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Registration number: 04726620

A R Worboys Limited

Unaudited Financial Statements

for the Year Ended 30 March 2024

 

A R Worboys Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

A R Worboys Limited

Company Information

Director

Mr Andrew Worboys

Registered office

Manor Farm
Lower Caldecote
Biggleswade
Bedfordshire
SG18 9BB

 

A R Worboys Limited

(Registration number: 04726620)
Balance Sheet as at 30 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

87,325

203,196

Current assets

 

Debtors

7

234,970

168,270

Cash at bank and in hand

 

9,962

99,455

 

244,932

267,725

Creditors: Amounts falling due within one year

8

(215,908)

(211,072)

Net current assets

 

29,024

56,653

Total assets less current liabilities

 

116,349

259,849

Creditors: Amounts falling due after more than one year

8

(15,593)

(88,829)

Provisions for liabilities

(20,026)

(38,608)

Net assets

 

80,730

132,412

Capital and reserves

 

Called up share capital

100

100

Share premium reserve

53,037

53,037

Retained earnings

27,593

79,275

Shareholders' funds

 

80,730

132,412

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 September 2024
 

 

A R Worboys Limited

(Registration number: 04726620)
Balance Sheet as at 30 March 2024

.........................................
Mr Andrew Worboys
Director

 

A R Worboys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Manor Farm
Lower Caldecote
Biggleswade
Bedfordshire
SG18 9BB

These financial statements were authorised for issue by the director on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

A R Worboys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, Fittings & Equipment

15% Reducing Balance

Plant & Machinery

15% Reducing Balance

Motor Vehicles

15% Reducing Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 Years

Trade debtors

Trade debtors are amounts due from customers for goods sold in the ordinary course of business.

Trade debtors are recognised at the transaction price.

 

A R Worboys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

Stocks

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

A R Worboys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

A R Worboys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 31 March 2023

34,615

34,615

At 30 March 2024

34,615

34,615

Amortisation

At 31 March 2023

34,615

34,615

At 30 March 2024

34,615

34,615

Carrying amount

At 30 March 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 31 March 2023

3,438

70,634

195,029

269,101

Additions

-

33,417

435

33,852

Disposals

-

(30,634)

(141,800)

(172,434)

At 30 March 2024

3,438

73,417

53,664

130,519

Depreciation

At 31 March 2023

2,782

15,586

47,537

65,905

Charge for the year

98

8,425

5,431

13,954

Eliminated on disposal

-

(6,548)

(30,117)

(36,665)

At 30 March 2024

2,880

17,463

22,851

43,194

Carrying amount

At 30 March 2024

558

55,954

30,813

87,325

At 30 March 2023

656

55,048

147,492

203,196


Hire purchase agreements

Included within the net book value of £87,325 is £28,162 (2022: £149,713) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounts to £5,661 (2022: £25,917).

 

A R Worboys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

6

Stocks

2024
£

2023
£

7

Debtors

Current

2024
£

2023
£

Trade debtors

4,182

6,428

Prepayments

15,881

169

Other debtors

214,907

161,673

 

234,970

168,270

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,022

33,513

Trade creditors

 

15,480

4,680

Taxation and social security

 

14,859

11,604

Accruals and deferred income

 

2,360

2,360

Other creditors

 

173,187

158,915

 

215,908

211,072

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £10,022 (2023 - £33,513).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

15,593

88,829

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £15,593 (2023 - £88,829).

 

A R Worboys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100

         

10

Related party transactions

At the balance sheet date, the company owe £638 (2023: £468) to A Worboys. There are no terms of repayment or interest on this loan.
At the balance sheet date, the company owed £172,446 (2023: £nil) to A 1 Straw Supplies Ltd, where A Worboys is the director. There are no terms of interest due to it being normal commercial terms.

11

Ultimate controlling party

The ultimate controlling party is Andrew Worboys, by virtue of his shareholding.