REGISTERED NUMBER: 00792977 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Watchingwell Farms Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Billings

C J Billings

R J Billings

S J Billings

SECRETARY:

S J Billings

REGISTERED OFFICE:

Gay Dawn Offices

Pennis Lane

Fawkham

Longfield

Kent

DA3 8LY

REGISTERED NUMBER:

00792977 (England and Wales)

FIXED ASSETS

Property, plant and equipment

4

1,532,635

1,798,601

Investment property

5

4,995,576

4,995,576

6,528,211

6,794,177

CURRENT ASSETS

Inventories

517,787

421,511

Debtors

6

359,963

223,260

Cash at bank

5,056

42,716

882,806

687,487

CREDITORS

Amounts falling due within one year

7

299,412

441,319

NET CURRENT ASSETS

583,394

246,168

TOTAL ASSETS LESS CURRENT LIABILITIES

7,111,605

7,040,345

CREDITORS

Amounts falling due after more than one year

8

(5,759

)

(80,344

)

PROVISIONS FOR LIABILITIES

10

(673,544

)

(675,550

)

NET ASSETS

6,432,302

6,284,451

CAPITAL AND RESERVES

Called up share capital

11

80,010

80,010

Fair value reserve

12

2,160,521

2,160,521

Retained earnings

12

4,191,771

4,043,920

SHAREHOLDERS' FUNDS

6,432,302

6,284,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 29 May 2025 and were signed on its behalf by:

A J Billings - Director

1.	STATUTORY INFORMATION

Watchingwell 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 as modified by the revaluation of certain assets.

Turnover

Revenue 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

Property, plant and equipment are valued at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates to write off each asset over its estimated useful life:

Plant, equipment and motor vehicles

15% on reducing balance basis

Investment property

The company carries its investment property at fair value, with changes in fair value being recognised in profit or loss. The fair value at 31 December 2024 of the properties has been determined by the directors of the company. The directors have adopted a valuation model based upon a multiple of the gross rental income adjusted where appropriate for any individual property market considerations. The directors over-ride their valuation model where independent valuation specialists have been engaged.

Inventories

Inventories are valued at the lower of cost and estimated selling price less costs to the point of sale.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2024

2,564,735

Additions

3,872

At 31 December 2024

2,568,607

DEPRECIATION

At 1 January 2024

766,134

Charge for year

269,838

At 31 December 2024

1,035,972

NET BOOK VALUE

At 31 December 2024

1,532,635

At 31 December 2023

1,798,601

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

4,995,576

NET BOOK VALUE

At 31 December 2024

4,995,576

At 31 December 2023

4,995,576

Investment properties are stated in the balance sheet at their aggregate fair value based on valuations carried out at 31 December 2024 by the directors. If investment property had not been revalued it would have been included at the historical cost of £1,544,570 (2023- £ 1,544,570).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

174,979

143,105

Amounts owed by group undertakings

131,267

20,000

Other debtors

53,717

60,155

359,963

223,260

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

9,868

9,870

Hire purchase contracts

64,548

126,029

Trade creditors

50,863

39,657

Amounts owed to group undertakings

-

91,590

Taxation and social security

4,635

4,797

Other creditors

169,498

169,376

299,412

441,319

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,759

15,866

Hire purchase contracts

-

64,478

5,759

80,344

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

64,548

190,507

Nature of Security

The hire purchase contracts are secured by the financed assets.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

11,364

13,370

Fair value adjustments -

unrealised surplus on

revaluation of properties

662,180

662,180

673,544

675,550

Deferred

tax

£

Balance at 1 January 2024

675,550

Provided during year

(2,006

)

Balance at 31 December 2024

673,544

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

£

£

80,010

Ordinary

£1

80,010

80,010

12.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2024

4,043,920

2,160,521

6,204,441

Profit for the year

147,851

147,851

At 31 December 2024

4,191,771

2,160,521

6,352,292

13.	CONTINGENT LIABILITIES

C Hoare & Co

The company is a guarantor for guarantees provided to C Hoare & Co. for a maximum of £4,510,000 dated 26.11.2021 in respect of the bank borrowings of F. C. Stark. The guarantees are supported by legal charges granted over the company's investment properties.

14.	RELATED PARTY DISCLOSURES

15.	PARENT COMPANY

The parent company is F.C. Stark Limited.