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REGISTERED NUMBER: 00547237 (England and Wales)























Unaudited Financial Statements

for the Period 1 January 2023 to 31 March 2024

for


W Leslie Caley Limited


W Leslie Caley Limited (Registered number: 00547237)







Contents of the Financial Statements

for the period 1 January 2023 to 31 March 2024





Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

4




W Leslie Caley Limited


Company Information

for the period 1 January 2023 to 31 March 2024









DIRECTORS:

Mrs S Sackur


Lord A W H Nelson of Stafford


The Hon. S.J. Barker







REGISTERED OFFICE:

Manor Farm


Tibthorpe


Driffield


East Yorkshire


YO25 9JZ







REGISTERED NUMBER:

00547237 (England and Wales)







ACCOUNTANTS:

Smailes Goldie Limited


Chartered Accountants


Regent's Court


Princess Street


Hull


East Yorkshire


HU2 8BA


W Leslie Caley Limited (Registered number: 00547237)


Balance Sheet

31 March 2024



2024

2022



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

4

-


-



Tangible assets

5

2,206,125


2,242,785



Investments

6

5,001


5,002



Investment property

7

300,000


300,000



2,511,126


2,547,787




CURRENT ASSETS

Stocks

193,302


297,873



Debtors

8

47,482


163,569



Cash at bank

300,169


53,156



540,953


514,598



CREDITORS

Amounts falling due within one year

9

272,327


148,648



NET CURRENT ASSETS

268,626


365,950



TOTAL ASSETS LESS CURRENT

LIABILITIES

2,779,752


2,913,737




CREDITORS

Amounts falling due after more than one

year

10

(390,195

)

(447,316

)



PROVISIONS FOR LIABILITIES

(207,000

)

(217,000

)


NET ASSETS

2,182,557


2,249,421




CAPITAL AND RESERVES

Called up share capital

31,000


31,000



Revaluation reserve

300,000


300,000



Retained earnings

1,851,557


1,918,421



SHAREHOLDERS' FUNDS

2,182,557


2,249,421




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


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


W Leslie Caley Limited (Registered number: 00547237)


Balance Sheet - continued

31 March 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 Profit & Loss Account has not been delivered.  


The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2024 and were signed on its behalf by:





Mrs S Sackur - Director

Lord A W H Nelson of Stafford - Director





The Hon. S.J. Barker - Director



W Leslie Caley Limited (Registered number: 00547237)


Notes to the Financial Statements

for the period 1 January 2023 to 31 March 2024


1.

STATUTORY INFORMATION



W Leslie Caley 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


The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.



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



Turnover


Turnover represents sales of farm produce, livestock, farm subsidies and contracting services, net of VAT and trade discounts. Turnover is recognised when the economic risks and rewards pass to third parties.



Intangible fixed assets

Basic Payment Scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the entitlement had been fully amortised. The original Basic Payment Scheme commenced in 2015 and ceased in the year ended 31 December 2021.

Entitlements acquired via the ownership of existing land, and therefore have no cost, have been revalued to fair value on transition to FRS102, which has subsequently been treated as their deemed cost, and are being amortised over their expected useful life in accordance with the above period of benefit expected from the basic payment scheme.

Provision is made for any impairment.


Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Freehold land Nil
Freehold buildings 10% on cost
Plant and equipment 15% on cost
Motor Vehicles 15% on cost



Investment property


Investment properties for which fair value can be measured reliably are measured at fair value at each reporting date with changes in fair value recognised in profit and loss account.


W Leslie Caley Limited (Registered number: 00547237)


Notes to the Financial Statements - continued

for the period 1 January 2023 to 31 March 2024


2.

ACCOUNTING POLICIES - continued



Stocks


Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is estimated selling price in the ordinary course of business, less applicable variable selling expenses.



Current & deferred tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.


Debtors and creditors receivable/ payable within one year


Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.



Loans and borrowings


Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.  If an arrangement constitutes a finance transaction it is measured at present value.



Impairment


Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.



Provisions


Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.



Government grants


Amounts receivable under the Common Agriculture Policy subsidy schemes are recognised as income in the profit and loss account when the eligibility criteria have been satisfied at the end of the scheme year.


3.

EMPLOYEES AND DIRECTORS



The average number of employees during the period was 8 (2022 - 8 ) .


W Leslie Caley Limited (Registered number: 00547237)


Notes to the Financial Statements - continued

for the period 1 January 2023 to 31 March 2024


4.

INTANGIBLE FIXED ASSETS


Other


intangible


assets

£   



COST


At 1 January 2023


and 31 March 2024

54,038




AMORTISATION


At 1 January 2023


and 31 March 2024

54,038




NET BOOK VALUE


At 31 March 2024

-




At 31 December 2022

-




5.

TANGIBLE FIXED ASSETS


Implements



Freehold


Farm


and motor



land


buildings


vehicles


Totals

£   

£   

£   

£   



COST


At 1 January 2023

1,631,015


97,876


1,213,961


2,942,852




Additions

-


-


93,110


93,110




Disposals

-


-


(54,943

)

(54,943

)



At 31 March 2024

1,631,015


97,876


1,252,128


2,981,019




DEPRECIATION


At 1 January 2023

-


43,495


656,572


700,067




Charge for period

-


7,265


115,703


122,968




Eliminated on disposal

-


-


(48,141

)

(48,141

)



At 31 March 2024

-


50,760


724,134


774,894




NET BOOK VALUE


At 31 March 2024

1,631,015


47,116


527,994


2,206,125




At 31 December 2022

1,631,015


54,381


557,389


2,242,785




6.

FIXED ASSET INVESTMENTS



Investments (neither listed nor unlisted) were as follows:

2024

2022


£   

£   



BATA

5,000


5,001




Pea quota

1


1



5,001


5,002




W Leslie Caley Limited (Registered number: 00547237)


Notes to the Financial Statements - continued

for the period 1 January 2023 to 31 March 2024


7.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 January 2023


and 31 March 2024

300,000




NET BOOK VALUE


At 31 March 2024

300,000




At 31 December 2022

300,000




8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2022


£   

£   



Trade debtors

17,827


11,758




Other debtors

-


101,564




VAT

13,537


46,097




Prepayments and accrued income

16,118


4,150



47,482


163,569




9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2022


£   

£   



Secured loans

43,554


38,179




Trade creditors

15,318


12,066




Tax

-


29,585




Social security and other taxes

1,454


1,407




Other creditors

139,949


945




Directors' loan accounts

50,563


50,000




Accruals and deferred income

21,489


16,466



272,327


148,648




10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR


2024

2022


£   

£   



Secured loans

46,257


39,753




Secured loans due between 2 and 5

years

97,297


106,408




Secured loans due over 5 years

246,641


301,155



390,195


447,316





Amounts falling due in more than five years:



Repayable by instalments


Secured loans due over 5 years

246,641


301,155




W Leslie Caley Limited (Registered number: 00547237)


Notes to the Financial Statements - continued

for the period 1 January 2023 to 31 March 2024


11.

SECURED DEBTS



The following secured debts are included within creditors:


2024

2022


£   

£   



Secured loans

433,749


485,495





The loans are subject to a legal charge of £400,000 over the company's freehold land and buildings.