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Registered number: 3151819
Park Farm Land Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Freeman & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 3151819
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,068,463 3,129,139
3,068,463 3,129,139
CURRENT ASSETS
Stocks 5 49,770 60,819
Debtors 6 153,134 328,322
202,904 389,141
Creditors: Amounts Falling Due Within One Year 7 (541,288 ) (548,021 )
NET CURRENT ASSETS (LIABILITIES) (338,384 ) (158,880 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,730,079 2,970,259
Creditors: Amounts Falling Due After More Than One Year 8 (1,891,926 ) (2,141,804 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,361 ) (17,361 )
NET ASSETS 820,792 811,094
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 11 549,903 549,903
Profit and Loss Account 269,889 260,191
SHAREHOLDERS' FUNDS 820,792 811,094
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Malcolm Burgess
Director
17th April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Park Farm Land Limited is a private company, limited by shares, incorporated in England & Wales, registered number 3151819 . The registered office is Park Farm, Crowgate, South Anston, S25 5AL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 5% straight line
Plant & Machinery 10-15% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 4
4 4
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 February 2023 3,033,069 747,559 3,780,628
Additions 9,547 - 9,547
As at 31 January 2024 3,042,616 747,559 3,790,175
Depreciation
As at 1 February 2023 213,750 437,739 651,489
Provided during the period 23,750 46,473 70,223
As at 31 January 2024 237,500 484,212 721,712
Net Book Value
As at 31 January 2024 2,805,116 263,347 3,068,463
As at 1 February 2023 2,819,319 309,820 3,129,139
5. Stocks
2024 2023
£ £
Finished goods 49,770 60,819
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 16,741 38,301
Other debtors 136,393 290,021
153,134 328,322
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 52,296 37,822
Bank loans and overdrafts 488,992 510,199
541,288 548,021
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 95,121 59,519
Bank loans 1,311,299 1,596,779
Other creditors 485,506 485,506
1,891,926 2,141,804
Page 4
Page 5
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 52,296 37,822
Later than one year and not later than five years 95,121 59,519
147,417 97,341
147,417 97,341
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Reserves
Revaluation Reserve
£
As at 1 February 2023 549,903
As at 31 January 2024 549,903
Page 5