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REGISTERED NUMBER: 01301188 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

W.T. Banks & Co (Farming) Limited

W.T. Banks & Co (Farming) Limited (Registered number: 01301188)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


W.T. Banks & Co (Farming) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: S Banks
Mrs E Banks





SECRETARY: Mrs E Banks





REGISTERED OFFICE: Wood Farm
Deeside Lane
Sealand
Chester
Cheshire
CH1 6BP





REGISTERED NUMBER: 01301188 (England and Wales)





ACCOUNTANTS: Cobhams Limited
Ground Floor
73 Liverpool Road
Crosby
Merseyside
L23 5SE

W.T. Banks & Co (Farming) Limited (Registered number: 01301188)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 28,841 28,841
Tangible assets 5 6,072,814 5,706,555
Investments 6 613,774 563,774
Investment property 7 903,691 903,691
7,619,120 7,202,861

CURRENT ASSETS
Stocks 307,802 1,117,802
Debtors 8 511,763 615,734
Cash at bank and in hand 65,674 3,353
885,239 1,736,889
CREDITORS
Amounts falling due within one year 9 730,300 909,994
NET CURRENT ASSETS 154,939 826,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,774,059

8,029,756

CREDITORS
Amounts falling due after more than one year 10 1,272,934 1,559,518
NET ASSETS 6,501,125 6,470,238

CAPITAL AND RESERVES
Called up share capital 200 200
Other reserves 208,796 208,796
Retained earnings 6,292,129 6,261,242
SHAREHOLDERS' FUNDS 6,501,125 6,470,238

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:



S Banks - Director


W.T. Banks & Co (Farming) Limited (Registered number: 01301188)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

W.T. Banks & Co (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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 5% on reducing balance
Plant and machinery etc - 33% on cost, 20% on cost and 15% on reducing balance

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.

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

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 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

W.T. Banks & Co (Farming) Limited (Registered number: 01301188)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 28,841
NET BOOK VALUE
At 30 June 2024 28,841
At 30 June 2023 28,841

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 3,522,061 5,239,123 8,761,184
Additions 103,962 1,792,183 1,896,145
Disposals - (1,453,250 ) (1,453,250 )
At 30 June 2024 3,626,023 5,578,056 9,204,079
DEPRECIATION
At 1 July 2023 415,786 2,638,843 3,054,629
Charge for year 30,808 539,756 570,564
Eliminated on disposal - (493,928 ) (493,928 )
At 30 June 2024 446,594 2,684,671 3,131,265
NET BOOK VALUE
At 30 June 2024 3,179,429 2,893,385 6,072,814
At 30 June 2023 3,106,275 2,600,280 5,706,555

W.T. Banks & Co (Farming) Limited (Registered number: 01301188)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 1,254,000
Disposals (781,000 )
At 30 June 2024 473,000
DEPRECIATION
At 1 July 2023 271,613
Charge for year 56,138
Eliminated on disposal (200,663 )
At 30 June 2024 127,088
NET BOOK VALUE
At 30 June 2024 345,912
At 30 June 2023 982,387

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.6.24 30.6.23
£    £   
Shares in racehorses 613,774 563,774

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 903,691
NET BOOK VALUE
At 30 June 2024 903,691
At 30 June 2023 903,691

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 321,991 401,821
Other debtors 189,772 213,913
511,763 615,734

W.T. Banks & Co (Farming) Limited (Registered number: 01301188)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts - 330,011
Hire purchase contracts 22,109 115,028
Trade creditors 660,880 279,912
Taxation and social security 3,012 126,528
Other creditors 44,299 58,515
730,300 909,994

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 1,241,656 1,413,212
Hire purchase contracts 31,278 146,306
1,272,934 1,559,518

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,241,656 1,413,212