GS and L Wheeldon Limited 06745554 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 06745554 2023-04-01 2024-03-31 06745554 2024-03-31 06745554 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 06745554 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 06745554 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 06745554 core:CurrentFinancialInstruments 2024-03-31 06745554 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06745554 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06745554 core:FurnitureFittingsToolsEquipment 2024-03-31 06745554 core:LandBuildings 2024-03-31 06745554 core:OtherPropertyPlantEquipment 2024-03-31 06745554 bus:SmallEntities 2023-04-01 2024-03-31 06745554 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06745554 bus:FilletedAccounts 2023-04-01 2024-03-31 06745554 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06745554 bus:RegisteredOffice 2023-04-01 2024-03-31 06745554 bus:Director2 2023-04-01 2024-03-31 06745554 bus:Director3 2023-04-01 2024-03-31 06745554 bus:Director4 2023-04-01 2024-03-31 06745554 bus:Director5 2023-04-01 2024-03-31 06745554 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06745554 core:Buildings 2023-04-01 2024-03-31 06745554 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 06745554 core:LandBuildings 2023-04-01 2024-03-31 06745554 core:OfficeEquipment 2023-04-01 2024-03-31 06745554 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 06745554 core:PlantMachinery 2023-04-01 2024-03-31 06745554 countries:EnglandWales 2023-04-01 2024-03-31 06745554 2023-03-31 06745554 core:FurnitureFittingsToolsEquipment 2023-03-31 06745554 core:LandBuildings 2023-03-31 06745554 core:OtherPropertyPlantEquipment 2023-03-31 06745554 2022-04-01 2023-03-31 06745554 2023-03-31 06745554 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 06745554 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 06745554 core:CurrentFinancialInstruments 2023-03-31 06745554 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06745554 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06745554 core:FurnitureFittingsToolsEquipment 2023-03-31 06745554 core:LandBuildings 2023-03-31 06745554 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06745554

GS and L Wheeldon Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

GS and L Wheeldon Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

GS and L Wheeldon Limited

Company Information

Directors

Mr T J Wheeldon

Mrs L Wheeldon

Mr J R Wheeldon

Mr T S Wheeldon

Registered office

51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

GS and L Wheeldon Limited

(Registration number: 06745554)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

349,941

239,134

Other financial assets

5

10,332

10,332

 

360,273

249,466

Current assets

 

Stocks

217,606

217,147

Debtors

6

110,724

85,008

Cash at bank and in hand

 

814,519

718,039

 

1,142,849

1,020,194

Creditors: Amounts falling due within one year

7

(294,872)

(210,570)

Net current assets

 

847,977

809,624

Total assets less current liabilities

 

1,208,250

1,059,090

Creditors: Amounts falling due after more than one year

7

(61,752)

-

Provisions for liabilities

(64,700)

(57,199)

Net assets

 

1,081,798

1,001,891

Capital and reserves

 

Called up share capital

99

99

Retained earnings

1,081,699

1,001,792

Shareholders' funds

 

1,081,798

1,001,891

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.

Directors' responsibilities:

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.

 

GS and L Wheeldon Limited

(Registration number: 06745554)
Balance Sheet as at 31 March 2024 (continued)

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 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:
 

.........................................
Mr T J Wheeldon
Director

   
     
 

GS and L Wheeldon Limited

Notes to the Unaudited 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 registration number: 06745554.

The address of its registered office is:
51 St John Street
Ashbourne
Derbyshire
DE6 1GP
England

These financial statements were authorised for issue by the Board on 7 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

The presentation currency is £ sterling.

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

Buildings

4% straight line basis

Plant and machinery

15% reducing balance basis

Office equipment

33% straight line basis

 

GS and L Wheeldon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Investments

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

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Biological assets, living plants and animals are included at the lower of cost and estimated selling price less costs to sell. Cost is determined on a first in first out basis, net realisable value is based on estimated selling price, less any costs which may arise on realisation. Purchased livestock is valued at cost of purchase plus costs of rearing to the valuation date or to maturity, if earlier. Livestock which is homebred, farm reared or acquired some time before maturity and matured on the farm is valued at deemed cost at the following rates: cattle and sheep 60% and 75% of open market value, herds and flocks on herd basis.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

GS and L Wheeldon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

20,532

916

619,761

641,209

Additions

-

1,210

153,115

154,325

Disposals

-

-

(24,771)

(24,771)

At 31 March 2024

20,532

2,126

748,105

770,763

Depreciation

At 1 April 2023

10,194

527

391,354

402,075

Charge for the year

821

228

38,845

39,894

Eliminated on disposal

-

-

(21,147)

(21,147)

At 31 March 2024

11,015

755

409,052

420,822

Carrying amount

At 31 March 2024

9,517

1,371

339,053

349,941

At 31 March 2023

10,338

389

228,407

239,134

Included within the net book value of land and buildings above is £9,517 (2023 - £10,338) in respect of freehold land and buildings.
 

 

GS and L Wheeldon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

10,332

10,332

At 31 March 2024

10,332

10,332

Impairment

Carrying amount

At 31 March 2024

10,332

10,332

6

Debtors

Current

2024
£

2023
£

Trade debtors

9,674

11,926

Prepayments

19,865

4,819

Other debtors

81,185

68,263

 

110,724

85,008

 

GS and L Wheeldon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

49,923

-

Trade creditors

 

15,219

28,938

Taxation and social security

 

10,647

32,732

Accruals and deferred income

 

4,000

3,700

Other creditors

 

215,083

145,200

 

294,872

210,570

Creditors include obligations under hire purchase contracts which are secured against the asset they relate to of £49,923 (2023 - £nil).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

61,752

-

Creditors include obligations under hire purchase contracts which are secured against the asset they relate to of £61,752 (2023 - £nil).

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

49,923

-

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

61,752

-