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REGISTERED NUMBER: 00356859 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

WHIPLEY MANOR FARM LIMITED

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WHIPLEY MANOR FARM LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A S Elliott
W D S Elliott





SECRETARY: L M S Fahy





REGISTERED OFFICE: Whipley Manor Farm
Palmers Cross
Bramley
Guildford
Surrey
GU5 0LL





REGISTERED NUMBER: 00356859 (England and Wales)





ACCOUNTANTS: Knox Cropper LLP
Chartered Accountants
Office Suite 1
Haslemere House
Lower Street
Haslemere
Surrey
GU27 2PE

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 922,747 868,487
Investments 5 7,000 7,000
Investment property 6 2,070,000 2,070,000
2,999,747 2,945,487

CURRENT ASSETS
Stocks 7 243,773 245,150
Debtors 8 18,545 18,080
Prepayments and accrued income 121,687 167,187
Cash at bank and in hand 263,768 153,838
647,773 584,255
CREDITORS
Amounts falling due within one year 9 513,909 513,096
NET CURRENT ASSETS 133,864 71,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,133,611

3,016,646

CREDITORS
Amounts falling due after more than one
year

10

(1,572,794

)

(1,617,018

)

PROVISIONS FOR LIABILITIES (306,264 ) (212,599 )
NET ASSETS 1,254,553 1,187,029

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,254,453 1,186,929
SHAREHOLDERS' FUNDS 1,254,553 1,187,029

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

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

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





A S Elliott - Director


WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


1. STATUTORY INFORMATION

Whipley Manor Farm 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The estimates and assumptions which have the most significant effect on amounts recognised in the financial statements are as follows:

Useful lives of depreciable assets

Management reviews its estimate of the useful lives of depreciable assets at each reporting date based on the expected utility of the assets. Uncertainties in these estimates relate to 'technological obsolescence' and any changes to the condition of motor vehicles and other plant and machinery. The accumulated depreciation at 31 May 2024 amounted to £358,597

Turnover
Turnover represents invoiced sales of goods and services. Turnover is recognised at the date that the service is provided. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Improvements to property2.5% reducing balance
Plant and machinery15% reducing balance and 25% straight line
Tractors15% reducing balance
Motor vehicles25% reducing balance


Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 June 2023 429,105 493,122 144,371
Additions - 4,947 73,125
At 31 May 2024 429,105 498,069 217,496
DEPRECIATION
At 1 June 2023 - 142,114 79,747
Charge for year - 11,754 20,938
At 31 May 2024 - 153,868 100,685
NET BOOK VALUE
At 31 May 2024 429,105 344,201 116,811
At 31 May 2023 429,105 351,008 64,624

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


4. TANGIBLE FIXED ASSETS - continued

Motor Work in
Tractors vehicles progress Totals
£    £    £    £   
COST
At 1 June 2023 79,150 43,692 - 1,189,440
Additions - - 13,832 91,904
At 31 May 2024 79,150 43,692 13,832 1,281,344
DEPRECIATION
At 1 June 2023 69,295 29,797 - 320,953
Charge for year 1,478 3,474 - 37,644
At 31 May 2024 70,773 33,271 - 358,597
NET BOOK VALUE
At 31 May 2024 8,377 10,421 13,832 922,747
At 31 May 2023 9,855 13,895 - 868,487

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023
and 31 May 2024 7,000
NET BOOK VALUE
At 31 May 2024 7,000
At 31 May 2023 7,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 2,070,000
NET BOOK VALUE
At 31 May 2024 2,070,000
At 31 May 2023 2,070,000

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


6. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2019 121,623
Valuation in 2021 237,365
Valuation in 2022 220,014
Cost 1,490,998
2,070,000

Investment property was valued on an open market basis on 31 May 2022 by the directors .

7. STOCKS
2024 2023
£    £   
Animal feed & stores 243,773 245,150

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,545 18,080

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 67,400 76,647
Hire purchase contracts 16,667 13,875
Trade creditors 207,434 218,595
Taxation and social security 46,629 39,473
Other creditors 175,779 164,506
513,909 513,096

Included in Other creditors at the year end date was £50,952 (2023: £50,952) owed to A S Elliott director of the company . The loan is interest free and there are no fixed terms for repayment.

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,546,345 1,617,018
Hire purchase contracts 26,449 -
1,572,794 1,617,018

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 813,670 1,252,313

WHIPLEY MANOR FARM LIMITED (REGISTERED NUMBER: 00356859)

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


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,613,745 1,693,665

The National Westminster bank has a legal charge against 240 acres of land at Whipley Manor Farm and a debenture against Whipley Manor Farm Limited.

12. OTHER FINANCIAL COMMITMENTS

In March 2024, Whipley Manor Farm Ltd entered into a hire purchase agreement with an option to purchase a JCB 532-60. As of 31 May 2024, the outstanding balance is £43,116, which is disclosed in the accounts under hire purchase liabilities, categorised as amounts falling due within one year and amounts falling due after more than one year.

The agreement involves monthly payments of £1,389, with the hire purchase liability secured against the asset.

This financial commitment has been disclosed in accordance with FRS 102 Section 1A, as it represents a significant financial obligation of the company.

13. OFF-BALANCE SHEET ARRANGEMENTS

The total amount of commitments at the year end date not provided in the balance sheet amounted to £472 (2023: £6,136).

14. RELATED PARTY DISCLOSURES

The company leases farmland and properties from a bare trust whose beneficiaries include A S Elliott ,
a director of the company during the year. The leasing charges are made on normal commercial
terms, and amounted to £63,100 (2023: £63,100) during the year under review.

15. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.