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Blackaton Manor Farm Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 October 2023

Registration number: 01221612

 

Blackaton Manor Farm Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Blackaton Manor Farm Limited

Company Information

Directors

Mr M S Jones

Mrs S T Raynor

Company secretary

Mrs S T Raynor

Registered office

Blackaton Manor Farm
Widecombe-in-the-Moor
Newton Abbot
TQ13 7UB

Accountants

Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

 

Blackaton Manor Farm Limited

Balance Sheet

31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

483,426

486,996

Current assets

 

Stocks

5

124,374

131,371

Debtors

6

50,061

45,942

Cash at bank and in hand

 

27,093

24,717

 

201,528

202,030

Creditors: Amounts falling due within one year

7

(281,705)

(264,396)

Net current liabilities

 

(80,177)

(62,366)

Net assets

 

403,249

424,630

Capital and reserves

 

Called up share capital

9

350,000

350,000

Profit and loss account

53,249

74,630

Shareholders' funds

 

403,249

424,630

 

Blackaton Manor Farm Limited

Balance Sheet

31 October 2023

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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 July 2024 and signed on its behalf by:
 

.........................................
Mr M S Jones
Director

.........................................
Mrs S T Raynor
Director

Company Registration Number: 01221612

 

Blackaton Manor Farm Limited

Notes to the Unaudited Financial Statements

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 and principal place of business is:
Blackaton Manor Farm
Widecombe-in-the-Moor
Newton Abbot
TQ13 7UB

These financial statements were authorised for issue by the Board on 26 July 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' , including Section 1A, and the Companies Act 2006. There are no material departures from FRS102.

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. This assumes that the company will continue in operational existence for the foreseeable future.

The company is reliant on the continued financial support of the company's directors and bankers and the directors are satisfied that the accounts should be prepared on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable (excluding Value Added Tax) for the sale of goods and provision of services in the ordinary course of the company’s activities.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tangible assets

Tangible assets are stated 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.

 

Blackaton Manor Farm Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 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

Land and buildings

Not depreciated

Plant and machinery

10-25% reducing balance

Fixture and fittings

10% reducing balance

Stocks

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances; and
• Preference shares.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Blackaton Manor Farm Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

455,539

1,212

121,396

578,147

At 31 October 2023

455,539

1,212

121,396

578,147

Depreciation

At 1 November 2022

-

231

90,920

91,151

Charge for the year

-

98

3,472

3,570

At 31 October 2023

-

329

94,392

94,721

Carrying amount

At 31 October 2023

455,539

883

27,004

483,426

At 31 October 2022

455,539

981

30,476

486,996

Included within the net book value of land and buildings above is £455,539 (2022 - £455,539) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Stock

124,374

131,371

 

Blackaton Manor Farm Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2023

6

Debtors

2023
£

2022
£

Trade debtors

46,465

42,802

Other debtors

3,596

3,140

50,061

45,942

7

Creditors

Note

2023
 £

2022
 £

Due within one year

 

Loans and borrowings

8

179,542

179,542

Trade creditors

 

6,597

10,039

Social security and other taxes

 

732

981

Other creditors

 

91,334

70,334

Accrued expenses

 

3,500

3,500

 

281,705

264,396

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Redeemable preference shares

179,542

179,542

The redeemable preference shares are redeemable at the option of the shareholder. They are redeemable at £1 per share and carry no voting rights. Each preference share is entitled to a fixed preferential dividend at an annual rate of 0.25% of the original subscription price, to be paid when the board determines. On a winding up, the holders of the preference shares shall be paid in priority to the ordinary shareholders.
 

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

350,000

350,000

350,000

350,000