IRIS Accounts Production v24.2.0.383 06654606 Board of Directors Board of Directors 1.8.23 31.7.24 31.7.24 false true false false true false Preference A Shares 1.00000 Preference B Shares 1.00000 Preference C Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh066546062023-07-31066546062024-07-31066546062023-08-012024-07-31066546062022-07-31066546062022-08-012023-07-31066546062023-07-3106654606ns15:EnglandWales2023-08-012024-07-3106654606ns14:PoundSterling2023-08-012024-07-3106654606ns10:Director12023-08-012024-07-3106654606ns10:Director22023-08-012024-07-3106654606ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3106654606ns10:SmallEntities2023-08-012024-07-3106654606ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3106654606ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3106654606ns10:FullAccounts2023-08-012024-07-3106654606ns10:OrdinaryShareClass32023-08-012024-07-3106654606ns10:OrdinaryShareClass42023-08-012024-07-3106654606ns10:OrdinaryShareClass52023-08-012024-07-3106654606ns10:Director32023-08-012024-07-3106654606ns10:Director42023-08-012024-07-3106654606ns10:Director52023-08-012024-07-3106654606ns10:Director62023-08-012024-07-3106654606ns10:Director72023-08-012024-07-3106654606ns10:Director92023-08-012024-07-3106654606ns10:RegisteredOffice2023-08-012024-07-3106654606ns5:CurrentFinancialInstruments2024-07-3106654606ns5:CurrentFinancialInstruments2023-07-3106654606ns5:Non-currentFinancialInstruments2024-07-3106654606ns5:Non-currentFinancialInstruments2023-07-3106654606ns5:ShareCapital2024-07-3106654606ns5:ShareCapital2023-07-3106654606ns5:SharePremium2024-07-3106654606ns5:SharePremium2023-07-3106654606ns5:CapitalRedemptionReserve2024-07-3106654606ns5:CapitalRedemptionReserve2023-07-3106654606ns5:RetainedEarningsAccumulatedLosses2024-07-3106654606ns5:RetainedEarningsAccumulatedLosses2023-07-3106654606ns5:PlantMachinery2023-08-012024-07-3106654606ns5:FurnitureFittings2023-08-012024-07-3106654606ns5:MotorVehicles2023-08-012024-07-3106654606ns5:PlantMachinery2023-07-3106654606ns5:PlantMachinery2024-07-3106654606ns5:PlantMachinery2023-07-3106654606ns5:CostValuation2023-07-3106654606ns5:DisposalsRepaymentsInvestments2024-07-3106654606ns5:CostValuation2024-07-3106654606ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3106654606ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3106654606ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-07-3106654606ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-07-3106654606ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-07-3106654606ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-07-3106654606ns5:HirePurchaseContracts2024-07-3106654606ns5:HirePurchaseContracts2023-07-3106654606ns5:WithinOneYear2024-07-3106654606ns5:WithinOneYear2023-07-3106654606ns5:BetweenOneFiveYears2024-07-3106654606ns5:BetweenOneFiveYears2023-07-3106654606ns5:AllPeriods2024-07-3106654606ns5:AllPeriods2023-07-3106654606ns5:Secured2024-07-3106654606ns5:Secured2023-07-3106654606ns10:OrdinaryShareClass32024-07-3106654606ns10:OrdinaryShareClass42024-07-3106654606ns10:OrdinaryShareClass52024-07-31
REGISTERED NUMBER: 06654606 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

WHOLE CROP MARKETING LIMITED

WHOLE CROP MARKETING LIMITED (REGISTERED NUMBER: 06654606)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WHOLE CROP MARKETING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: J W Dewhirst
I W Dowson
P L Dunn
B Hargreaves
R Kendall
A M Soanes
S F Ullyott
M L Robson





REGISTERED OFFICE: Manor Farm Office
Kirkburn
Driffield
East Yorkshire
YO25 9DU





REGISTERED NUMBER: 06654606 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

WHOLE CROP MARKETING LIMITED (REGISTERED NUMBER: 06654606)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 236,141 267,548
Investments 5 - -
236,141 267,548

CURRENT ASSETS
Stocks - 39,683
Debtors 6 2,258,181 3,575,113
Cash at bank and in hand 187,745 217,452
2,445,926 3,832,248
CREDITORS
Amounts falling due within one year 7 2,293,867 3,853,361
NET CURRENT ASSETS/(LIABILITIES) 152,059 (21,113 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

388,200

246,435

CREDITORS
Amounts falling due after more than one
year

8

4,178

22,398
NET ASSETS 384,022 224,037

CAPITAL AND RESERVES
Called up share capital 11 940 940
Share premium 79,900 79,900
Capital redemption reserve 200 200
Retained earnings 302,982 142,997
SHAREHOLDERS' FUNDS 384,022 224,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

WHOLE CROP MARKETING LIMITED (REGISTERED NUMBER: 06654606)

BALANCE SHEET - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:




S F Ullyott - Director



P L Dunn - Director


WHOLE CROP MARKETING LIMITED (REGISTERED NUMBER: 06654606)

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

1. STATUTORY INFORMATION

Whole Crop Marketing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Significant judgements and estimates
In the application of the company's accounting policies, which are described further in this note, management are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Key sources of estimation and uncertainty
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Useful economic lives of intangible and tangible assets
The annual amortisation and depreciation charges for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See the notes to the financial statements for the carrying amount of the property, plant and equipment and the useful economic lives of each class of assets.

Turnover
Revenue is recognised at the fair value of the consideration received or receivable for the sale of goods in the ordinary nature of the business. Revenue is shown net of value added tax. The company has a variety of sources of revenue as described below:

- Revenue from selling crops grown by its members, based on a date supplied basis.
- Revenue from selling seed potatoes to its members, based on a date supplied basis.
- Revenue for managing crops on behalf of customers, based on a time spent basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Office equipment - 33% on reducing balance
Motor vehicles - 20% 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.

The company also trials new varieties of potatoes. This stock is valued at cost.


WHOLE CROP MARKETING LIMITED (REGISTERED NUMBER: 06654606)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company has implemented automatic enrolment into a workplace pension scheme in relation to all employees.

Fixed asset investments
Fixed asset investment are valued at cost less provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 19 ) .

WHOLE CROP MARKETING LIMITED (REGISTERED NUMBER: 06654606)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 633,582
Additions 99,400
Disposals (111,702 )
At 31 July 2024 621,280
DEPRECIATION
At 1 August 2023 366,034
Charge for year 60,034
Eliminated on disposal (40,929 )
At 31 July 2024 385,139
NET BOOK VALUE
At 31 July 2024 236,141
At 31 July 2023 267,548

The net book value of tangible fixed assets includes £ 42,082 (2023 - £ 52,689 ) in respect of assets held under hire purchase contracts.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023 20
Disposals (20 )
At 31 July 2024 -
PROVISIONS
At 1 August 2023 20

Eliminated on disposal (20 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

The investment represented a 20% interest in Kincraigie Growers Limited.

On 24 October 2023, this company was formally dissolved at Companies House.

WHOLE CROP MARKETING LIMITED (REGISTERED NUMBER: 06654606)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 2,212,314 3,502,807
Other debtors 45,867 72,306
2,258,181 3,575,113

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts (see note 9) 18,220 22,751
Trade creditors 1,557,123 3,422,262
Amounts owed to associates - 3,220
Taxation and social security 35,446 20,787
Other creditors 683,078 384,341
2,293,867 3,853,361

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts (see note 9) 4,178 22,398

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.7.24 31.7.23
£    £   
Net obligations repayable:
Within one year 18,220 22,751
Between one and five years 4,178 22,398
22,398 45,149

Non-cancellable operating leases
31.7.24 31.7.23
£    £   
Within one year 2,003 25,823
Between one and five years - 2,003
2,003 27,826

WHOLE CROP MARKETING LIMITED (REGISTERED NUMBER: 06654606)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Hire purchase contracts 22,398 45,149
Invoice finance facility 310,249 98,730
332,647 143,879

The bank invoice financing account is secured by an unlimited debenture over all assets of the company.

Hire purchase contracts are secured over the assets being financed.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
10 Preference A Shares £1 10 10
10 Preference B Shares £1 10 10
10 Preference C Shares £1 10 10
10 Preference D Shares £1 10 10
1,800 Ordinary 50p 900 900
940 940

12. RELATED PARTY DISCLOSURES

During the year to 31 July 2024, the company took out a bank loan which was secured by an indemnity and personal guarantee from the following directors; J W Dewhirst, I W Dowson, B Hargreaves, R Kendall, A M Soanes, S F Ullyott and M L Robson.

This loan was fully repaid during the year.

13. ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no single controlling party.