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PALE PARK VINEYARD LIMITED

FINANCIAL STATEMENTS FOR THE PERIOD 1ST MAY 2022 TO 31ST JANUARY 2023






PALE PARK VINEYARD LIMITED (REGISTERED NUMBER: 10741124)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST MAY 2022 TO 31ST JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PALE PARK VINEYARD LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1ST MAY 2022 TO 31ST JANUARY 2023







DIRECTORS: I Dickson
E A Dickson





REGISTERED OFFICE: 2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ





REGISTERED NUMBER: 10741124 (England and Wales)





ACCOUNTANTS: Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

PALE PARK VINEYARD LIMITED (REGISTERED NUMBER: 10741124)

BALANCE SHEET
31ST JANUARY 2023

31.1.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 32,502

CURRENT ASSETS
Stocks - 6,727
Debtors 6 - 24,205
Cash at bank 10,951 2,130
10,951 33,062
CREDITORS
Amounts falling due within one year 7 6,266 461
NET CURRENT ASSETS 4,685 32,601
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,685

65,103

CREDITORS
Amounts falling due after more than one
year

8

154,808

182,556
NET LIABILITIES (150,123 ) (117,453 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (150,223 ) (117,553 )
SHAREHOLDERS' FUNDS (150,123 ) (117,453 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

PALE PARK VINEYARD LIMITED (REGISTERED NUMBER: 10741124)

BALANCE SHEET - continued
31ST JANUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th September 2023 and were signed on its behalf by:





I Dickson - Director


PALE PARK VINEYARD LIMITED (REGISTERED NUMBER: 10741124)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST MAY 2022 TO 31ST JANUARY 2023

1. STATUTORY INFORMATION

Pale Park Vineyard Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the estimated life of the property
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Purchases include the maintenance and replacement planting of Vines, consumables and treatments necessary to the operation of a Vineyard. The company's policy for stock is that it is included at the lower of cost and net realisable value.

As the nature of the items purchased is such that they have no resale value, there is no figure included for closing stock.

Initial planting of Vines and the associated costs are capitalised and not included as cost of sales.

Taxation
Taxation for the period 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.

Current or deferred taxation assets and liabilities are not discounted.

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.


PALE PARK VINEYARD LIMITED (REGISTERED NUMBER: 10741124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST MAY 2022 TO 31ST JANUARY 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 period end and that are expected to apply to the reversal of the timing difference.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1st May 2022 29,475 71,030 3,127 103,632
Disposals (29,475 ) (71,030 ) (3,127 ) (103,632 )
At 31st January 2023 - - - -
DEPRECIATION
At 1st May 2022 14,737 54,008 2,385 71,130
Eliminated on disposal (14,737 ) (54,008 ) (2,385 ) (71,130 )
At 31st January 2023 - - - -
NET BOOK VALUE
At 31st January 2023 - - - -
At 30th April 2022 14,738 17,022 742 32,502

Improvements to property represent the initial cost of planting out the Vineyard. This is depreciated over the estimated useful life of the Vines.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 30.4.22
£    £   
Trade debtors - 72
Deferred tax asset - 24,133
- 24,205

PALE PARK VINEYARD LIMITED (REGISTERED NUMBER: 10741124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST MAY 2022 TO 31ST JANUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 30.4.22
£    £   
VAT 5,963 157
Accrued expenses 303 304
6,266 461

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 30.4.22
£    £   
Directors Current Account 154,808 182,556

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £154,808 (2022 - £182,556) to I Dickson, a director and shareholder of the company.The amount is interest free and repayable on demand.