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REGISTERED NUMBER: 03510038 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Westhorpe Farming Limited

Westhorpe Farming Limited (Registered number: 03510038)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


Westhorpe Farming Limited

Company Information
for the Year Ended 31 March 2024







Directors: D A Casswell
F N Casswell





Secretary: Mrs H A Casswell





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: Monks Hall
Quadring Road
Gosberton
Spalding
Lincolnshire
PE11 4NB





Registered number: 03510038 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Westhorpe Farming 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 Statement of financial position. 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 Westhorpe Farming Limited for the year ended 31 March 2024 which comprise the Statement of income and retained earnings, Statement of financial position 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 Westhorpe Farming Limited, as a body, in accordance with the terms of our engagement letter dated 26 November 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Westhorpe Farming Limited and state those matters that we have agreed to state to the Board of Directors of Westhorpe Farming 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 Westhorpe Farming Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Westhorpe Farming 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 loss of Westhorpe Farming Limited. You consider that Westhorpe Farming 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 Westhorpe Farming 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.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


23 December 2024

Westhorpe Farming Limited (Registered number: 03510038)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Biological assets 5 2,630 4,964
Tangible assets 6 146,789 163,155
Investments 7 7 7
149,426 168,126

Current assets
Debtors 8 22,573 57,946
Cash at bank 57,471 25,943
80,044 83,889
Creditors
Amounts falling due within one year 9 91,824 105,723
Net current liabilities (11,780 ) (21,834 )
Total assets less current liabilities 137,646 146,292

Provisions for liabilities 3,181 4,824
Net assets 134,465 141,468

Capital and reserves
Called up share capital 10 125,000 125,000
Retained earnings 9,465 16,468
Shareholders' funds 134,465 141,468

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

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

Westhorpe Farming Limited (Registered number: 03510038)

Statement of Financial Position - 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 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 23 December 2024 and were signed on its behalf by:





D A Casswell - Director


Westhorpe Farming Limited (Registered number: 03510038)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

Westhorpe Farming 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Biological asset is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Freehold land - Not depreciated
Plant and machinery - 20% reducing balance or 5% straight line
Fixtures, fittings and equipment - 20% reducing balance
Motor vehicles - 25% reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Westhorpe Farming Limited (Registered number: 03510038)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued

Biological assets
Biological assets measured under the fair value model are valued on initial recognition and at each reporting date at fair value less costs to sell. Changes in fair value less costs to sell are recognised in profit or loss.

Agricultural produce harvested from these biological assets is measured at the point of harvest at its fair value less costs to sell.

Biological assets measured under the cost model are held at cost less any accumulated depreciation and any accumulated impairment losses.

Agricultural produce harvested from these biological assets is measured at the point of harvest at either: the lower of cost and estimated selling price less costs to complete and sell; or its fair value less costs to sell. Any gain or loss arising on initial recognition of produce at fair value less costs to sell is included in profit or loss for the period.

4. Employees and directors

The average number of employees during the year was 2 (2023 - 3 ) .

5. Biological assets
Other
intangible
assets
£   
Cost
At 1 April 2023 4,964
Purchases 2,630
Harvest (4,964 )
At 31 March 2024 2,630
Net book value
At 31 March 2024 2,630
At 31 March 2023 4,964

Westhorpe Farming Limited (Registered number: 03510038)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. Tangible fixed assets
Fixtures,
fittings
Land and Plant and and Motor
buildings machinery equipment vehicles Totals
£    £    £    £    £   
Cost
At 1 April 2023
and 31 March 2024 71,725 191,763 607 12,000 276,095
Depreciation
At 1 April 2023 - 103,179 607 9,154 112,940
Charge for year - 15,654 - 712 16,366
At 31 March 2024 - 118,833 607 9,866 129,306
Net book value
At 31 March 2024 71,725 72,930 - 2,134 146,789
At 31 March 2023 71,725 88,584 - 2,846 163,155

7. Fixed asset investments
Other
investments
other
than
loans
£   
Cost
At 1 April 2023
and 31 March 2024 7
Net book value
At 31 March 2024 7
At 31 March 2023 7

8. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 20,138 47,070
VAT 354 10,535
Prepayments and accrued income 2,081 341
22,573 57,946

Westhorpe Farming Limited (Registered number: 03510038)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 7,293 14,792
Social security and other taxes - 2
Directors' current accounts 81,126 87,626
Accruals and deferred income 3,405 3,303
91,824 105,723

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
125,000 Ordinary shares £1 125,000 125,000