All Faiths Remembrance Parks Limited Filleted Accounts Cover |
Company No. 10470014 | |||||||||
All Faiths Remembrance Parks Limited Balance Sheet Registrar |
at | ||||||||||
Company No. | Notes | 2023 | 2022 | |||||||
As restated | ||||||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Tangible assets | 5 | |||||||||
Investments | 6 | |||||||||
Current assets | ||||||||||
Stocks | 7 | |||||||||
Debtors | 8 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 9 | ( | ( | |||||||
Net current liabilities | ( | ( | ||||||||
Total assets less current liabilities | ||||||||||
Creditors: Amounts falling due after more than one year | 10 | ( | ( | |||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | ||||||||||
Share premium account | 12 | |||||||||
Profit and loss account | 12 | ( | ( | |||||||
Total equity | ||||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on 19 August 2024 and signed on its behalf by: | ||||||||||
N.J. Gerard | ||||||||||
Director | ||||||||||
19 August 2024 |
All Faiths Remembrance Parks Limited Notes to the Accounts Registrar |
for the year ended 30 November 2023 | ||||||||||||||
1 | General information | |||||||||||||
All Faiths Remembrance Parks Limited is a private company limited by shares and incorporated in England and Wales. | ||||||||||||||
Its registered number is: 10470014 | ||||||||||||||
Its registered office is: | ||||||||||||||
2 | Accounting policies | |||||||||||||
Turnover | ||||||||||||||
Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. | ||||||||||||||
Tangible fixed assets and depreciation | ||||||||||||||
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. | ||||||||||||||
Freehold buildings | ||||||||||||||
Plant and machinery | ||||||||||||||
Motor vehicles | ||||||||||||||
Furniture, fittings and equipment | ||||||||||||||
Taxation | ||||||||||||||
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. | ||||||||||||||
Stocks | ||||||||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs. Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses. | ||||||||||||||
Trade and other debtors | ||||||||||||||
Trade and other creditors | ||||||||||||||
Leased assets | ||||||||||||||
Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases. Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above). Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. | ||||||||||||||
Defined contribution pensions | ||||||||||||||
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. | ||||||||||||||
3 | Prior year adjustment | |||||||||||||
During the year, it was recognised that £31,950 in respect of property easement costs were incorrectly capitalised and represented within Land and Buildings. This has now been restated in the financial year to 30 November 2022 and correctly expensed within the Profit and Loss Statement. | ||||||||||||||
4 | Employees | |||||||||||||
2023 | 2022 | |||||||||||||
Number | Number | |||||||||||||
The average monthly number of employees (including directors) during the year was: | ||||||||||||||
5 | Tangible fixed assets (as restated) | |||||||||||||
Land and buildings | Plant and machinery | Motor vehicles | Fixtures, fittings and equipment | Total | ||||||||||
£ | £ | £ | £ | £ | ||||||||||
Cost or revaluation | ||||||||||||||
At 1 December 2022 | ||||||||||||||
Additions | ||||||||||||||
At 30 November 2023 | ||||||||||||||
Depreciation | ||||||||||||||
At 1 December 2022 | ||||||||||||||
Charge for the year | ||||||||||||||
At 30 November 2023 | ||||||||||||||
Net book values | ||||||||||||||
At 30 November 2023 | ||||||||||||||
At 30 November 2022 | 5,812,677 | 85,363 | 8,642 | 31,954 | ||||||||||
6 | Investments | |||||||||||||
Investment in Subsidiaries | Total | |||||||||||||
£ | £ | |||||||||||||
Cost or valuation | ||||||||||||||
Additions | ||||||||||||||
At 30 November 2023 | ||||||||||||||
Provisions/Impairment | ||||||||||||||
Net book values | ||||||||||||||
At 30 November 2023 | ||||||||||||||
The share capital of All Faiths Direct Cremations Limited was acquired at 23 June 2023. This investment represents a 100% shareholding in the subsidiary. | ||||||||||||||
7 | Stocks | |||||||||||||
2023 | 2022 | |||||||||||||
£ | £ | |||||||||||||
Finished goods | ||||||||||||||
8 | Debtors | |||||||||||||
2023 | 2022 | |||||||||||||
£ | £ | |||||||||||||
Trade debtors | ||||||||||||||
Amounts owed by group undertakings | ||||||||||||||
Deferred tax asset | ||||||||||||||
VAT recoverable | ||||||||||||||
Other debtors | ||||||||||||||
Prepayments and accrued income | ||||||||||||||
9 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2023 | 2022 | |||||||||||||
£ | £ | |||||||||||||
Bank loans and overdrafts | ||||||||||||||
Obligations under finance lease and hire purchase contracts | ||||||||||||||
Trade creditors | ||||||||||||||
Loans from directors | ||||||||||||||
Other creditors | ||||||||||||||
Accruals and deferred income | ||||||||||||||
10 | Creditors: | |||||||||||||
amounts falling due after more than one year | ||||||||||||||
2023 | 2022 | |||||||||||||
£ | £ | |||||||||||||
Bank loans and overdrafts | ||||||||||||||
Other loans | ||||||||||||||
Obligations under finance lease and hire purchase contracts | ||||||||||||||
11 | Share Capital | |||||||||||||
The company has 372,767 £0.01 Ordinary shares and 5,615,255 £0.01 A Ordinary shares in issue, all of which are paid up at par, except 90,000 £0.01 Ordinary shares which remain unpaid and are represented within other debtors. | ||||||||||||||
12 | Reserves | |||||||||||||
13 | Post balance sheet events | |||||||||||||
On 17 May 2024 the company capitalised a loan of £966,114, which is represented within other creditors due within one year. The share issue allotted a further 966,114 £0.01 Ordinary shares at a price of £1.00 per share. | ||||||||||||||