West Hill Farm Limited 08195140 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is dairy farming. Digita Accounts Production Advanced 6.30.9574.0 true 08195140 2023-04-01 2024-03-31 08195140 2024-03-31 08195140 core:RetainedEarningsAccumulatedLosses 2024-03-31 08195140 core:ShareCapital 2024-03-31 08195140 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 08195140 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08195140 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08195140 bus:SmallEntities 2023-04-01 2024-03-31 08195140 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08195140 bus:FullAccounts 2023-04-01 2024-03-31 08195140 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08195140 bus:RegisteredOffice 2023-04-01 2024-03-31 08195140 bus:Director1 2023-04-01 2024-03-31 08195140 bus:Director2 2023-04-01 2024-03-31 08195140 bus:Director3 2023-04-01 2024-03-31 08195140 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08195140 core:ComputerEquipment 2023-04-01 2024-03-31 08195140 core:LeaseholdImprovements 2023-04-01 2024-03-31 08195140 core:PlantMachinery 2023-04-01 2024-03-31 08195140 countries:EnglandWales 2023-04-01 2024-03-31 08195140 2023-03-31 08195140 2022-04-01 2023-03-31 08195140 2023-03-31 08195140 core:RetainedEarningsAccumulatedLosses 2023-03-31 08195140 core:ShareCapital 2023-03-31 08195140 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-03-31 08195140 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08195140 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 08195140

West Hill Farm Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

West Hill Farm Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 4

 

West Hill Farm Limited

(Registration number: 08195140)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,266,965

772,133

Other financial assets

5

308,275

314,105

 

2,575,240

1,086,238

Current assets

 

Stocks

6

121,780

148,053

Debtors

211,238

436,181

Investments

7

50

50

Cash at bank and in hand

 

44,242

63,146

 

377,310

647,430

Creditors: Amounts falling due within one year

8

(263,852)

(269,993)

Net current assets

 

113,458

377,437

Total assets less current liabilities

 

2,688,698

1,463,675

Creditors: Amounts falling due after more than one year

(1,072,471)

-

Provisions for liabilities

(90,718)

(93,246)

Net assets

 

1,525,509

1,370,429

Capital and reserves

 

Called up share capital

6

6

Profit and loss account

1,525,503

1,370,423

Total equity

 

1,525,509

1,370,429

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 4 November 2024 and signed on its behalf by:
 

Mrs D S Buckland
Director

Mr I R Buckland
Director

Mr R C Buckland
Director

     
 

West Hill Farm Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 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:
West Hill Farm
Brister End
Yetminster
Nr Sherborne
Dorset
DT9 6NL

These financial statements were authorised for issue by the Board on 4 November 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

 

West Hill Farm Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Leasehold improvements

5% straight line

Plant and machinery

20% reducing balance

Computer equipment

33% straight line

Investments

Investments in equity shares where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit or loss account. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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 stocks 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.

Biological assets

Biological assets, living plants and animals are included at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

 

West Hill Farm Limited

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

4

Tangible assets

Total
£

Cost or valuation

At 1 April 2023

1,161,217

Additions

1,594,976

At 31 March 2024

2,756,193

Depreciation

At 1 April 2023

389,084

Charge for the year

100,144

At 31 March 2024

489,228

Carrying amount

At 31 March 2024

2,266,965

At 31 March 2023

772,133

5

Other financial assets (current and non-current)

2024
£

2023
£

Non-current financial assets

Financial assets at cost less impairment

308,275

314,105

6

Stocks

2024
£

2023
£

Livestock

86,507

105,319

Stock

35,273

42,734

121,780

148,053

7

Current asset investments

2024
£

2023
£

Other investments

50

50

8

Creditors: amounts falling due within one year

Creditors include bank loans and net obligations on hire purchase contracts which are secured of £1,113,416 (2023 - £14,197).