Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-3122023-09-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01329854 2023-09-01 2024-08-31 01329854 2022-09-01 2023-08-31 01329854 2024-08-31 01329854 2023-08-31 01329854 c:Director1 2023-09-01 2024-08-31 01329854 c:Director2 2023-09-01 2024-08-31 01329854 d:Buildings 2023-09-01 2024-08-31 01329854 d:Buildings 2024-08-31 01329854 d:Buildings 2023-08-31 01329854 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01329854 d:PlantMachinery 2023-09-01 2024-08-31 01329854 d:PlantMachinery 2024-08-31 01329854 d:PlantMachinery 2023-08-31 01329854 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01329854 d:MotorVehicles 2023-09-01 2024-08-31 01329854 d:MotorVehicles 2024-08-31 01329854 d:MotorVehicles 2023-08-31 01329854 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01329854 d:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 01329854 d:OtherPropertyPlantEquipment 2024-08-31 01329854 d:OtherPropertyPlantEquipment 2023-08-31 01329854 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01329854 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01329854 d:PatentsTrademarksLicencesConcessionsSimilar 2023-09-01 2024-08-31 01329854 d:PatentsTrademarksLicencesConcessionsSimilar 2024-08-31 01329854 d:PatentsTrademarksLicencesConcessionsSimilar 2023-08-31 01329854 d:CurrentFinancialInstruments 2024-08-31 01329854 d:CurrentFinancialInstruments 2023-08-31 01329854 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 01329854 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 01329854 d:ShareCapital 2024-08-31 01329854 d:ShareCapital 2023-08-31 01329854 d:RetainedEarningsAccumulatedLosses 2024-08-31 01329854 d:RetainedEarningsAccumulatedLosses 2023-08-31 01329854 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-08-31 01329854 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 01329854 c:FRS102 2023-09-01 2024-08-31 01329854 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 01329854 c:FullAccounts 2023-09-01 2024-08-31 01329854 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 01329854 2 2023-09-01 2024-08-31 01329854 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure
Registered number: 01329854









WAVENEY LODGE FARMS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2024

 
WAVENEY LODGE FARMS LIMITED
REGISTERED NUMBER:01329854

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
Restated 2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
658,230
662,640

  
658,230
662,640

Current assets
  

Debtors: amounts falling due within one year
 6 
7,552
7,567

Cash at bank and in hand
  
162,929
166,509

  
170,481
174,076

Creditors: amounts falling due within one year
 7 
(9,480)
(10,482)

Net current assets
  
 
 
161,001
 
 
163,594

Total assets less current liabilities
  
819,231
826,234

Provisions for liabilities
  

Deferred tax
  
(1,614)
(2,365)

  
 
 
(1,614)
 
 
(2,365)

Net assets
  
817,617
823,869


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
817,517
823,769

  
817,617
823,869


Page 1

 
WAVENEY LODGE FARMS LIMITED
REGISTERED NUMBER:01329854
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income statement 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: 




R J Lambert
M J Lambert
Director
Director


Date: 2 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WAVENEY LODGE FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Waveney Lodge Farms Limited is a private company limited by shares and incorporated in England and Wales, registration number 01329854. The registered office is Waveney Lodge, Falcon Lane, Ditchingham, Bungay, NR35 2JG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
WAVENEY LODGE FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WAVENEY LODGE FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Plant & machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Other fixed assets
-
10%
straight line

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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
WAVENEY LODGE FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Intangible assets




Entitlements

£





At 1 September 2023
13,642


Disposals
(13,642)



At 31 August 2024

-





At 1 September 2023
13,642


On disposals
(13,642)



At 31 August 2024

-



Net book value



At 31 August 2024
-



At 31 August 2023
-



Page 6

 
WAVENEY LODGE FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 September 2023
629,071
30,259
20,760
50,508
730,598



At 31 August 2024

629,071
30,259
20,760
50,508
730,598



Depreciation


At 1 September 2023
-
22,807
17,990
27,161
67,958


Charge for the year on owned assets
-
1,123
693
2,594
4,410



At 31 August 2024

-
23,930
18,683
29,755
72,368



Net book value



At 31 August 2024
629,071
6,329
2,077
20,753
658,230



At 31 August 2023
629,071
7,452
2,770
23,347
662,640

Page 7

 
WAVENEY LODGE FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Debtors

2024
2023
£
£


Trade debtors
2,098
2,098

Other debtors
1,554
2,005

Prepayments and accrued income
3,509
3,174

Tax recoverable
391
290

7,552
7,567



7.


Creditors: Amounts falling due within one year

2024
Restated 2023
£
£

Trade creditors
585
729

Corporation tax
178
-

Accruals and deferred income
8,717
9,753

9,480
10,482



8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
162,927
166,509




Financial assets measured at fair value through profit or loss comprise cash at bank.

Page 8

 
WAVENEY LODGE FARMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Prior year adjustment

During the year to 31 August 2023, dividends totalling £1,961 were paid. The dividend payments were not included in profit and loss reserves in the 2023 accounts, but were included in other creditors in error. 
The statement of financial position is restated to include the dividends paid withing the profit and loss reserves.
The original profit and loss reserves on 31 August 2023 were £825,730 and other creditors were (£1,961).
The restated profit and loss reserves on 31 August 2023 are £823,769 and other creditors are nil.


10.


Related party transactions

During the year the company made an advance to the directors of £300. The amount owing by the directors on 31 August 2024 was £1,176 (2023: £876). The loan is included in other debtors.
The loan is provided on an interest free basis.
During the year to 31 August 2024, the directors received rent payments totalling £3,297 (2023: £3,927) from the company for grassland and buildings used in the company trade. All transactions were at arm's length and under normal commercial terms.

 
Page 9