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REGISTERED NUMBER: 08681187 (England and Wales)















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: J Hutley
O Hutley
N P Hutley
D Hutley





REGISTERED OFFICE: Gate Street Barn Gate Street
Bramley
Guildford
Surrey
GU5 0LR





REGISTERED NUMBER: 08681187 (England and Wales)

GATE STREET FARM LIMITED (REGISTERED NUMBER: 08681187)

ABRIDGED BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 7,218
Tangible assets 5 847,917 836,627
847,917 843,845

CURRENT ASSETS
Stocks 15,272 21,954
Debtors 188,600 15,628
Cash at bank and in hand 82,771 263,466
286,643 301,048
CREDITORS
Amounts falling due within one year 869,610 930,975
NET CURRENT LIABILITIES (582,967 ) (629,927 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

264,950

213,918

CREDITORS
Amounts falling due after more than one year (91,667 ) (141,667 )

PROVISIONS FOR LIABILITIES (26,426 ) (16,481 )
NET ASSETS 146,857 55,770

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 146,757 55,670
SHAREHOLDERS' FUNDS 146,857 55,770

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 August 2024 and were signed on its behalf by:





O Hutley - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 25 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022
and 30 September 2023 72,177
AMORTISATION
At 1 October 2022 64,959
Amortisation for year 7,218
At 30 September 2023 72,177
NET BOOK VALUE

At 30 September 2023 -
At 30 September 2022 7,218

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022 1,231,454
Additions 74,176
At 30 September 2023 1,305,630
DEPRECIATION
At 1 October 2022 394,827
Charge for year 62,886
At 30 September 2023 457,713
NET BOOK VALUE
At 30 September 2023 847,917
At 30 September 2022 836,627

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 141,667 191,667

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.