Holsome Park Limited 12603933 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is farming. Digita Accounts Production Advanced 6.30.9574.0 true 12603933 2023-04-01 2024-03-31 12603933 2024-03-31 12603933 core:RetainedEarningsAccumulatedLosses 2024-03-31 12603933 core:ShareCapital 2024-03-31 12603933 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 12603933 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12603933 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12603933 bus:SmallEntities 2023-04-01 2024-03-31 12603933 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12603933 bus:FullAccounts 2023-04-01 2024-03-31 12603933 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12603933 bus:RegisteredOffice 2023-04-01 2024-03-31 12603933 bus:Director1 2023-04-01 2024-03-31 12603933 bus:Director2 2023-04-01 2024-03-31 12603933 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12603933 core:Goodwill 2023-04-01 2024-03-31 12603933 core:IntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 12603933 core:LeaseholdImprovements 2023-04-01 2024-03-31 12603933 core:OfficeEquipment 2023-04-01 2024-03-31 12603933 core:PlantMachinery 2023-04-01 2024-03-31 12603933 countries:EnglandWales 2023-04-01 2024-03-31 12603933 2023-03-31 12603933 2022-04-01 2023-03-31 12603933 2023-03-31 12603933 core:RetainedEarningsAccumulatedLosses 2023-03-31 12603933 core:ShareCapital 2023-03-31 12603933 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-03-31 12603933 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12603933 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 12603933

Holsome Park Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Holsome Park Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 5

 

Holsome Park Limited

(Registration number: 12603933)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

8,550

Tangible assets

5

598,596

612,403

Other financial assets

6

21,004

27,121

 

619,600

648,074

Current assets

 

Stocks

147,941

72,992

Debtors

57,651

44,669

 

205,592

117,661

Creditors: Amounts falling due within one year

(306,090)

(274,813)

Net current liabilities

 

(100,498)

(157,152)

Total assets less current liabilities

 

519,102

490,922

Creditors: Amounts falling due after more than one year

7

(425,213)

(410,968)

Provisions for liabilities

(20,642)

(18,734)

Net assets

 

73,247

61,220

Capital and reserves

 

Called up share capital

102

102

Profit and loss account

73,145

61,118

Total equity

 

73,247

61,220

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 14 August 2024 and signed on its behalf by:
 

Dr L Lethbridge
Director

Mr G Lethbridge
Director

 
     
 

Holsome Park Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Holsome Park
Diptford
Totnes
Devon
TQ9 7NA

These financial statements were authorised for issue by the Board on 14 August 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

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 and deferred 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

Holsome Park Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

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

Tenant improvements

2% Straight line

Office equipment

25% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Entitlements

25% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Biological assets

Biological assets, living plants and animals are included at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Holsome Park Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2023

34,200

At 31 March 2024

34,200

Amortisation

At 1 April 2023

25,650

Amortisation charge

8,550

At 31 March 2024

34,200

Carrying amount

At 31 March 2024

-

At 31 March 2023

8,550

5

Tangible assets

Total
£

Cost or valuation

At 1 April 2023

691,970

Additions

25,650

At 31 March 2024

717,620

Depreciation

At 1 April 2023

79,566

Charge for the year

39,458

At 31 March 2024

119,024

Carrying amount

At 31 March 2024

598,596

At 31 March 2023

612,403

 

Holsome Park Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

6

Other financial assets (current and non-current)

Biological assets at cost less depreciation
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

30,946

30,946

Disposals

(3,192)

(3,192)

At 31 March 2024

27,754

27,754

Depreciation

At 1 April 2023

3,825

3,825

Depreciation

3,375

3,375

Adjustments resulting from a disposal

(450)

(450)

At 31 March 2024

6,750

6,750

Carrying amount

At 31 March 2024

21,004

21,004

At 31 March 2023

27,121

27,121

7

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £382,239 (2023 - £410,968).