REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
GATE STREET FARM LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
GATE STREET FARM LIMITED |
GATE STREET FARM LIMITED (REGISTERED NUMBER: 08681187) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GATE STREET FARM LIMITED |
COMPANY INFORMATION |
For The Year Ended 30 September 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
GATE STREET FARM LIMITED (REGISTERED NUMBER: 08681187) |
ABRIDGED BALANCE SHEET |
30 September 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
GATE STREET FARM LIMITED (REGISTERED NUMBER: 08681187) |
ABRIDGED BALANCE SHEET - continued |
30 September 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GATE STREET FARM LIMITED (REGISTERED NUMBER: 08681187) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Gate Street Farm Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Turnover |
Turnover represents sales of wedding and events venue hire during the year, excluding value added tax, performed during the year. |
Turnover is recognised as the date that event hire takes place and adjustments are made for accrued and deferred income. |
Goodwill |
Goodwill should be capitalised at cost and amortised over a period not exceeding 10 years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Plant & Machinery | - | 25% on cost |
Motor Vehicles | - | 20% on cost |
Fixtures & Fittings | - | 25% on cost |
Computer Equipment | - | 25% on cost |
Land & Property Leasehold | - | 2% on cost |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods. |
Current and deferred tax assets and liabilities are not discounted and are recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable are charged to the profit and loss in the period to which they relate. |
GATE STREET FARM LIMITED (REGISTERED NUMBER: 08681187) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 September 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
AMORTISATION |
At 1 October 2022 |
Amortisation for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2022 |
Additions |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
A charge over all the undertaking, property and assets of the company was created on 21 December 2020 by HSBC UK Bank PLC to secure all moneys and liabilities due. |
Floating and fixed charges have been raised over all the property or undertaking of the company by a director to secure all debenture loan balances and interest due from the company. |
GATE STREET FARM LIMITED (REGISTERED NUMBER: 08681187) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 September 2023 |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
As at 30 September 2023, the company had loaned two directors £167,989. This was the maximum amount owed during the year and is repayable on demand, interest was charged on the loan for the year. |