Manor Farm Whitsbury Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Manor Farm Whitsbury Limited

Balance Sheet

31 August 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	567,840	295,734
Other financial assets	6	1	1
		567,841	295,735
Current assets
Stocks	7	712,018	682,119
Debtors	8	163,060	131,145
Cash at bank and in hand		171,906	16,015
		1,046,984	829,279
Creditors: Amounts falling due within one year	9	(999,036)	(762,033)
Net current assets		47,948	67,246
Total assets less current liabilities		615,789	362,981
Provisions for liabilities		(93,013)	(29,657)
Net assets		522,776	333,324
Capital and reserves
Called up share capital	10	100	100
Profit and loss account		522,676	333,224
Shareholders' funds		522,776	333,324

Manor Farm Whitsbury Limited

Balance Sheet

31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 August 2025 and signed on its behalf by:
 

......................................... Mr J Dare Director

......................................... Mr C J Harper Director

Company Registration Number: 13430357

Manor Farm Whitsbury Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2024

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:
Estate Office
Manor Farm
Whitsbury
Fordingbridge
Hampshire
SP6 3QP

These financial statements were authorised for issue by the Board on 28 August 2025.

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.

Going concern

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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

Agricultural and environmental grants and subsidies are accounted for at the earlier of the date that obligations under the scheme have been met or end of scheme period.

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.

Manor Farm Whitsbury Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2024

The current corporation 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 on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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
Vehicles, plant and machinery	20% per annum, straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Manor Farm Whitsbury Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

Manor Farm Whitsbury Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2024

4

Taxation

Tax charged/(credited) in the profit and loss account

	2024  £	2023  £
Current taxation
UK corporation tax	-	(41,124)
UK corporation tax adjustment to prior periods	-	1,673
	-	(39,451)
Deferred taxation
Arising from origination and reversal of timing differences	63,356	30,095
Arising from changes in tax rates and laws	-	(84)
Total deferred taxation	63,356	30,011
Tax expense/(receipt) in the income statement	63,356	(9,440)

Factors that may affect future tax charges
Deferred tax has been measured using a long-term corporation rate of 25%, as this was the last rate substantively enacted before the period end

Manor Farm Whitsbury Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2024

5	Tangible assets

	Fixtures, fittings and equipment  £	Plant and machinery £	Total £
Cost or valuation
At 1 September 2023	10,047	439,703	449,750
Additions	30,139	375,316	405,455
At 31 August 2024	40,186	815,019	855,205
Depreciation
At 1 September 2023	502	153,514	154,016
Charge for the year	8,038	125,311	133,349
At 31 August 2024	8,540	278,825	287,365
Carrying amount
At 31 August 2024	31,646	536,194	567,840
At 31 August 2023	9,545	286,189	295,734

6	Other financial assets (current and non-current)

	Financial assets at cost less impairment £	Total £
Non-current financial assets
Cost or valuation
At 1 September 2023	1	1
At 31 August 2024	1	1
Impairment
Carrying amount
At 31 August 2024	1	1

7

Stocks

	2024 £	2023 £
Other inventories	712,018	682,119

Manor Farm Whitsbury Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2024

8

Debtors

	2024 £	2023 £
Trade debtors	89,821	61,989
Prepayments	37,003	6,958
Other debtors	36,236	62,198
	163,060	131,145

9

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	172,494	72,135
Taxation and social security	7,692	3,770
Accruals and deferred income	500,286	259,206
Other creditors	318,564	426,922
	999,036	762,033

10	Share capital

Allotted, called up and not fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Manor Farm Whitsbury Limited

Notes to the Unaudited Financial Statements

Year Ended 31 August 2024

11	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Later than one year and not later than five years	339,648	33,185
Later than five years	-	657,840
	339,648	691,025

The amount of non-cancellable operating lease payments recognised as an expense during the year was £118,588 (2023 - £128,521).