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REGISTERED NUMBER: 12450684 (England and Wales)











































C W Farming Limited

Unaudited Financial Statements

for the period

31st May 2023 to 31st March 2024






C W Farming Limited (Registered number: 12450684)






Contents of the Financial Statements
for the period 31st May 2023 to 31st March 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


C W Farming Limited

Company Information
for the period 31st May 2023 to 31st March 2024







Directors: R M Fleming
Mrs I S Fleming
R J Fleming
D M Fleming





Registered office: Clarabad Farmhouse
Clarabad Farm
Berwick Upon Tweed
Northumberland
TD15 1TJ





Registered number: 12450684 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

C W Farming Limited (Registered number: 12450684)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 695 4,183
Tangible assets 5 1,776,122 1,783,452
1,776,817 1,787,635

Current assets
Stocks 68,184 213,444
Debtors 6 185,751 82,899
Cash at bank 2,270 2,781
256,205 299,124
Creditors
Amounts falling due within one year 7 76,107 82,518
Net current assets 180,098 216,606
Total assets less current liabilities 1,956,915 2,004,241

Creditors
Amounts falling due after more than one
year

8

(1,838,284

)

(1,846,542

)

Provisions for liabilities (10,299 ) (12,147 )
Net assets 108,332 145,552

Capital and reserves
Called up share capital 100 100
Retained earnings 108,232 145,452
108,332 145,552

C W Farming Limited (Registered number: 12450684)

Balance Sheet - continued
31st March 2024


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

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

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 4th March 2025 and were signed on its behalf by:





D M Fleming - Director


C W Farming Limited (Registered number: 12450684)

Notes to the Financial Statements
for the period 31st May 2023 to 31st March 2024

1. Statutory information

C W Farming 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.

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.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer.

In respect of long term contracts and contracts for on-going services, turnover is recognised to the extent that the company obtains a right to consideration as contract activity progresses.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

BPS Entitlements are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors,trade creditors, accruals, bank loans, other loans, hire purchase contracts and directors' loans.

Bank loans and hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), other loans, trade creditors,trade debtors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss in the Statement of Income and Retained Earnings.


C W Farming Limited (Registered number: 12450684)

Notes to the Financial Statements - continued
for the period 31st May 2023 to 31st March 2024

2. Accounting policies - continued
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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the period was 1 (2023 - 1 ) .

C W Farming Limited (Registered number: 12450684)

Notes to the Financial Statements - continued
for the period 31st May 2023 to 31st March 2024

4. Intangible fixed assets
BPS
Entitlemen
£   
Cost
At 31st May 2023
and 31st March 2024 16,738
Amortisation
At 31st May 2023 12,555
Amortisation for period 3,488
At 31st March 2024 16,043
Net book value
At 31st March 2024 695
At 30th May 2023 4,183

5. Tangible fixed assets
Freehold Plant and
property machinery Totals
£    £    £   
Cost
At 31st May 2023 1,721,919 68,156 1,790,075
Additions - 387 387
At 31st March 2024 1,721,919 68,543 1,790,462
Depreciation
At 31st May 2023 - 6,623 6,623
Charge for period - 7,717 7,717
At 31st March 2024 - 14,340 14,340
Net book value
At 31st March 2024 1,721,919 54,203 1,776,122
At 30th May 2023 1,721,919 61,533 1,783,452

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors - 37,345
Other debtors 185,751 45,554
185,751 82,899

C W Farming Limited (Registered number: 12450684)

Notes to the Financial Statements - continued
for the period 31st May 2023 to 31st March 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 9,791 9,196
Trade creditors 1,204 2,199
Taxation and social security 15,004 22,172
Other creditors 50,108 48,951
76,107 82,518

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 1,818,000 1,818,000
Hire purchase contracts 20,284 28,542
1,838,284 1,846,542

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after five years 1,818,000 1,818,000

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,818,000 1,818,000
Hire purchase contracts 30,075 37,738
1,848,075 1,855,738

The Agricultural Mortgage Corporation PLC holds a standard charge over Clarabad Farm, Paxton.

The HP liabilities are secured against the assets to which they relate.