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Unaudited Financial Statements for the Year Ended 31 July 2020 |
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White Rocks Farm Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 July 2020 |
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for |
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White Rocks Farm Limited |
White Rocks Farm Limited (Registered number: 07179605) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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White Rocks Farm Limited |
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Company Information |
for the Year Ended 31 July 2020 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Bank Chambers |
61 High Street |
Cranbrook |
Kent |
TN17 3EG |
White Rocks Farm Limited (Registered number: 07179605) |
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Balance Sheet |
31 July 2020 |
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31.7.20 | 31.7.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her 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. |
White Rocks Farm Limited (Registered number: 07179605) |
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Balance Sheet - continued |
31 July 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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White Rocks Farm Limited (Registered number: 07179605) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2020 |
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1. | STATUTORY INFORMATION |
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White Rocks Farm Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Government grants |
Coronavirus Job Retention Scheme (CJRS) |
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The company has furloughed staff during the Covid-19 pandemic and made claims for government furlough grants. The grants are recognised on an accruals basis, matched in the period against the staff costs that they relate to, and recorded as grant income in the accounts. |
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Coronavirus Bounce Back Loan Scheme |
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The company has received a Coronavirus Bounce Back Loan. Under the terms of the loan, the government guarantees 100% of the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year and the loan is repayable by equal monthly instalments over a 5 year period. In the accounts, the interest accrued in the initial interest holiday period has been spread evenly over the interest holiday period and recognised as grant income. |
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White Rocks Farm Limited (Registered number: 07179605) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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White Rocks Farm Limited (Registered number: 07179605) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2019 |
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Additions |
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Disposals | ( |
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( |
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At 31 July 2020 |
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DEPRECIATION |
At 1 August 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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( |
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At 31 July 2020 |
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NET BOOK VALUE |
At 31 July 2020 |
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At 31 July 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.20 | 31.7.19 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.20 | 31.7.19 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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White Rocks Farm Limited (Registered number: 07179605) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.7.20 | 31.7.19 |
£ | £ |
Bank loans |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.20 | 31.7.19 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |
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9. | PENSION COMMITMENTS |
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The company operates an auto-enrolment pension scheme for its staff. Contributions paid by the company to this scheme were £7,483 (2019: £5,358). At the year end, contributions of £1,660 (2019: £Nil) had not been paid over to the scheme. |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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In a previous year, the company provided a guarantee for a personal bank loan of £100,000 advanced to Ms S G H Woods, the sole director of the company. Security has been granted by way of a fixed and floating charge over all assets owned by the company. The term of the loan is for 144 months from September 2016 and the company has not incurred any costs in connection with providing the guarantee. |
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11. | RELATED PARTY DISCLOSURES |
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The company paid Animal Promotions Limited, a company controlled by the director, Ms S G H Woods, £96,000 for management fees At the year end, Animal Promotions Limited owed £243,447 to White Rocks Farm Limited. |
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Rent of £52,500 was paid to Ms S G Woods in the year in respect of land used by the company . |
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Mr D Dahl, the director's domestic partner, was owed £6,853, at the year end. This included rent of £2,500. |