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REGISTERED NUMBER: 01109624 (England and Wales)















ROY WARD (FARMS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






ROY WARD (FARMS) LIMITED (REGISTERED NUMBER: 01109624)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


ROY WARD (FARMS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: A W Ward
Mrs R V Thompson





REGISTERED OFFICE: Glebe Farm
Leadenham
Lincoln
Lincolnshire
LN5 0QY





REGISTERED NUMBER: 01109624 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

ROY WARD (FARMS) LIMITED (REGISTERED NUMBER: 01109624)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,817,253 1,637,420
1,817,253 1,637,420

CURRENT ASSETS
Valuation 467,437 563,994
Debtors 6 160,749 248,805
Cash at bank 81 80
628,267 812,879
CREDITORS
Amounts falling due within one year 7 856,999 880,197
NET CURRENT LIABILITIES (228,732 ) (67,318 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,588,521 1,570,102

CREDITORS
Amounts falling due after more than one year 8 (127,314 ) (184,248 )

PROVISIONS FOR LIABILITIES (172,015 ) (174,728 )
NET ASSETS 1,289,192 1,211,126

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,289,092 1,211,026
SHAREHOLDERS' FUNDS 1,289,192 1,211,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

ROY WARD (FARMS) LIMITED (REGISTERED NUMBER: 01109624)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 25 March 2025 and were signed on its behalf by:





A W Ward - Director


ROY WARD (FARMS) LIMITED (REGISTERED NUMBER: 01109624)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Roy Ward (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.

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.

Revenue
Revenue represents the fair value of net invoiced sales of produce excluding value added tax.

Sales of produce are recognised upon despatch.

Intangible assets
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on reducing balance
Short leasehold - 10% on reducing balance
Plant and machinery - at variable rates on reducing balance
Motor vehicles - 25% on reducing balance
Renewable energy equipment - 5% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories
The valuation is stated at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


ROY WARD (FARMS) LIMITED (REGISTERED NUMBER: 01109624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

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.

Basic payment
The Basic Payment is recognised in the financial statements in accordance with current H. M. Revenue & Customs guidance.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Entitlements
£   
COST
At 1 October 2023
and 30 September 2024 66,493
AMORTISATION
At 1 October 2023
and 30 September 2024 66,493
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

ROY WARD (FARMS) LIMITED (REGISTERED NUMBER: 01109624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 984,942 2,135,730 3,120,672
Additions 203,939 136,100 340,039
Disposals - (82,405 ) (82,405 )
At 30 September 2024 1,188,881 2,189,425 3,378,306
DEPRECIATION
At 1 October 2023 82,961 1,400,291 1,483,252
Charge for year 11,059 115,118 126,177
Eliminated on disposal - (48,376 ) (48,376 )
At 30 September 2024 94,020 1,467,033 1,561,053
NET BOOK VALUE
At 30 September 2024 1,094,861 722,392 1,817,253
At 30 September 2023 901,981 735,439 1,637,420

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 103,591 149,255
Other debtors 57,158 99,550
160,749 248,805

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 570,689 589,994
Hire purchase contracts 86,819 100,949
Trade creditors 71,489 147,488
Taxation and social security 20,791 30,217
Other creditors 107,211 11,549
856,999 880,197

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 93,804 115,388
Hire purchase contracts 33,510 68,860
127,314 184,248

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 33,905 45,489

ROY WARD (FARMS) LIMITED (REGISTERED NUMBER: 01109624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 549,123 568,854
Bank loans 115,370 136,528
Hire purchase contracts 120,329 169,809
784,822 875,191

The bank loans and overdrafts are secured by legal mortgages over approximately 207 acres of the company's land. Hire purchase liabilities are secured on the asset to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Shares 1 100 100