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Registration number: 07461147

The Chagford Show Ltd

trading as Chagford Show

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

The Chagford Show Ltd

trading as Chagford Show

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

The Chagford Show Ltd

trading as Chagford Show

Company Information

Directors

David Nicholas Craddock

Howard Jonathan George Lentern

Registered office

Lower Shapley Farm
Chagford
Devon
TQ13 8EB

Accountants

Sally Wonnacott Ltd
Chartered Certified Accountant
Thornworthy Lodge
Chagford
Newton Abbot
Devon
TQ13 8EY

 

The Chagford Show Ltd

trading as Chagford Show

(Registration number: 07461147)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,904

4,880

Current assets

 

Debtors

5

-

1,230

Cash at bank and in hand

 

207,628

184,782

 

207,628

186,012

Creditors: Amounts falling due within one year

6

(9,468)

(4,415)

Net current assets

 

198,160

181,597

Net assets

 

202,064

186,477

Reserves

 

Revaluation reserve

4,828

4,828

Retained earnings

197,236

181,649

Surplus

 

202,064

186,477

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 

.........................................
David Nicholas Craddock
Director

 

The Chagford Show Ltd

trading as Chagford Show

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

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Lower Shapley Farm
Chagford
Devon
TQ13 8EB

These financial statements were authorised for issue by the Board on 29 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 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.

 

The Chagford Show Ltd

trading as Chagford Show

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

Changes in accounting policy

The following have been applied for the first time from 1 November 2022 and have had an effect on the financial statements:

Depreciation

Depreciation policy changed from 20% straight line to 20% reducing balance basis.

Following a change of accountancy firms, detailed fixed asset breakdowns are not available and therefore 20% straight line could not be calculated. Given the relatively low value net book value of existing assets, 20% reducing balance used as the standard.

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.

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

20% reducing balance basis

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.

 

The Chagford Show Ltd

trading as Chagford Show

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 48 (2022 - 53).

 

The Chagford Show Ltd

trading as Chagford Show

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

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

23,648

23,648

At 31 October 2023

23,648

23,648

Depreciation

At 1 November 2022

18,768

18,768

Charge for the year

976

976

At 31 October 2023

19,744

19,744

Carrying amount

At 31 October 2023

3,904

3,904

At 31 October 2022

4,880

4,880

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

1,230

 

-

1,230

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

(517)

Taxation and social security

4,982

2

Accruals and deferred income

500

275

Other creditors

3,986

4,655

9,468

4,415