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Company No: 05534184 (England and Wales)

WIDDINGTON SHOOT LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

WIDDINGTON SHOOT LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

WIDDINGTON SHOOT LIMITED

BALANCE SHEET

As at 31 January 2024
WIDDINGTON SHOOT LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 135,113 144,017
135,113 144,017
Current assets
Stocks 4 3,924 3,924
Debtors 5 2,499 28,299
Cash at bank and in hand 751 12,880
7,174 45,103
Creditors: amounts falling due within one year 6 ( 65,742) ( 116,487)
Net current liabilities (58,568) (71,384)
Total assets less current liabilities 76,545 72,633
Creditors: amounts falling due after more than one year 7 ( 29,408) ( 36,923)
Provision for liabilities ( 6,639) 0
Net assets 40,498 35,710
Capital and reserves
Called-up share capital 20 2
Profit and loss account 40,478 35,708
Total shareholders' funds 40,498 35,710

For the financial year ending 31 January 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 Widdington Shoot Limited (registered number: 05534184) were approved and authorised for issue by the Board of Directors on 14 November 2024. They were signed on its behalf by:

Mr J Horton
Director
WIDDINGTON SHOOT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
WIDDINGTON SHOOT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

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

General information and basis of accounting

Widdington Shoot Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Widdington Farm, Upavon, Pewsey, Wiltshire, SN9 6EE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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.

Turnover

Revenue from services is recognised as they are delivered.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 10 % reducing balance
Fixtures and fittings 10 % reducing balance
Office equipment 10 % reducing balance
Other property, plant and equipment 10 % 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.

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 Profit and Loss Account as described below.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 February 2023 139,299 31,636 10,133 71,321 252,389
Additions 19,500 0 0 0 19,500
Disposals ( 17,250) 0 0 0 ( 17,250)
At 31 January 2024 141,549 31,636 10,133 71,321 254,639
Accumulated depreciation
At 01 February 2023 48,354 18,553 5,742 35,723 108,372
Charge for the financial year 5,848 1,305 440 3,561 11,154
At 31 January 2024 54,202 19,858 6,182 39,284 119,526
Net book value
At 31 January 2024 87,347 11,778 3,951 32,037 135,113
At 31 January 2023 90,945 13,083 4,391 35,598 144,017

4. Stocks

2024 2023
£ £
Stocks 3,924 3,924

5. Debtors

2024 2023
£ £
Trade debtors 0 3,500
Other debtors 2,499 24,799
2,499 28,299

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 5,514 5,514
Trade creditors 0 65,910
Amounts owed to related parties 6,609 6,609
Other taxation and social security 7,926 927
Obligations under finance leases and hire purchase contracts 1,971 3,499
Other creditors 43,722 34,028
65,742 116,487

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 29,408 34,952
Obligations under finance leases and hire purchase contracts 0 1,971
29,408 36,923

There are no amounts included above in respect of which any security has been given by the small entity.