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REGISTERED NUMBER: 04322435 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WOBURN COUNTRY FOODS LIMITED

WOBURN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 04322435)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


WOBURN COUNTRY FOODS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr R B H Davies
Mr E A Davies
Miss H M Davies





SECRETARY: Mr E A Davies





REGISTERED OFFICE: 2 Manor Farm Court Old Wolverton Road Ol
Milton Keynes
Buckinghamshire
MK12 5NN





REGISTERED NUMBER: 04322435 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WOBURN COUNTRY FOODS 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 Statement of Financial Position. Readers are cautioned that the Income Statement 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 Woburn Country Foods Limited for the year ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Woburn Country Foods 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 Woburn Country Foods Limited and state those matters that we have agreed to state to the Board of Directors of Woburn Country Foods Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Woburn Country Foods 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 Woburn Country Foods Limited. You consider that Woburn Country Foods Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Woburn Country Foods 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.






Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN


16 October 2024

WOBURN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 04322435)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 262,871 317,800
Investments 5 50 50
262,921 317,850

CURRENT ASSETS
Stocks 73,275 79,430
Debtors 6 195,302 185,755
Cash at bank and in hand 175,278 193,489
443,855 458,674
CREDITORS
Amounts falling due within one year 7 196,280 198,531
NET CURRENT ASSETS 247,575 260,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

510,496

577,993

CREDITORS
Amounts falling due after more than one
year

8

(62,832

)

(81,220

)

PROVISIONS FOR LIABILITIES (16,536 ) (21,387 )
NET ASSETS 431,128 475,386

CAPITAL AND RESERVES
Called up share capital 10 400 400
Share premium 49,970 49,970
Retained earnings 380,758 425,016
SHAREHOLDERS' FUNDS 431,128 475,386

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.

WOBURN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 04322435)

STATEMENT OF FINANCIAL POSITION - 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 16 October 2024 and were signed on its behalf by:





Mr E A Davies - Director


WOBURN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 04322435)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATEMENT OF COMPLIANCE

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.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention and on a going concern basis.

TURNOVER
The company's turnover represents the value, excluding value added tax, of goods and services supplied to customers during the year.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

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

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

WOBURN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 04322435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

DEBTORS AND CREDITORS RECEIVABLE/PAYABLE WITHIN ONE YEAR
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in administrative expenses.

INVESTMENTS IN JOINTLY CONTROLLED ENTITIES
Investments in jointly controlled entities are stated at cost less any provision for impairment. Dividends arising from those investments are taken to the Income Statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 26 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Improvements Plant and and Motor
to property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 April 2023 603,925 304,117 14,871 114,146 1,037,059
Additions - 365 39 34,750 35,154
Disposals - (75,720 ) (2,766 ) (47,055 ) (125,541 )
At 31 March 2024 603,925 228,762 12,144 101,841 946,672
DEPRECIATION
At 1 April 2023 393,379 253,008 14,422 58,450 719,259
Charge for year 27,468 28,360 97 18,952 74,877
Eliminated on disposal - (75,511 ) (2,405 ) (32,419 ) (110,335 )
At 31 March 2024 420,847 205,857 12,114 44,983 683,801
NET BOOK VALUE
At 31 March 2024 183,078 22,905 30 56,858 262,871
At 31 March 2023 210,546 51,109 449 55,696 317,800

WOBURN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 04322435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 April 2023 90,760 38,415 129,175
Disposals - (18,815 ) (18,815 )
Transfer to ownership (33,000 ) - (33,000 )
At 31 March 2024 57,760 19,600 77,360
DEPRECIATION
At 1 April 2023 48,645 25,768 74,413
Charge for year 14,440 - 14,440
Eliminated on disposal - (25,768 ) (25,768 )
Transfer to ownership (23,375 ) - (23,375 )
At 31 March 2024 39,710 - 39,710
NET BOOK VALUE
At 31 March 2024 18,050 19,600 37,650
At 31 March 2023 42,115 12,647 54,762

5. FIXED ASSET INVESTMENTS
Interest in
joint
venture
£
COST
At 1 April 2023
and 31 March 2024 50
NET BOOK VALUE
At 31 March 2024 50
At 31 March 2023 50

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 193,819 178,621
Other debtors 1,483 7,134
195,302 185,755

WOBURN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 04322435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 7,301 19,553
Trade creditors 149,886 151,391
Taxation and social security 18,350 11,969
Other creditors 20,743 15,618
196,280 198,531

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Hire purchase contracts - 7,301
Other creditors 62,832 73,919
62,832 81,220

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 7,301 26,854

Hire purchase liabilities are secured against the relevant assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
300 Ordinary £1 300 300
100 Producer £1 100 100
400 400

WOBURN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 04322435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. CALLED UP SHARE CAPITAL - continued

On 10 April 2008 28 ordinary shares of £1 each were issued by way of bonus issue. On 19 November 2008 a further 240 ordinary shares of £1 each were issued by way of bonus issue. A further 30 ordinary shares of £1 each were then issued for cash at a premium of £1665.6666 per share.

On 10 November 2008 a new category of shares known as Producer Shares was created in connection with the establishment of the Woburn Country Foods Producer Group. The shares are Cumulative Participating Redeemable Preference Shares with a nominal value of £1 each. During the year ended 31 March 2009, 1,260 Producer Shares were issued at par for cash. 260 of those Producer Shares were redeemed at par for cash during the year ended 31 March 2020. A further 900 of those Producer Shares were redeemed at par for cash on 20 April 2021.

The Producer Shares shall only be issued to Members of the Woburn Country Foods Producer Group ("the Producer Group") as defined in the Formation Agreement for the Producer Group dated 10 November 2008.
The Producer Shares are Cumulative Participating Redeemable Preference Shares and confer on their holders the following rights:-
1. As to income:- the right to a fixed cumulative preferential dividend at the rate of 5% per annum on the capital for the time being paid up or credited as paid up on the Shares as at 31 March in each year to be paid to the extent that there are profits available for distribution annually on 31 March in each year in respect of the 12 months ending on that date.The right to a participating dividend which shall be calculated by taking 10% of the net profit of the Company after tax in each year (as certified by the company's accountants), dividing the same by the authorised number of Producer Shares and paying the resultant amount as a dividend on each Producer Share for the time being paid up or credited as paid up on 31 March in each year but subject to the provisions relating to cancellation of the dividends set out in the Formation Agreement.
2. As to capital - the right on a winding up or other return of capital to repayment in priority to any payment to the holder of any shares in the capital of the Company of the amounts paid up on the Producer Shares held by them and any arrears or accruals of the fixed dividend on the Producer Shares held by them whether declared or earned or not calculated down to the date of such repayment.
3. As to voting - the right to attend any general meeting of the Company but not to vote at such meeting or vote on any written resolution proposed to be passed by the Company unless at the date of notice or requisition to convene the meeting the fixed preferential dividend is in arrears for more than 6 months after any date for payment of it (unless the Company is prevented by law from paying the dividend); or the proposition to be submitted to the meeting abrogates or varies or otherwise directly affects the special rights and privileges attaching to the Producer Shares.
The Producer Shares shall subject to the provisions of the Companies Act 2006 Part 18, Chapter 3 be redeemed upon and subject to the following terms and conditions:-
The company shall have the right at any time after the holder of any of the Producer Shares shall cease to be a Member of the Producer Group or as otherwise provided in the Formation Agreement to redeem all Producer Shares held by such shareholder at their par value.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£ £
Miss H M Davies
Balance outstanding at start of year - 4,000
Amounts repaid - (4,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

WOBURN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 04322435)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

The loans were interest free and repayable on demand.

12. GOVERNMENT GRANTS RECEIVABLE

In the years up to 2010, government grants were receivable by the company in respect of capital expenditure. Out of amounts deferred from the previous year, £11,088 (2023 - £11,088) has been credited to the Income Statement in accordance with the corresponding depreciation policies for the assets concerned. At the year end the deferred balance of £73,919 (2023 - £85,007) has been included in accruals and deferred income.