Silverfin false false 31/01/2024 01/02/2023 31/01/2024 P J Palmer 19/09/1997 S E Palmer-Snellin 19/09/1997 01 August 2024 The principal activity of the Company during the financial year was that of a children's outdoor theme park. 03427509 2024-01-31 03427509 bus:Director1 2024-01-31 03427509 bus:Director2 2024-01-31 03427509 2023-01-31 03427509 core:CurrentFinancialInstruments 2024-01-31 03427509 core:CurrentFinancialInstruments 2023-01-31 03427509 core:Non-currentFinancialInstruments 2024-01-31 03427509 core:Non-currentFinancialInstruments 2023-01-31 03427509 core:ShareCapital 2024-01-31 03427509 core:ShareCapital 2023-01-31 03427509 core:RetainedEarningsAccumulatedLosses 2024-01-31 03427509 core:RetainedEarningsAccumulatedLosses 2023-01-31 03427509 core:Goodwill 2023-01-31 03427509 core:Goodwill 2024-01-31 03427509 core:LandBuildings 2023-01-31 03427509 core:PlantMachinery 2023-01-31 03427509 core:Vehicles 2023-01-31 03427509 core:FurnitureFittings 2023-01-31 03427509 core:ComputerEquipment 2023-01-31 03427509 core:LandBuildings 2024-01-31 03427509 core:PlantMachinery 2024-01-31 03427509 core:Vehicles 2024-01-31 03427509 core:FurnitureFittings 2024-01-31 03427509 core:ComputerEquipment 2024-01-31 03427509 core:CostValuation 2023-01-31 03427509 core:CostValuation 2024-01-31 03427509 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-01-31 03427509 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-01-31 03427509 2023-02-01 2024-01-31 03427509 bus:FilletedAccounts 2023-02-01 2024-01-31 03427509 bus:SmallEntities 2023-02-01 2024-01-31 03427509 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 03427509 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03427509 bus:Director1 2023-02-01 2024-01-31 03427509 bus:Director2 2023-02-01 2024-01-31 03427509 core:Goodwill core:TopRangeValue 2023-02-01 2024-01-31 03427509 core:LandBuildings 2023-02-01 2024-01-31 03427509 core:PlantMachinery 2023-02-01 2024-01-31 03427509 core:Vehicles 2023-02-01 2024-01-31 03427509 core:FurnitureFittings 2023-02-01 2024-01-31 03427509 core:ComputerEquipment 2023-02-01 2024-01-31 03427509 2022-02-01 2023-01-31 03427509 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Company No: 03427509 (England and Wales)

FARMER PALMER'S FARM PARK LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

FARMER PALMER'S FARM PARK LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

FARMER PALMER'S FARM PARK LIMITED

BALANCE SHEET

As at 31 January 2024
FARMER PALMER'S FARM PARK LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 840,866 707,706
Investments 5 78,380 78,380
919,246 786,086
Current assets
Stocks 6 64,814 65,911
Debtors 7 28,643 619
Cash at bank and in hand 141,866 506,326
235,323 572,856
Creditors: amounts falling due within one year 8 ( 199,838) ( 237,044)
Net current assets 35,485 335,812
Total assets less current liabilities 954,731 1,121,898
Creditors: amounts falling due after more than one year 9 ( 217,198) ( 372,771)
Net assets 737,533 749,127
Capital and reserves
Called-up share capital 127 127
Profit and loss account 737,406 749,000
Total shareholders' funds 737,533 749,127

For the financial 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.

Directors' responsibilities:

The financial statements of Farmer Palmer's Farm Park Limited (registered number: 03427509) were approved and authorised for issue by the Board of Directors on 01 August 2024. They were signed on its behalf by:

S E Palmer-Snellin
Director
FARMER PALMER'S FARM PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
FARMER PALMER'S FARM PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Farmer Palmer's Farm Park Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Stable House, Organford, Poole, BH16 6EU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 10 % reducing balance
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 62 48

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 February 2023 2,757 2,757
At 31 January 2024 2,757 2,757
Accumulated amortisation
At 01 February 2023 2,757 2,757
At 31 January 2024 2,757 2,757
Net book value
At 31 January 2024 0 0
At 31 January 2023 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 February 2023 598,338 1,076,545 151,678 23,813 83,586 1,933,960
Additions 6,757 72,931 86,355 94,107 2,617 262,767
Disposals 0 0 ( 1,735) 0 0 ( 1,735)
At 31 January 2024 605,095 1,149,476 236,298 117,920 86,203 2,194,992
Accumulated depreciation
At 01 February 2023 182,043 903,951 55,087 11,410 73,763 1,226,254
Charge for the financial year 22,897 54,554 39,884 7,815 2,722 127,872
At 31 January 2024 204,940 958,505 94,971 19,225 76,485 1,354,126
Net book value
At 31 January 2024 400,155 190,971 141,327 98,695 9,718 840,866
At 31 January 2023 416,295 172,594 96,591 12,403 9,823 707,706

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 February 2023 78,380
At 31 January 2024 78,380
Carrying value at 31 January 2024 78,380
Carrying value at 31 January 2023 78,380

6. Stocks

2024 2023
£ £
Stocks 64,814 65,911

7. Debtors

2024 2023
£ £
Trade debtors 17,643 619
Amounts owed by own subsidiaries 11,000 0
28,643 619

8. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 77,500 0
Trade creditors 58,415 119,672
Amounts owed to own subsidiaries 1,735 0
Amounts owed to directors 8,191 41,339
Accruals 4,000 0
Taxation and social security 15,748 60,319
Obligations under finance leases and hire purchase contracts 22,273 6,002
Other creditors 11,976 9,712
199,838 237,044

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 197,916 352,947
Obligations under finance leases and hire purchase contracts 19,282 19,824
217,198 372,771

There are no amounts included above in respect of which any security has been given by the small entity.