| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st March 2025 |
| for |
| W Leslie Caley Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st March 2025 |
| for |
| W Leslie Caley Limited |
| W Leslie Caley Limited (Registered number: 00547237) |
| Contents of the Financial Statements |
| for the year ended 31st March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| W Leslie Caley Limited |
| Company Information |
| for the year ended 31st March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Regent's Court |
| Princess Street |
| Hull |
| East Yorkshire |
| HU2 8BA |
| W Leslie Caley Limited (Registered number: 00547237) |
| Balance Sheet |
| 31st March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| Investment property | 7 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| W Leslie Caley Limited (Registered number: 00547237) |
| Balance Sheet - continued |
| 31st March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| W Leslie Caley Limited (Registered number: 00547237) |
| Notes to the Financial Statements |
| for the year ended 31st March 2025 |
| 1. | STATUTORY INFORMATION |
| W Leslie Caley Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover represents sales of farm produce, livestock, farm subsidies and contracting services, net of VAT and trade discounts. Turnover is recognised when the economic risks and rewards pass to third parties. |
| Intangible fixed assets |
| Basic Payment Scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the entitlement had been fully amortised. The original Basic Payment Scheme commenced in 2015 and ceased in the year ended 31 December 2021. |
| Entitlements acquired via the ownership of existing land, and therefore have no cost, have been revalued to fair value on transition to FRS102, which has subsequently been treated as their deemed cost, and are being amortised over their expected useful life in accordance with the above period of benefit expected from the basic payment scheme. |
| Provision is made for any impairment. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation |
| Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives. |
| The annual rates used are as follows: |
| Freehold land | Nil |
| Freehold buildings | 10% on cost |
| Plant and equipment | Between 10% and 15% on cost |
| Motor Vehicles | 15% on cost |
| Investment property |
| Investment properties for which fair value can be measured reliably are measured at fair value at each reporting date with changes in fair value recognised in profit and loss account. |
| W Leslie Caley Limited (Registered number: 00547237) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is estimated selling price in the ordinary course of business, less applicable variable selling expenses. |
| Current & deferred tax |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 and other future taxable profits. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
| Debtors and creditors receivable/ payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
| Government grants |
| Amounts receivable under the Common Agriculture Policy subsidy schemes are recognised as income in the profit and loss account when the eligibility criteria have been satisfied at the end of the scheme year. |
| W Leslie Caley Limited (Registered number: 00547237) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Investments |
| Investments are measured at fair value, with changes in fair value recognised in the profit and loss account, if the shares are publicly traded or if the fair value can otherwise be measured reliably. When it is not possible to measure fair value reliably, these investments shall instead be measured at cost less impairment. |
| Hire purchase and leasing commitments |
| Tangible fixed assets acquired under hire purchase agreements are capitalised at the estimated fair value at the date of inception of each contract. The finance charges are allocated over the period of the contract in accordance with the effective interest rate method. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1st April 2024 |
| and 31st March 2025 |
| AMORTISATION |
| At 1st April 2024 |
| and 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| W Leslie Caley Limited (Registered number: 00547237) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Implements |
| Freehold | Farm | and motor |
| land | buildings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31st March 2025 |
| DEPRECIATION |
| At 1st April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| 6. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 2025 | 2024 |
| £ | £ |
| BATA | 5,262 | 5,000 |
| Pea quota | 1 | 1 |
| 5,263 | 5,001 |
| 7. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st April 2024 |
| and 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| VAT |
| Prepayments and accrued income |
| W Leslie Caley Limited (Registered number: 00547237) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2025 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Secured loans |
| Hire purchase contracts (see note 11) |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Directors' loan accounts | 50,000 | 50,563 |
| Accruals and deferred income |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Secured loans | 44,506 | 46,257 |
| Secured loans due between 2 and 5 years |
90,107 |
97,297 |
| Secured loans due over 5 years |
| Hire purchase contracts (see note 11) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Secured loans due over 5 years | 207,376 | 246,641 |
| 11. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| 12. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Secured loans |
| The loans are subject to a legal charge of £400,000 over the company's freehold land and buildings. |