Registered number:
UNAUDITED
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023
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WANSDYKE FARMS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WANSDYKE FARMS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wansdyke Farms Limited for the year ended 31 December 2023 which comprise the Balance sheet and the related notes from the Company 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 at http://www.icaew.com /en/ members/regulations-standards-and-guidance/.
This report is made solely to the Board of directors of Wansdyke Farms Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Wansdyke Farms Limited and state those matters that we have agreed to state to the Board of directors of Wansdyke Farms Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wansdyke Farms Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Wansdyke Farms 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 profit or loss of Wansdyke Farms Limited. You consider that Wansdyke Farms Limited is exempt from the statutory audit requirement for the year.
Chartered Accountants
2 Communications Road
Greenham Business Park
Greenham
Berkshire
RG19 6AB
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WANSDYKE FARMS LIMITED
REGISTERED NUMBER: 01331303
BALANCE SHEET
AS AT 31 DECEMBER 2023
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WANSDYKE FARMS LIMITED
REGISTERED NUMBER: 01331303
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 9 form part of these financial statements.
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WANSDYKE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
The Company is a limited liability Company incorporated in England and Wales.
The registered office address is 2 Communications Road, Greenham Business Park, Newbury, Berkshire, RG19 6AB.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements are produced on the going concern basis as the directors consider that appropriate funds will continue to be available to enable the Company to meet its third party liabilities as they fall due.
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WANSDYKE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Broodmares are recognised at the lower of cost and net realisable value, being the estimated market value. Systematic depreciation is applied where applicable.
All other bloodstock is recognised at the lower of cost and net realisable value, being the estimated market value. Systematic depreciation is not applied as the Directors considered that assessment for impairment on an individual assets basis is more appropriate method of valuation. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell. The impairment loss is recognised immediately in profit or loss.
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WANSDYKE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Functional and presentation currency
Transactions and balances
Interest income is recognised in profit or loss using the effective interest method.
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WANSDYKE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
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WANSDYKE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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WANSDYKE FARMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
The ultimate parent Company and controlling party at the balance sheet date was
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