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Registration number: 13227204

St Eigons Spring Farm Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 28 February 2023

 

St Eigons Spring Farm Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

St Eigons Spring Farm Limited

Company Information

Directors

Mrs R U Watkins

Mr M A Laurent

Registered office

St Eigons Spring Farm
Llanigon
Hereford
Powys
HR3 5QD

 

Bankers

Cashplus Bank
6th Floor
One London Wall
London
EC2Y 5EB

Accountants

W J James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

St Eigons Spring Farm Limited

(Registration number: 13227204)

Balance Sheet
as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

38,250

42,272

Current assets

 

Debtors

5

-

770

Cash at bank and in hand

 

100

39

 

100

809

Creditors: Amounts falling due within one year

6

(55,512)

(56,775)

Net current liabilities

 

(55,412)

(55,966)

Net liabilities

 

(17,162)

(13,694)

Capital and reserves

 

Called up share capital

100

-

Profit and loss account

(17,262)

(13,694)

Total equity

 

(17,162)

(13,694)

For the financial year ending 28 February 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

St Eigons Spring Farm Limited

(Registration number: 13227204)

Balance Sheet
as at 28 February 2023

Approved and authorised by the Board on 31 October 2023 and signed on its behalf by:
 

.........................................

Mrs R U Watkins

Director

.........................................

Mr M A Laurent

Director

 

St Eigons Spring Farm Limited

Notes to the Financial Statements
for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Eigons Spring Farm
Llanigon
Hereford
Powys
HR3 5QD

These financial statements were authorised for issue by the Board on 31 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded up to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.The largest creditors are the directors. The company is reliant on the continued financial support of the directors who will not seek repayment of their loans to the company until the company is in a financial position to make loan repayments.

Revenue recognition

Turnover comprises the fair value of monies received or receivable for letting income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to leasehold property

5% cost

Fixtures and fittings

20% reducing balance

 

St Eigons Spring Farm Limited

Notes to the Financial Statements
for the Year Ended 28 February 2023

Plant and machinery

20% reducing balance

Consumables

Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

St Eigons Spring Farm Limited

Notes to the Financial Statements
for the Year Ended 28 February 2023

4

Tangible assets

Improvements to leasehold property
£

Fixtures and fittings
£

Plant and machinery
£

Consumables
£

Cost or valuation

At 1 March 2022

27,327

6,662

11,434

-

Additions

-

300

-

1,834

At 28 February 2023

27,327

6,962

11,434

1,834

Depreciation

At 1 March 2022

1,366

1,332

2,287

-

Charge for the year

1,367

1,126

1,829

-

At 28 February 2023

2,733

2,458

4,116

-

Carrying amount

At 28 February 2023

24,594

4,504

7,318

1,834

At 28 February 2022

25,961

5,330

9,147

1,834

Total
£

Cost or valuation

At 1 March 2022

45,423

Additions

2,134

At 28 February 2023

47,557

Depreciation

At 1 March 2022

4,985

Charge for the year

4,322

At 28 February 2023

9,307

Carrying amount

At 28 February 2023

38,250

At 28 February 2022

42,272

5

Debtors

2023
£

2022
£

Other debtors

-

770

-

770

 

St Eigons Spring Farm Limited

Notes to the Financial Statements
for the Year Ended 28 February 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

300

103

Accruals and deferred income

896

780

Other creditors

54,316

55,892

55,512

56,775