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Registration number: 04481315

Winteringham Fields Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Winteringham Fields Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Winteringham Fields Limited

Company Information

Director

Mr C McGurran

Company secretary

Mrs R McGurran

Registered office

1 Silver Street
Winteringham
North Lincolnshire
DN15 9ND

 

Winteringham Fields Limited

(Registration number: 04481315)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

6,000

12,000

Tangible assets

5

682,840

708,568

 

688,840

720,568

Current assets

 

Stocks

74,360

74,360

Debtors

6

13,794

12,119

Cash at bank and in hand

 

2,737

2,736

 

90,891

89,215

Creditors: Amounts falling due within one year

7

(707,711)

(708,385)

Net current liabilities

 

(616,820)

(619,170)

Total assets less current liabilities

 

72,020

101,398

Creditors: Amounts falling due after more than one year

7

-

(62,453)

Provisions for liabilities

(7,416)

-

Net assets

 

64,604

38,945

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

63,604

37,945

Shareholders' funds

 

64,604

38,945

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 Director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 January 2025
 

 

Winteringham Fields Limited

(Registration number: 04481315)
Balance Sheet as at 31 July 2024

.........................................
Mr C McGurran
Director

 

Winteringham Fields Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Silver Street
Winteringham
North Lincolnshire
DN15 9ND

These financial statements were authorised for issue by the director on 24 January 2025.

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 financial statements have been prepared in sterling and are rounded to the nearest pound.

The financial statements cover the individual entity, Winteringham Fields Limited.

Summary of disclosure exemptions

The company has taken advantage of exmeption, under the terms of 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 not to disclose group accounts.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises 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.

 

Winteringham Fields Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% Reducing on reducing balance

Motor vehicles

25% on reducing balance

Fixtures and fittings

33% on reducing balance and 15% on reducing balance

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years

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:

Stocks

Stock has been estimated at the lower of cost and selling price less cost to sell.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Winteringham Fields Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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 the Director) during the year, was 32 (2023 - 34).

 

Winteringham Fields Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

120,000

120,000

At 31 July 2024

120,000

120,000

Amortisation

At 1 August 2023

108,000

108,000

Amortisation charge

6,000

6,000

At 31 July 2024

114,000

114,000

Carrying amount

At 31 July 2024

6,000

6,000

At 31 July 2023

12,000

12,000

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

877,936

518,281

10,000

1,406,217

At 31 July 2024

877,936

518,281

10,000

1,406,217

Depreciation

At 1 August 2023

253,531

437,216

6,902

697,649

Charge for the year

12,488

12,465

775

25,728

At 31 July 2024

266,019

449,681

7,677

723,377

Carrying amount

At 31 July 2024

611,917

68,600

2,323

682,840

At 31 July 2023

624,405

81,065

3,098

708,568

Included within the net book value of land and buildings above is £611,917 (2023 - £624,405) in respect of freehold land and buildings.
 

 

Winteringham Fields Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Debtors

Current

2024
£

2023
£

Prepayments

13,794

12,119

 

13,794

12,119

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and overdrafts

72,083

108,203

Trade creditors

 

54,939

31,890

Amounts owed to group undertakings

86,215

96,745

Taxation and social security

 

37,501

46,613

Other creditors

 

453,683

420,434

Accruals and deferred income

 

3,290

4,500

 

707,711

708,385


Creditors include a secured loan totalling £5,000 (2023 £20,000) this is secured against a personal gaurentee from the director and the overdraft totalling £67,083 (2023 £52,305) has been secured against the land and buildings owned by the company.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

-

62,453

 

Winteringham Fields Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Parent and ultimate parent undertaking

The Company's immediate parent is Kitana Holdings Limited, incorporated in England and Wales.

 

Registered office:

1 Silver Street
Winteringham
Scunthorpe
North Lincolnshire
DN15 9ND