Llwynifan Farm Caravan Site Ltd 07841842 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is Caravan Site Digita Accounts Production Advanced 6.30.9574.0 Software true true 07841842 2022-11-01 2023-10-31 07841842 2023-10-31 07841842 bus:Director1 1 2023-10-31 07841842 bus:Director2 1 2023-10-31 07841842 core:RetainedEarningsAccumulatedLosses 2023-10-31 07841842 core:ShareCapital 2023-10-31 07841842 core:CurrentFinancialInstruments 2023-10-31 07841842 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 07841842 core:Non-currentFinancialInstruments 2023-10-31 07841842 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 07841842 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 07841842 core:OfficeEquipment 2023-10-31 07841842 core:PlantMachinery 2023-10-31 07841842 bus:SmallEntities 2022-11-01 2023-10-31 07841842 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 07841842 bus:FullAccounts 2022-11-01 2023-10-31 07841842 bus:RegisteredOffice 2022-11-01 2023-10-31 07841842 bus:Director1 2022-11-01 2023-10-31 07841842 bus:Director1 1 2022-11-01 2023-10-31 07841842 bus:Director2 2022-11-01 2023-10-31 07841842 bus:Director2 1 2022-11-01 2023-10-31 07841842 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07841842 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07841842 core:OfficeEquipment 2022-11-01 2023-10-31 07841842 core:PlantMachinery 2022-11-01 2023-10-31 07841842 countries:AllCountries 2022-11-01 2023-10-31 07841842 2022-10-31 07841842 bus:Director1 1 2022-10-31 07841842 bus:Director2 1 2022-10-31 07841842 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 07841842 core:OfficeEquipment 2022-10-31 07841842 core:PlantMachinery 2022-10-31 07841842 2021-11-01 2022-10-31 07841842 2022-10-31 07841842 bus:Director1 1 2022-10-31 07841842 bus:Director2 1 2022-10-31 07841842 core:RetainedEarningsAccumulatedLosses 2022-10-31 07841842 core:ShareCapital 2022-10-31 07841842 core:CurrentFinancialInstruments 2022-10-31 07841842 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 07841842 core:Non-currentFinancialInstruments 2022-10-31 07841842 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 07841842 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 07841842 core:OfficeEquipment 2022-10-31 07841842 core:PlantMachinery 2022-10-31 07841842 bus:Director1 1 2021-11-01 2022-10-31 07841842 bus:Director2 1 2021-11-01 2022-10-31 07841842 bus:Director1 1 2021-10-31 07841842 bus:Director2 1 2021-10-31 iso4217:GBP xbrli:pure

Filleted

Registration number: 07841842

Llwynifan Farm Caravan Site Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Llwynifan Farm Caravan Site Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Llwynifan Farm Caravan Site Ltd

Company Information

Directors

Mr H J Davies

Mrs C A Jones

Registered office

Llwynifan Farm
Trosserch Road
Llangennech
Llanelli
SA14 8AX

 

Llwynifan Farm Caravan Site Ltd

(Registration number: 07841842)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

99,672

107,238

Investment property

6

163,410

163,410

 

263,082

270,648

Current assets

 

Stocks

7

450

300

Debtors

8

3,641

761

Cash at bank and in hand

 

14,148

19,917

 

18,239

20,978

Creditors: Amounts falling due within one year

9

(50,946)

(59,286)

Net current liabilities

 

(32,707)

(38,308)

Total assets less current liabilities

 

230,375

232,340

Creditors: Amounts falling due after more than one year

9

(124,995)

(135,993)

Net assets

 

105,380

96,347

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

105,280

96,247

Total equity

 

105,380

96,347

For the financial year ending 31 October 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.

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.

 

Llwynifan Farm Caravan Site Ltd

(Registration number: 07841842)
Balance Sheet as at 31 October 2023

Approved and authorised by the Board on 22 February 2024 and signed on its behalf by:
 

.........................................
Mr H J Davies
Director

.........................................
Mrs C A Jones
Director

 
     
 

Llwynifan Farm Caravan Site Ltd

Notes to the Financial Statements for the Year Ended 31 October 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:
Llwynifan Farm
Trosserch Road
Llangennech
Llanelli
SA14 8AX

These financial statements were authorised for issue by the Board on 22 February 2024.

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Llwynifan Farm Caravan Site Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

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

Plant and machinery

25% Reducing Balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Llwynifan Farm Caravan Site Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

11,216

12,432

 

Llwynifan Farm Caravan Site Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 November 2022

64,897

99,418

1,499

165,814

Additions

-

4,013

3,408

7,421

Disposals

(400)

(3,371)

-

(3,771)

At 31 October 2023

64,497

100,060

4,907

169,464

Depreciation

At 1 November 2022

-

58,368

208

58,576

Charge for the year

-

10,197

1,019

11,216

At 31 October 2023

-

68,565

1,227

69,792

Carrying amount

At 31 October 2023

64,497

31,495

3,680

99,672

At 31 October 2022

64,897

41,050

1,291

107,238

Included within the net book value of land and buildings above is £64,497 (2022 - £64,897) in respect of freehold land and buildings.
 

6

Investment properties

2023
£

At 1 November

163,410

There has been no valuation of investment property by an independent valuer.

7

Stocks

2023
£

2022
£

Other inventories

450

300

8

Debtors

2023
£

2022
£

Prepayments

304

211

Other debtors

3,337

550

3,641

761

 

Llwynifan Farm Caravan Site Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

11

8,173

7,674

Trade creditors

 

589

-

Other related parties

 

12,004

17,812

Other creditors

 

30,180

33,800

 

50,946

59,286

Due after one year

 

Loans and borrowings

11

124,995

135,993

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £8,173 (2022 - £7,674).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

124,995

135,993

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £124,995 (2022 - £135,993).

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

124,995

135,993

 

Llwynifan Farm Caravan Site Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

8,173

7,674

12

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr H J Davies

Interest free loan repayable on demand

(8,906)

4,954

(2,051)

(6,002)

         
       

Mrs C A Jones

Interest free loan repayable on demand

(8,906)

4,954

(2,051)

(6,002)

         
       

 

2022

At 1 November 2021
£

Advances to director
£

Repayments by director
£

At 31 October 2022
£

Mr H J Davies

Interest free loan repayable on demand

(16,069)

12,663

(5,500)

(8,906)

         
       

Mrs C A Jones

Interest free loan repayable on demand

(16,069)

12,663

(5,500)

(8,906)