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Registered number: 05979831
Warcombe Produce Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05979831
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,273,436 1,882,620
2,273,436 1,882,620
CURRENT ASSETS
Stocks 5 132,000 125,000
Debtors 6 191,183 271,782
Cash at bank and in hand 194,237 351,470
517,420 748,252
Creditors: Amounts Falling Due Within One Year 7 (1,304,004 ) (1,433,398 )
NET CURRENT ASSETS (LIABILITIES) (786,584 ) (685,146 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,486,852 1,197,474
Creditors: Amounts Falling Due After More Than One Year 8 (283,323 ) (130,414 )
NET ASSETS 1,203,529 1,067,060
CAPITAL AND RESERVES
Called up share capital 10 4 4
Profit and Loss Account 1,203,525 1,067,056
SHAREHOLDERS' FUNDS 1,203,529 1,067,060
Page 1
Page 2
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher LIDSTONE
Director
07/09/2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Warcombe Produce Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05979831 . The registered office is Warcombe Barn, Kingsbridge, Devon, TQ7 4BW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 25% Reducing Balance Basis
Plant & Machinery 20% Reducing Balance Basis
Motor Vehicles 25% Reducing Balance Basis
Fixtures & Fittings 25% Reducing Balance Basis
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2024: 11)
8 11
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2025 1,479,080 1,852,451 44,893 127,929 3,504,353
Additions 472,729 68,165 - 42,530 583,424
Disposals - (77,200 ) - - (77,200 )
As at 31 December 2025 1,951,809 1,843,416 44,893 170,459 4,010,577
Depreciation
As at 1 January 2025 336,250 1,185,708 20,896 78,879 1,621,733
Provided during the period 22,576 120,149 6,000 23,645 172,370
Disposals - (56,962 ) - - (56,962 )
As at 31 December 2025 358,826 1,248,895 26,896 102,524 1,737,141
Net Book Value
As at 31 December 2025 1,592,983 594,521 17,997 67,935 2,273,436
As at 1 January 2025 1,142,830 666,743 23,997 49,050 1,882,620
Page 4
Page 5
5. Stocks
2025 2024
£ £
Stock 132,000 125,000
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 131,304 167,619
Prepayments and accrued income 4,867 10,676
VAT 55,012 93,487
191,183 271,782
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 291,449 382,179
Bank loans and overdrafts 112,274 141,696
Corporation tax 76,920 102,850
Other taxes and social security 3,861 1,866
Other creditors 693 621
Pensions due - 327
Accruals and deferred income 4,039 4,620
Directors' loan accounts 814,768 799,239
1,304,004 1,433,398
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 122,769 130,414
Bank loans 160,554 -
283,323 130,414
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Later than five years 122,769 130,414
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 4 4
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