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REGISTERED NUMBER: 05027160 (England and Wales)















Unaudited Financial Statements

for the Period 1 January 2023 to 31 March 2024

for

Waen Farms Limited

Waen Farms Limited (Registered number: 05027160)

Contents of the Financial Statements
for the Period 1 January 2023 to 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Waen Farms Limited

Company Information
for the Period 1 January 2023 to 31 March 2024







DIRECTORS: D L Jones
Mrs L J Jones





SECRETARY: Mrs L J Jones





REGISTERED OFFICE: Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY





REGISTERED NUMBER: 05027160 (England and Wales)





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

Waen Farms Limited (Registered number: 05027160)

Balance Sheet
31 March 2024

31.3.24 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,515,599 3,396,519

CURRENT ASSETS
Debtors 6 705,162 544,793
Cash at bank 26,505 23,503
731,667 568,296
CREDITORS
Amounts falling due within one year 7 1,930,949 1,065,761
NET CURRENT LIABILITIES (1,199,282 ) (497,465 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,316,317

2,899,054

CREDITORS
Amounts falling due after more than one
year

8

(2,041,221

)

(2,605,347

)

PROVISIONS FOR LIABILITIES (7,026 ) -
NET ASSETS 268,070 293,707

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings 268,065 293,702
SHAREHOLDERS' FUNDS 268,070 293,707

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

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

Waen Farms Limited (Registered number: 05027160)

Balance Sheet - 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 7 February 2025 and were signed on its behalf by:





D L Jones - Director


Waen Farms Limited (Registered number: 05027160)

Notes to the Financial Statements
for the Period 1 January 2023 to 31 March 2024


1. STATUTORY INFORMATION

Waen Farms 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 represents income from furnished holiday letting and farming activities, net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the period 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

Waen Farms Limited (Registered number: 05027160)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 2,779,150 623,858 3,403,008
Additions - 124,518 124,518
At 31 March 2024 2,779,150 748,376 3,527,526
DEPRECIATION
At 1 January 2023 - 6,489 6,489
Charge for period - 5,438 5,438
At 31 March 2024 - 11,927 11,927
NET BOOK VALUE
At 31 March 2024 2,779,150 736,449 3,515,599
At 31 December 2022 2,779,150 617,369 3,396,519

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.12.22
£    £   
Trade debtors - 3,125
Other debtors 705,162 541,668
705,162 544,793

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.12.22
£    £   
Bank loans and overdrafts 94,134 133,624
Trade creditors 1,836,815 932,137
1,930,949 1,065,761

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.12.22
£    £   
Bank loans 2,041,221 2,605,347

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,560,907 2,056,265
Bounce back loan 9,646 14,586
1,570,553 2,070,851

Waen Farms Limited (Registered number: 05027160)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.12.22
£    £   
Bank loans 2,135,355 2,738,971

The bank loan and overdraft facility are secured as follows:-

A fixed and floating charge over all property and undertaking of Waen Farms Limited.

A legal mortgage over the freehold property known as The Waen, Felindre, Knighton, Powys. Land registry title numbers CYM307625 and CYM314548.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Unlimited Company Guarantee given by associated companies DLJ Limited and Trevoil Farms Limited to secure all liabilities of this company.