core:ShareCapital 2023-04-30 SC337950 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC337950 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC337950 core:PlantMachinery 2023-04-30 SC337950 core:Vehicles 2023-04-30 SC337950 core:PlantMachinery 2024-03-31 SC337950 core:Vehicles 2024-03-31 SC337950 6 2024-03-31 SC337950 6 2023-04-30 SC337950 bus:OrdinaryShareClass1 2024-03-31 SC337950 2023-05-01 2024-03-31 SC337950 bus:FilletedAccounts 2023-05-01 2024-03-31 SC337950 bus:SmallEntities 2023-05-01 2024-03-31 SC337950 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-03-31 SC337950 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-03-31 SC337950 bus:Director1 2023-05-01 2024-03-31 SC337950 bus:Director2 2023-05-01 2024-03-31 SC337950 core:PlantMachinery 2023-05-01 2024-03-31 SC337950 core:Vehicles 2023-05-01 2024-03-31 SC337950 2022-05-01 2023-04-30 SC337950 bus:OrdinaryShareClass1 2023-05-01 2024-03-31 SC337950 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC337950 (Scotland)

WEBBER FARMING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 MAY 2023 TO 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

WEBBER FARMING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MAY 2023 TO 31 MARCH 2024

Contents

WEBBER FARMING LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
WEBBER FARMING LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 31.03.2024 30.04.2023
£ £
Fixed assets
Tangible assets 3 120,741 156,637
120,741 156,637
Current assets
Stocks 4 138,472 154,526
Debtors 5 43,911 442,316
Cash at bank and in hand 349,743 354,351
532,126 951,193
Creditors: amounts falling due within one year 6 ( 83,832) ( 508,181)
Net current assets 448,294 443,012
Total assets less current liabilities 569,035 599,649
Provision for liabilities ( 5,526) ( 9,619)
Net assets 563,509 590,030
Capital and reserves
Called-up share capital 7 200 200
Profit and loss account 563,309 589,830
Total shareholders' funds 563,509 590,030

For the financial period ending 31 March 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 Webber Farming Limited (registered number: SC337950) were approved and authorised for issue by the Board of Directors on 12 September 2024. They were signed on its behalf by:

William Ernest Paul Webber
Director
WEBBER FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MAY 2023 TO 31 MARCH 2024
WEBBER FARMING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MAY 2023 TO 31 MARCH 2024
1. Accounting policies

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

General information and basis of accounting

Webber Farming Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Tyrie Mains, Tyrie, Fraserburgh, AB43 7BY, United Kingdom.

The financial statements have been prepared under the historical cost convention 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.

Reporting period length

The financial statements are prepared for a period of 11 months (2023 - 12 months) and therefore prior year amounts presented in the financial statements are not entirely comparable.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised at the point of invoice.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

Plant and machinery 25 % reducing balance
Vehicles 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
01.05.2023 to
31.03.2024
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 4 4

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 May 2023 109,028 236,100 345,128
At 31 March 2024 109,028 236,100 345,128
Accumulated depreciation
At 01 May 2023 25,752 162,739 188,491
Charge for the financial period 19,084 16,812 35,896
At 31 March 2024 44,836 179,551 224,387
Net book value
At 31 March 2024 64,192 56,549 120,741
At 30 April 2023 83,276 73,361 156,637

4. Stocks

31.03.2024 30.04.2023
£ £
Crops 101,391 129,798
Other stock 37,081 24,728
138,472 154,526

5. Debtors

31.03.2024 30.04.2023
£ £
Corporation tax 3,476 0
Other debtors 40,435 442,316
43,911 442,316

6. Creditors: amounts falling due within one year

31.03.2024 30.04.2023
£ £
Trade creditors 13,988 42,593
Taxation and social security 0 43,616
Other creditors 69,844 421,972
83,832 508,181

7. Called-up share capital

31.03.2024 30.04.2023
£ £
Allotted, called-up and fully-paid
200 A ordinary shares of £ 1.00 each 200 200

8. Related party transactions

The company entered into transactions for services with a business under common control. During the year, services purchased amounted to £105,517 (2023- £88,465).

At 30 April 2024 the company was due £65,433 to the related party (2023- £38,550).