W & PE Gosling & Son Limited 06766423 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of dairy farming Digita Accounts Production Advanced 6.30.9574.0 true 06766423 2023-05-01 2024-04-30 06766423 2024-04-30 06766423 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-04-30 06766423 core:CurrentFinancialInstruments 2024-04-30 06766423 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 06766423 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 06766423 core:OtherResidualIntangibleAssets 2024-04-30 06766423 core:FurnitureFittingsToolsEquipment 2024-04-30 06766423 core:LandBuildings 2024-04-30 06766423 core:OtherPropertyPlantEquipment 2024-04-30 06766423 bus:SmallEntities 2023-05-01 2024-04-30 06766423 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06766423 bus:FilletedAccounts 2023-05-01 2024-04-30 06766423 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06766423 bus:RegisteredOffice 2023-05-01 2024-04-30 06766423 bus:Director1 2023-05-01 2024-04-30 06766423 bus:Director2 2023-05-01 2024-04-30 06766423 bus:Director3 2023-05-01 2024-04-30 06766423 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06766423 core:IntangibleAssetsOtherThanGoodwill 2023-05-01 2024-04-30 06766423 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 06766423 core:LandBuildings 2023-05-01 2024-04-30 06766423 core:OfficeEquipment 2023-05-01 2024-04-30 06766423 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 06766423 core:PlantMachinery 2023-05-01 2024-04-30 06766423 countries:EnglandWales 2023-05-01 2024-04-30 06766423 2023-04-30 06766423 core:OtherResidualIntangibleAssets 2023-04-30 06766423 core:FurnitureFittingsToolsEquipment 2023-04-30 06766423 core:LandBuildings 2023-04-30 06766423 core:OtherPropertyPlantEquipment 2023-04-30 06766423 2022-05-01 2023-04-30 06766423 2023-04-30 06766423 core:CurrentFinancialInstruments 2023-04-30 06766423 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 06766423 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 06766423 core:FurnitureFittingsToolsEquipment 2023-04-30 06766423 core:LandBuildings 2023-04-30 06766423 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 06766423

W & PE Gosling & Son Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

W & PE Gosling & Son Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

W & PE Gosling & Son Limited

Company Information

Directors

Mr D W Gosling

Mr W Gosling

Mrs P E Gosling

Registered office

The Old Vicarage
51 Saint John Street
Ashbourne
Derbyshire
DE6 1GP

Accountants

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

 

W & PE Gosling & Son Limited

(Registration number: 06766423)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

190,793

204,317

Other financial assets

6

100,180

97,403

 

290,973

301,720

Current assets

 

Stocks

261,155

283,800

Debtors

7

37,891

25,254

Cash at bank and in hand

 

1,079,424

995,281

 

1,378,470

1,304,335

Creditors: Amounts falling due within one year

8

(118,080)

(130,474)

Net current assets

 

1,260,390

1,173,861

Total assets less current liabilities

 

1,551,363

1,475,581

Creditors: Amounts falling due after more than one year

8

(428,651)

(405,399)

Provisions for liabilities

(37,061)

(40,000)

Net assets

 

1,085,651

1,030,182

Capital and reserves

 

Called up share capital

100

100

Other reserves

80,000

80,000

Retained earnings

1,005,551

950,082

Shareholders' funds

 

1,085,651

1,030,182

 

W & PE Gosling & Son Limited

(Registration number: 06766423)
Balance Sheet as at 30 April 2024 (continued)

For the financial year ending 30 April 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.

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 23 December 2024 and signed on its behalf by:
 

.........................................
Mr W Gosling
Director

   
     
 

W & PE Gosling & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 06766423.

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

These financial statements were authorised for issue by the Board on 23 December 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and livestock sold, services rendered and other farming receipts in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:

The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

W & PE Gosling & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Plant and machinery

15% Reducing balance

Office equipment

33% Straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible assets

30% straight line basis

 

W & PE Gosling & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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.

An election has been made to tax herds and flocks on the herd basis.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 3).

 

W & PE Gosling & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 May 2023

25,966

25,966

At 30 April 2024

25,966

25,966

Amortisation

At 1 May 2023

25,966

25,966

At 30 April 2024

25,966

25,966

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

70,217

268

633,892

704,377

Additions

-

-

15,100

15,100

Disposals

-

-

(3,194)

(3,194)

At 30 April 2024

70,217

268

645,798

716,283

Depreciation

At 1 May 2023

24,860

268

474,932

500,060

Charge for the year

2,809

-

25,511

28,320

Eliminated on disposal

-

-

(2,890)

(2,890)

At 30 April 2024

27,669

268

497,553

525,490

Carrying amount

At 30 April 2024

42,548

-

148,245

190,793

At 30 April 2023

45,357

-

158,960

204,317

 

W & PE Gosling & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

5

Tangible assets (continued)

Included within the net book value of land and buildings above is £42,549 (2023 - £45,357) in respect of freehold land and buildings.
 

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 May 2023

97,403

97,403

Additions

2,777

2,777

At 30 April 2024

100,180

100,180

Impairment

Carrying amount

At 30 April 2024

100,180

100,180

7

Debtors

Current

2024
£

2023
£

Trade debtors

31,124

20,279

Prepayments

1,409

1,430

Other debtors

5,358

3,545

 

37,891

25,254

 

W & PE Gosling & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

26,835

16,664

Taxation and social security

38,011

53,154

Accruals and deferred income

9,863

14,008

Other creditors

43,371

46,648

118,080

130,474

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other creditors

428,651

405,399

9

Related party transactions

Other transactions with directors

The company operates rent free from premises owned by the directors.