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REGISTERED NUMBER: 08047574 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31st March 2024

for

White House Livestock & Energy Limited

White House Livestock & Energy Limited (Registered number: 08047574)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


White House Livestock & Energy Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: R A Wastling
W R Wastling
Mrs A M Wastling
Mrs K J Wastling





REGISTERED OFFICE: Thirtleby Grange
Thirtleby
Coniston
East Yorkshire
HU11 4LL





REGISTERED NUMBER: 08047574 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

White House Livestock & Energy Limited (Registered number: 08047574)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,150 108,150
Tangible assets 5 6,127,072 3,971,444
Investment property 6 315,213 315,213
6,482,435 4,394,807

CURRENT ASSETS
Stocks 331,677 453,088
Debtors 7 1,095,913 1,149,070
Cash at bank and in hand 207,246 166,318
1,634,836 1,768,476
CREDITORS
Amounts falling due within one year 8 1,088,838 1,659,392
NET CURRENT ASSETS 545,998 109,084
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,028,433

4,503,891

CREDITORS
Amounts falling due after more than one
year

9

(5,310,870

)

(3,100,211

)

PROVISIONS FOR LIABILITIES (425,006 ) (418,629 )
NET ASSETS 1,292,557 985,051

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,292,457 984,951
SHAREHOLDERS' FUNDS 1,292,557 985,051

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

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

White House Livestock & Energy Limited (Registered number: 08047574)

Balance Sheet - continued
31st 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th December 2024 and were signed on its behalf by:





W R Wastling - Director


White House Livestock & Energy Limited (Registered number: 08047574)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

White House Livestock & Energy 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policy adopted for the recognition of turnover is as follows:

Sale of goods
Turnover from the sale of livestock is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the date the livestock was moved offsite.

Turnover from the sale of generated power, the associated Feed in Tariffs 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. This is usually on the basis of power supplied during the period, together with associated Feed in Tariffs.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a businesses in 2014, and 2020 are being amortised evenly over their estimated useful life of three and ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 5% on cost and 5% - 15%

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.

Investment properties for which fair value can be measured reliably are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The investment properties held were valued on an open market basis at 31 March 2023 by the directors.

White House Livestock & Energy Limited (Registered number: 08047574)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. ACCOUNTING POLICIES - continued

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

Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is estimated selling price in the ordinary course of business, less applicable variable selling expenses.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 680,000
AMORTISATION
At 1st April 2023 571,850
Charge for year 68,000
At 31st March 2024 639,850
NET BOOK VALUE
At 31st March 2024 40,150
At 31st March 2023 108,150

White House Livestock & Energy Limited (Registered number: 08047574)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st April 2023 1,019,691 904,481 3,301,114
Additions 2,261,240 - 125,585
At 31st March 2024 3,280,931 904,481 3,426,699
DEPRECIATION
At 1st April 2023 15,980 233,223 1,021,261
Charge for year 14,414 45,224 173,508
At 31st March 2024 30,394 278,447 1,194,769
NET BOOK VALUE
At 31st March 2024 3,250,537 626,034 2,231,930
At 31st March 2023 1,003,711 671,258 2,279,853

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st April 2023 3,967 22,000 5,251,253
Additions - 7,333 2,394,158
At 31st March 2024 3,967 29,333 7,645,411
DEPRECIATION
At 1st April 2023 795 8,550 1,279,809
Charge for year 795 4,589 238,530
At 31st March 2024 1,590 13,139 1,518,339
NET BOOK VALUE
At 31st March 2024 2,377 16,194 6,127,072
At 31st March 2023 3,172 13,450 3,971,444

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 315,213
NET BOOK VALUE
At 31st March 2024 315,213
At 31st March 2023 315,213

White House Livestock & Energy Limited (Registered number: 08047574)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 448,977 179,958
Other debtors 646,936 969,112
1,095,913 1,149,070

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 171,281 494,711
Hire purchase contracts 34,353 46,812
Trade creditors 651,405 634,253
Taxation and social security 150,876 131,876
Other creditors 80,923 351,740
1,088,838 1,659,392

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 5,295,252 3,063,180
Hire purchase contracts 15,618 31,031
Other creditors - 6,000
5,310,870 3,100,211

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,485,210 533,553

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 5,466,533 3,557,891
Hire purchase contracts 49,971 77,843
5,516,504 3,635,734

The bank loans and hire purchase liabilities are secured on the assets of the company.

11. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £19,000 (2023 £20,000) of which £1,000 (2023 £1,000) falls due for payment within one year.