Vevers Limited 05735877 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is farming Digita Accounts Production Advanced 6.30.9574.0 true 05735877 2024-04-01 2025-03-31 05735877 2025-03-31 05735877 core:RetainedEarningsAccumulatedLosses 2025-03-31 05735877 core:ShareCapital 2025-03-31 05735877 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2025-03-31 05735877 core:CurrentFinancialInstruments 2025-03-31 05735877 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 05735877 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 05735877 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 05735877 core:OtherResidualIntangibleAssets 2025-03-31 05735877 core:LandBuildings 2025-03-31 05735877 core:MotorVehicles 2025-03-31 05735877 core:OtherPropertyPlantEquipment 2025-03-31 05735877 bus:SmallEntities 2024-04-01 2025-03-31 05735877 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 05735877 bus:FilletedAccounts 2024-04-01 2025-03-31 05735877 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 05735877 bus:RegisteredOffice 2024-04-01 2025-03-31 05735877 bus:Director1 2024-04-01 2025-03-31 05735877 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05735877 bus:Agent1 2024-04-01 2025-03-31 05735877 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 05735877 core:OtherResidualIntangibleAssets 2024-04-01 2025-03-31 05735877 core:LandBuildings 2024-04-01 2025-03-31 05735877 core:MotorVehicles 2024-04-01 2025-03-31 05735877 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 05735877 core:PlantMachinery 2024-04-01 2025-03-31 05735877 countries:EnglandWales 2024-04-01 2025-03-31 05735877 2024-03-31 05735877 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 05735877 core:OtherResidualIntangibleAssets 2024-03-31 05735877 core:LandBuildings 2024-03-31 05735877 core:MotorVehicles 2024-03-31 05735877 core:OtherPropertyPlantEquipment 2024-03-31 05735877 2023-04-01 2024-03-31 05735877 2024-03-31 05735877 core:RetainedEarningsAccumulatedLosses 2024-03-31 05735877 core:ShareCapital 2024-03-31 05735877 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 05735877 core:CurrentFinancialInstruments 2024-03-31 05735877 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05735877 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05735877 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 05735877 core:OtherResidualIntangibleAssets 2024-03-31 05735877 core:LandBuildings 2024-03-31 05735877 core:MotorVehicles 2024-03-31 05735877 core:OtherPropertyPlantEquipment 2024-03-31 iso4217:GBP xbrli:pure

REGISTRAR OF COMPANIES

Registration number: 05735877

Vevers Limited

Unaudited Financial Statements

31 March 2025

image-name

 

Vevers Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Vevers Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Vevers Limited for the year ended 31 March 2025 as set out on pages 2 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Vevers Limited, as a body, in accordance with the terms of our engagement letter dated 5 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of Vevers Limited and state those matters that we have agreed to state to the Board of Directors of Vevers Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vevers Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Vevers Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Vevers Limited. You consider that Vevers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Vevers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

16 July 2025

 

Vevers Limited

(Registration number: 05735877)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

16,669

40,698

Tangible assets

5

1,952,448

1,188,486

Other financial assets

6

60,074

59,367

 

2,029,191

1,288,551

Current assets

 

Stocks

635,430

550,620

Debtors

7

147,519

148,523

Investments

8

125

125

Cash at bank and in hand

 

99,770

230,384

 

882,844

929,652

Creditors: Amounts falling due within one year

9

(796,752)

(782,907)

Net current assets

 

86,092

146,745

Total assets less current liabilities

 

2,115,283

1,435,296

Creditors: Amounts falling due after more than one year

9

(32,488)

(7,231)

Provisions for liabilities

(347,357)

(144,226)

Net assets

 

1,735,438

1,283,839

Capital and reserves

 

Allotted, called up and fully paid share capital

110

110

Profit and loss account

1,735,328

1,283,729

Total equity

 

1,735,438

1,283,839

 

Vevers Limited

(Registration number: 05735877)
Balance Sheet as at 31 March 2025 (continued)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 July 2025
 

.........................................

R Vevers

Director

 

Vevers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
High Plains
Longtown
CARLISLE
CA6 5PY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Government grants

Government grants such as the basic payment scheme are included in the profit and loss account when all the necessary conditions for receipt have been met.


Other grants
Other grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets on a basis consistent with the depreciation policy.

 

Vevers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Basic payment scheme

The amount paid in connection with the purchase of the basic payment scheme entitlement was amortised over the useful economic life of that entitlement, and has now been fully amortised.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Not depreciated (land) and 10% reducing balance

Plant and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Other intangible fixed assets

Other intangible assets represent an investment in AMCo Common Consolidation which is a contractual requirement in order to benefit from the AMCo milk purchasing agreement. This investment is non refundable and is therefore being amortised over its useful life to the business. As there is no fixed period for the contract the directors have considered it appropriate to adopt an amortisation period of 5 years for the asset on a straight line basis. In addition an annual impairment review is performed.

Investments

Fixed asset investments represent an investment in AMCo Individual Consolidation which is a contractual requirement in order to benefit from the AMCo milk purchasing agreement. This investment is refundable and is stated at historical cost less provision for any diminution in value.

 

Vevers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Trading stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. The cost of livestock represents the purchase cost plus any additional costs of rearing the animal. Net realisable value is based on selling price less anticipated selling costs. Crop stock is valued at fair value less any anticipated costs to sell.

Herd stock is included in the balance sheet at the original cost of the herd adjusted annually for additions to, or disposals from the herd.

Additions to the herd are included at cost except where there is a reinstatement of disposals to the herd from the prior year. In this case they are reinstated at the prior year disposal value.

Disposals to the herd are disposed of at an average cost except where there have been additions to the herd in the prior year. In this case they are disposed of on a last in first out basis.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Vevers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2024 - 10).

 

Vevers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Intangible assets

Basic payment scheme
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2024

64,182

120,147

184,329

At 31 March 2025

64,182

120,147

184,329

Amortisation

At 1 April 2024

64,182

79,449

143,631

Amortisation charge

-

24,029

24,029

At 31 March 2025

64,182

103,478

167,660

Carrying amount

At 31 March 2025

-

16,669

16,669

At 31 March 2024

-

40,698

40,698

5

Tangible assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

538,571

1,598,187

23,995

2,160,753

Additions

52,061

835,249

18,495

905,805

Disposals

-

-

(10,495)

(10,495)

At 31 March 2025

590,632

2,433,436

31,995

3,056,063

Depreciation

At 1 April 2024

89,708

867,499

15,060

972,267

Charge for the year

23,941

111,962

1,512

137,415

Eliminated on disposal

-

-

(6,067)

(6,067)

At 31 March 2025

113,649

979,461

10,505

1,103,615

Carrying amount

At 31 March 2025

476,983

1,453,975

21,490

1,952,448

At 31 March 2024

448,863

730,688

8,935

1,188,486

 

Vevers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Other financial assets (current and non-current)

2025
£

2024
£

Non-current financial assets

Financial assets at cost less impairment

60,074

59,367

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2024

59,367

59,367

Additions

707

707

At 31 March 2025

60,074

60,074

Carrying amount

At 31 March 2025

60,074

60,074

At 31 March 2024

59,367

59,367

7

Debtors

2025
£

2024
£

Trade debtors

79,456

73,349

Other debtors

68,063

75,174

147,519

148,523

8

Current asset investments

2025
£

2024
£

Other investments

125

125

 

Vevers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

9

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10

527,796

491,410

Trade creditors

 

209,496

245,919

Taxation and social security

 

3,760

1,933

Corporation tax liability

 

9,761

12,092

Other creditors

 

45,939

31,553

 

796,752

782,907

Due after one year

 

Other creditors

 

32,488

7,231

10

Loans and borrowings

2025
£

2024
£

Current loans and borrowings

Other borrowings

527,796

491,410