4 30/04/2023 2023-04-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-05-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05152479 2022-05-01 2023-04-30 05152479 2023-04-30 05152479 2022-04-30 05152479 2021-05-01 2022-04-30 05152479 2022-04-30 05152479 core:Subsidiary1 2022-05-01 2023-04-30 05152479 core:LandBuildings core:ShortLeaseholdAssets 2022-05-01 2023-04-30 05152479 core:PlantMachinery 2022-05-01 2023-04-30 05152479 core:MotorVehicles 2022-05-01 2023-04-30 05152479 bus:Director5 2022-05-01 2023-04-30 05152479 core:WithinOneYear 2023-04-30 05152479 core:WithinOneYear 2022-04-30 05152479 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-30 05152479 core:LandBuildings core:LongLeaseholdAssets 2022-04-30 05152479 core:LandBuildings core:ShortLeaseholdAssets 2022-04-30 05152479 core:PlantMachinery 2022-04-30 05152479 core:MotorVehicles 2022-04-30 05152479 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 05152479 core:LandBuildings core:LongLeaseholdAssets 2023-04-30 05152479 core:LandBuildings core:ShortLeaseholdAssets 2023-04-30 05152479 core:PlantMachinery 2023-04-30 05152479 core:MotorVehicles 2023-04-30 05152479 core:LandBuildings core:LongLeaseholdAssets 2022-05-01 2023-04-30 05152479 core:RetainedEarningsAccumulatedLosses 2023-04-30 05152479 core:RetainedEarningsAccumulatedLosses 2022-04-30 05152479 core:CostValuation core:Non-currentFinancialInstruments 2023-04-30 05152479 core:Non-currentFinancialInstruments 2023-04-30 05152479 core:Non-currentFinancialInstruments 2022-04-30 05152479 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-30 05152479 core:LandBuildings core:LongLeaseholdAssets 2022-04-30 05152479 core:LandBuildings core:ShortLeaseholdAssets 2022-04-30 05152479 core:PlantMachinery 2022-04-30 05152479 core:MotorVehicles 2022-04-30 05152479 bus:SmallEntities 2022-05-01 2023-04-30 05152479 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 05152479 bus:FullAccounts 2022-05-01 2023-04-30 05152479 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 05152479 bus:CompanyLimitedByGuarantee 2022-05-01 2023-04-30
Company registration number: 05152479
The Blackmore & Sparkford Vale Company Limited
Company limited by guarantee
Unaudited filleted financial statements
30 April 2023
THE BLACKMORE & SPARKFORD VALE COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
30 APRIL 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 6 564,540 580,391
Investments 7 100 100
_______ _______
564,640 580,491
Current assets
Debtors 8 223,363 131,615
Cash at bank and in hand 81,154 131,871
_______ _______
304,517 263,486
Creditors: amounts falling due
within one year 10 ( 15,544) ( 11,449)
_______ _______
Net current assets 288,973 252,037
_______ _______
Total assets less current liabilities 853,613 832,528
_______ _______
Net assets 853,613 832,528
_______ _______
Capital and reserves
Profit and loss account 11 853,613 832,528
_______ _______
Members funds 853,613 832,528
_______ _______
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 October 2023 , and are signed on behalf of the board by:
Mr S Fenton
Director
Company registration number: 05152479
THE BLACKMORE & SPARKFORD VALE COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
1. General information
The company is a private company limited by guarantee, registered in England & Wales. The address of the registered office is Thomas Westcott, Timberly, South Street, Axminster, Devon, EX13 5AD.
Principal activity
The principal activity of the company is that of promoting the sport and practice of fox hunting generally within the law and in accorcance with the rules of the Master of Foxhounds Accociation or any successor body and to promote associated lawful sports and pastimes.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property - Straight line over 10 years
Short leasehold property - 17.5 % reducing balance
Plant and machinery - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Limited by guarantee
The Company is limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
6. Tangible assets
Freehold property Property improvements Horses Equipment, saddlery and clothing Motor vehicles Total
£ £ £ £ £ £
Cost
At 1 May 2022 407,506 142,365 76,619 74,173 10,800 711,463
Additions - - 14,456 - - 14,456
Disposals - - ( 17,500) ( 19,870) - ( 37,370)
_______ _______ _______ _______ _______ _______
At 30 April 2023 407,506 142,365 73,575 54,303 10,800 688,549
_______ _______ _______ _______ _______ _______
Depreciation
At 1 May 2022 - 25,065 39,290 58,764 7,953 131,072
Charge for the year - 13,665 9,218 3,180 712 26,775
Disposals - - ( 13,968) ( 19,870) - ( 33,838)
_______ _______ _______ _______ _______ _______
At 30 April 2023 - 38,730 34,540 42,074 8,665 124,009
_______ _______ _______ _______ _______ _______
Carrying amount
At 30 April 2023 407,506 103,635 39,035 12,229 2,135 564,540
_______ _______ _______ _______ _______ _______
At 30 April 2022 407,506 117,300 37,329 15,409 2,847 580,391
_______ _______ _______ _______ _______ _______
7. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 May 2022 and 30 April 2023 100 100
_______ _______
Impairment
At 1 May 2022 and 30 April 2023 - -
_______ _______
Carrying amount
At 30 April 2023 100 100
_______ _______
At 30 April 2022 100 100
_______ _______
Investments in group undertakings
Registered office Class of share Percentage of shares held
Subsidiary undertakings
Blackmore & Sparkford Vale England & Wales Ordinary 100
Trading Limited
8. Debtors
2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 218,445 126,697
Other debtors 4,918 4,918
_______ _______
223,363 131,615
_______ _______
9. Cash and cash equivalents
2023 2022
£ £
Cash at bank and in hand 81,154 131,871
_______ _______
10. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 7,892 2,317
Accruals and deferred income 6,805 8,028
Social security and other taxes 847 1,104
_______ _______
15,544 11,449
_______ _______
11. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
12. Related party transactions
At 30 April 2023 the company was owed £218,445 (30 April 2022 - £126,697) by its subsiduary, Blackmore & Sprakford Vale Trading Limited.