Wharfedale Farmers'Auction Mart Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Wharfedale Farmers'Auction Mart Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00038191 . The registered office is Chevin Lodge, Leeds Road, Otley, LS21 3BD.

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. Significant judgements and estimations

In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities which are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

2.3. Turnover

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 at the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes and other sales taxes. The following criteria must be met before revenue is recognised:

Rendering of services

Revenue from the rendering of services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied:

the amount of revenue can be measured reliably;
it is probable 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.

2.4. 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	2.5% reducing balance
Plant & Machinery	15% straight line
Office Equipment	25% straight line

2.5. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

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Wharfedale Farmers'Auction Mart Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

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.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 16 (2025: 17)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 April 2025	79,952	141,764	221,716
Additions	-	18,142	18,142
Disposals	-	(8,217 )	(8,217 )

As at 31 March 2026	79,952	151,689	231,641

Depreciation
As at 1 April 2025	35,473	120,925	156,398
Provided during the period	186	6,540	6,726
Disposals	-	(8,217 )	(8,217 )

As at 31 March 2026	35,659	119,248	154,907

Net Book Value
As at 31 March 2026	44,293	32,441	76,734

As at 1 April 2025	44,479	20,839	65,318

5. Investment Property

	2026
	£
Fair Value
As at 1 April 2025 and 31 March 2026	829,150

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Wharfedale Farmers'Auction Mart Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	1,042,600	1,218,615
Other debtors	19,071	15,112

	1,061,671	1,233,727

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	5,946	255,473
Other creditors	24,961	23,579
Taxation and social security	72,031	66,591

	102,938	345,643

8. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	94,540	94,540

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	354	708
Later than one year and not later than five years	-	354

	354	1,062

10. Reserves

	Other reserves	Fair value reserve	Profit and Loss Account
	£	£	£
As at 1 April 2025	165,771	242,968	1,761,556
Profit for the year and total comprehensive income	-	-	195,750

Dividends paid	-	-	(18,908)
Transfer to/from Other Reserves	-	-	(15,801)
Transfer to/from Profit & Loss Account	15,801	-	-

As at 31 March 2026	181,572	242,968	1,922,597

11. Related Party Transactions

Various directors traded with the company during the year. Total stock sold amounted to £1,369,123, stock purchased amounted to £242,051 and the directors paid total commission of £27,152. The company's normal commercial terms apply. During the year the directors received dividends totalling £451.

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Wharfedale Farmers'Auction Mart Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

12. Audit Information

The auditor's report on the accounts of Wharfedale Farmers'Auction Mart Limited for the year ended 31 March 2026 was unqualified.

The auditor's report was signed by Richard Smedley (Senior Statutory Auditor) for and on behalf of Richard Smedley Limited , Statutory Auditor.

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Leeds

LS16 6QY

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		76,734		65,318
Investment Properties	5		829,150		829,150

			905,884		894,468
CURRENT ASSETS
Debtors	6	1,061,671		1,233,727
Cash at bank and in hand		644,936		547,259

		1,706,607		1,780,986
Creditors: Amounts Falling Due Within One Year	7	(102,938 )		(345,643 )

NET CURRENT ASSETS (LIABILITIES)			1,603,669		1,435,343

TOTAL ASSETS LESS CURRENT LIABILITIES			2,509,553		2,329,811

PROVISIONS FOR LIABILITIES
Deferred Taxation			(67,876 )		(64,976 )

NET ASSETS			2,441,677		2,264,835

CAPITAL AND RESERVES
Called up share capital	8		94,540		94,540
Other reserves			181,572		165,771
Fair value reserve	10		242,968		242,968
Profit and Loss Account			1,922,597		1,761,556

SHAREHOLDERS' FUNDS			2,441,677		2,264,835