Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 No description of principal activity 2024-04-01 false 7 7 true true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02310479 2024-04-01 2025-03-31 02310479 2023-04-01 2024-03-31 02310479 2025-03-31 02310479 2024-03-31 02310479 c:Director3 2024-04-01 2025-03-31 02310479 d:Buildings 2024-04-01 2025-03-31 02310479 d:Buildings 2025-03-31 02310479 d:Buildings 2024-03-31 02310479 d:Buildings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 02310479 d:MotorVehicles 2024-04-01 2025-03-31 02310479 d:MotorVehicles 2025-03-31 02310479 d:MotorVehicles 2024-03-31 02310479 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 02310479 d:OfficeEquipment 2024-04-01 2025-03-31 02310479 d:OfficeEquipment 2025-03-31 02310479 d:OfficeEquipment 2024-03-31 02310479 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 02310479 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 02310479 d:CurrentFinancialInstruments 2025-03-31 02310479 d:CurrentFinancialInstruments 2024-03-31 02310479 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 02310479 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 02310479 d:ShareCapital 2025-03-31 02310479 d:ShareCapital 2024-03-31 02310479 d:RevaluationReserve 2025-03-31 02310479 d:RevaluationReserve 2024-03-31 02310479 d:RetainedEarningsAccumulatedLosses 2025-03-31 02310479 d:RetainedEarningsAccumulatedLosses 2024-03-31 02310479 c:FRS102 2024-04-01 2025-03-31 02310479 c:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 02310479 c:FullAccounts 2024-04-01 2025-03-31 02310479 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02310479 5 2024-04-01 2025-03-31 02310479 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 02310479 WALLIS FARMS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
WALLIS FARMS LIMITED REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WALLIS FARMS 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 financial statements of Wallis Farms Limited for the year ended 31 March 2025 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html. This report is made solely to the Board of directors of Wallis Farms Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Wallis Farms Limited and state those matters that we have agreed to state to the Board of directors of Wallis Farms Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wallis Farms Limited and its Board of directors, as a body, for our work or for this report. It is your duty to ensure that Wallis Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wallis Farms Limited. You consider that Wallis Farms Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of Wallis Farms 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 financial statements. Alder Demain & Akers Ltd 2 Michael's Court Hanney Road Southmoor Oxfordshire OX13 5HR 21 October 2025 Page 1
WALLIS FARMS LIMITED REGISTERED NUMBER: 02310479 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 8,206,594 |  | 8,223,882
|  |  | 8,206,594 |  | 8,223,882
Current assets |  |  |  |  |
Stocks |  | 281,937 |  | 295,841 |
Debtors: amounts falling due within one year | 5 | 236,895 |  | 238,446 |
|  | 518,832 |  | 534,287 |
Creditors: amounts falling due within one year | 6 | (2,839,408) |  | (2,921,303) |
Net current liabilities |  |  | (2,320,576) |  | (2,387,016)
Total assets less current liabilities |  |  | 5,886,018 |  | 5,836,866
Net assets |  |  | 5,886,018 |  | 5,836,866
Page 2
WALLIS FARMS LIMITED REGISTERED NUMBER: 02310479 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 80,198 |  | 80,198
Revaluation reserve |  |  | 5,721,175 |  | 5,721,175
Profit and loss account |  |  | 84,645 |  | 35,493
|  |  | 5,886,018 |  | 5,836,866
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 October 2025.
Mrs H Wenden
Director
The notes on pages 4 to 9 form part of these financial statements. Page 3
WALLIS FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Wallis Farms Limited is a company limited by shares which was incorporated in England. The principal place of business is: Treworgan Farm Llangrove Ross-on-Wye Herefordshire HR9 6HB The company's principal activity is the provision of farming services. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied: Page 4
WALLIS FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 5
WALLIS FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Freehold land and buildings improvements | - |  | 4% straight line
|  |  |  | Motor vehicles and tractors | - | 20% | reducing balance
|  |  |  | Office equipment and implements | - | 15% | reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 6
WALLIS FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.9 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.10 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Employees
| The average monthly number of employees, including directors, during the year was 7 (2024 - 7).
Page 7
WALLIS FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Freehold property | Motor vehicles | Plant and Equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 April 2024 | 8,906,719 | 375,216 | 575,724 | 9,857,659
| Additions | - | - | 2,725 | 2,725
| At 31 March 2025 | 8,906,719 | 375,216 | 578,449 | 9,860,384
| Depreciation |  |  |  |
| At 1 April 2024 | 800,912 | 337,356 | 495,508 | 1,633,776
| Charge for the year on owned assets | - | 7,572 | 12,441 | 20,013
| At 31 March 2025 | 800,912 | 344,928 | 507,949 | 1,653,789
| Net book value |  |  |  |
| At 31 March 2025 | 8,105,807 | 30,288 | 70,500 | 8,206,595
| At 31 March 2024 | 8,105,807 | 37,860 | 80,215 | 8,223,882
Page 8
WALLIS FARMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 215,045 | 212,766
| Other debtors | 21,401 | 25,243
| Prepayments and accrued income | 449 | 437
|  | 236,895 | 238,446
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 402,755 | 408,988
| Bank loans | 2,184,897 | 2,288,147
| Trade creditors | 185,135 | 166,365
| Other taxation and social security | 7,794 | 1,923
| Obligations under finance lease and hire purchase contracts | 4,561 | 13,550
| Other creditors | 54,266 | 42,330
|  | 2,839,408 | 2,921,303
7. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,694 (2024 - £2,428) . Contributions totalling £NIL (2024 - £NIL) were payable to the fund at the balance sheet date and are included in creditors.
Page 9