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Registration number: 06843322

Farm Accommodation Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Farm Accommodation Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Farm Accommodation Ltd

Company Information

Director

Mr E Lewis

Registered office

Tylerfedwen Farm
Cwmafan
Port Talbot
West Glamorgan
SA12 9YA

 

Farm Accommodation Ltd

(Registration number: 06843322)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

22,800

22,800

Current assets

 

Cash at bank and in hand

 

605

605

Creditors: Amounts falling due within one year

5

(56,819)

(56,594)

Net current liabilities

 

(56,214)

(55,989)

Net liabilities

 

(33,414)

(33,189)

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

(34,414)

(34,189)

Total equity

 

(33,414)

(33,189)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 17 August 2023
 

.........................................
Mr E Lewis
Director

   
     
 

Farm Accommodation Ltd

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

1

General information

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

The address of its registered office is:
Tylerfedwen Farm
Cwmafan
Port Talbot
West Glamorgan
SA12 9YA

These financial statements were authorised for issue by the director on 17 August 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 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.

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.

 

Farm Accommodation Ltd

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

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

Fixtures and fittings

No depreciation

Land and buildings

No depreciation

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.

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 the director) during the year, was 1 (2022 - 1).

 

Farm Accommodation Ltd

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

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2022

30,000

1,841

31,841

At 31 March 2023

30,000

1,841

31,841

Depreciation

At 1 April 2022

7,200

1,841

9,041

At 31 March 2023

7,200

1,841

9,041

Carrying amount

At 31 March 2023

22,800

-

22,800

At 31 March 2022

22,800

-

22,800

Included within the net book value of land and buildings above is £22,800 (2022 - £22,800) in respect of freehold land and buildings.
 

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

120

85

Directors loan account

56,579

56,409

Other creditors

 

120

100

 

56,819

56,594

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000