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REGISTERED NUMBER: 07871839 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

W. A. Wells Farms Limited

W. A. Wells Farms Limited (Registered number: 07871839)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


W. A. Wells Farms Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: W S Wells
M J Wells





REGISTERED OFFICE: Sandiacres
Station Road
Harby
Newark
Nottinghamshire
NG23 7EJ





REGISTERED NUMBER: 07871839 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
W. A. Wells Farms 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 Balance Sheet. 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 W. A. Wells Farms Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of W. A. Wells Farms 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 W. A. Wells Farms Limited and state those matters that we have agreed to state to the Board of Directors of W. A. Wells Farms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W. A. Wells Farms Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that W. A. Wells Farms 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 profit of W. A. Wells Farms Limited. You consider that W. A. Wells Farms 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 W. A. Wells Farms 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


Date: .............................................

W. A. Wells Farms Limited (Registered number: 07871839)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 256,433 229,035

CURRENT ASSETS
Stocks 39,739 61,172
Debtors 5 31,540 3,594
Cash at bank 395,151 152,059
466,430 216,825
CREDITORS
Amounts falling due within one year 6 399,160 289,211
NET CURRENT ASSETS/(LIABILITIES) 67,270 (72,386 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

323,703

156,649

PROVISIONS FOR LIABILITIES 29,212 34,914
NET ASSETS 294,491 121,735

CAPITAL AND RESERVES
Called up share capital 7 200 200
Retained earnings 294,291 121,535
SHAREHOLDERS' FUNDS 294,491 121,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 19 November 2024 and were signed on its behalf by:





M J Wells - Director


W. A. Wells Farms Limited (Registered number: 07871839)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

W. A. Wells Farms 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and Buildings - Straight line over 25 years
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Tractors - 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.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

W. A. Wells Farms Limited (Registered number: 07871839)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Land and Plant and Office
Buildings machinery equipment
£    £    £   
COST
At 1 July 2023 79,826 444,730 750
Additions 109,835 14,449 1,380
Disposals - (182,857 ) -
At 30 June 2024 189,661 276,322 2,130
DEPRECIATION
At 1 July 2023 13,296 315,206 185
Charge for year 7,587 14,735 703
Eliminated on disposal - (117,437 ) -
At 30 June 2024 20,883 212,504 888
NET BOOK VALUE
At 30 June 2024 168,778 63,818 1,242
At 30 June 2023 66,530 129,524 565

Motor
vehicles Tractors Totals
£    £    £   
COST
At 1 July 2023 22,000 225,810 773,116
Additions - - 125,664
Disposals - (16,009 ) (198,866 )
At 30 June 2024 22,000 209,801 699,914
DEPRECIATION
At 1 July 2023 13,591 201,803 544,081
Charge for year 1,682 5,529 30,236
Eliminated on disposal - (13,399 ) (130,836 )
At 30 June 2024 15,273 193,933 443,481
NET BOOK VALUE
At 30 June 2024 6,727 15,868 256,433
At 30 June 2023 8,409 24,007 229,035

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 900 1,800
Other debtors 30,640 1,794
31,540 3,594

W. A. Wells Farms Limited (Registered number: 07871839)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,404 -
Trade creditors 2,653 1,270
Taxation and social security 89,605 18,278
Other creditors 304,498 269,663
399,160 289,211

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £1 200 200