Registered number
06510209
Wright Farm Produce Limited
Filleted Accounts
31 March 2025
Wright Farm Produce Limited
Registered number: 06510209
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,077,969 1,109,717
Current assets
Stocks 319,203 264,991
Debtors 4 115,522 139,531
Cash at bank and in hand 498 219
435,223 404,741
Creditors: amounts falling due within one year 5 (898,212) (1,040,600)
Net current liabilities (462,989) (635,859)
Total assets less current liabilities 614,980 473,858
Creditors: amounts falling due after more than one year 6 (6,268) (16,715)
Provisions for liabilities (137,433) (128,548)
Net assets 471,279 328,595
Capital and reserves
Called up share capital 200 200
Profit and loss account 471,079 328,395
Shareholders' funds 471,279 328,595
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Wright
Director
Approved by the board on 6 August 2025
Wright Farm Produce Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 5% on reducing balance
Leasehold land and buildings 5% on reducing balance
Plant and machinery 10% on reducing balance
Motor vehicles 20% on reducing balance
Computer equipment 20% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 45 46
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 431,229 1,862,100 90,690 2,384,019
Additions - 57,715 19,990 77,705
Disposals - (16,800) (6,350) (23,150)
At 31 March 2025 431,229 1,903,015 104,330 2,438,574
Depreciation
At 1 April 2024 79,507 1,125,131 69,664 1,274,302
Charge for the year 8,923 78,193 7,925 95,041
On disposals - (3,777) (4,961) (8,738)
At 31 March 2025 88,430 1,199,547 72,628 1,360,605
Net book value
At 31 March 2025 342,799 703,468 31,702 1,077,969
At 31 March 2024 351,722 736,969 21,026 1,109,717
4 Debtors 2025 2024
£ £
Trade debtors 46,103 95,120
Taxation 18,562 12,101
Other debtors 50,857 32,310
115,522 139,531
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 115,666 148,440
Obligations under finance lease and hire purchase contracts - 29,792
Trade creditors 157,432 213,441
Taxation and social security costs 11,391 7,127
Other creditors 613,723 641,800
898,212 1,040,600
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 6,268 16,715
7 Other information
Wright Farm Produce Limited is a private company limited by shares and incorporated in England. Its registered office is:
Rutland
Taylors Meanygate
Tarleton, Preston
Lancashire
PR4 6XB
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