5
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2022-12-01
Sage Accounts Production Advanced 2021 - FRS102_2021
91,833
40,601
132,434
132,434
91,833
299,901
1,047
300,948
299,901
xbrli:pure
xbrli:shares
iso4217:GBP
02020187
2022-12-01
2023-11-30
02020187
2023-11-30
02020187
2022-11-30
02020187
2021-12-01
2022-11-30
02020187
2022-11-30
02020187
bus:OrdinaryShareClass1
2022-12-01
2023-11-30
02020187
bus:Director1
2022-12-01
2023-11-30
02020187
bus:Director6
2022-12-01
2023-11-30
02020187
bus:Director7
2022-12-01
2023-11-30
02020187
core:WithinOneYear
2023-11-30
02020187
core:WithinOneYear
2022-11-30
02020187
bus:OrdinaryShareClass1
2021-12-01
2022-11-30
02020187
core:ShareCapital
2023-11-30
02020187
core:ShareCapital
2022-11-30
02020187
core:RevaluationReserve
2023-11-30
02020187
core:RevaluationReserve
2022-11-30
02020187
core:OtherReservesSubtotal
2023-11-30
02020187
core:OtherReservesSubtotal
2022-11-30
02020187
core:RetainedEarningsAccumulatedLosses
2023-11-30
02020187
core:RetainedEarningsAccumulatedLosses
2022-11-30
02020187
core:CostValuation
core:Non-currentFinancialInstruments
2022-11-30
02020187
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2023-11-30
02020187
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2023-11-30
02020187
core:Non-currentFinancialInstruments
2022-11-30
02020187
core:LandBuildings
2023-11-30
02020187
core:LandBuildings
2022-11-30
02020187
core:LandBuildings
2022-11-30
02020187
core:LandBuildings
2022-12-01
2023-11-30
02020187
bus:SmallEntities
2022-12-01
2023-11-30
02020187
bus:AuditExemptWithAccountantsReport
2022-12-01
2023-11-30
02020187
bus:FullAccounts
2022-12-01
2023-11-30
02020187
bus:SmallCompaniesRegimeForAccounts
2022-12-01
2023-11-30
02020187
bus:PrivateLimitedCompanyLtd
2022-12-01
2023-11-30
02020187
bus:OrdinaryShareClass1
2023-11-30
02020187
bus:OrdinaryShareClass1
2022-11-30
COMPANY REGISTRATION NUMBER:
02020187
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
30 November 2023
Fixed assets
Tangible assets |
6 |
|
132,434 |
91,833 |
Investments |
7 |
|
– |
299,901 |
|
|
--------- |
--------- |
|
|
132,434 |
391,734 |
|
|
|
|
|
Current assets
Debtors |
8 |
21,080 |
|
43,059 |
Cash at bank and in hand |
685,646 |
|
365,184 |
|
--------- |
|
--------- |
|
706,726 |
|
408,243 |
|
|
|
|
|
Creditors: amounts falling due within one year |
9 |
6,984 |
|
3,775 |
|
--------- |
|
--------- |
Net current assets |
|
699,742 |
404,468 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
832,176 |
796,202 |
|
|
--------- |
--------- |
Net assets |
|
832,176 |
796,202 |
|
|
--------- |
--------- |
|
|
|
|
|
Statement of Financial Position (continued) |
|
30 November 2023
Capital and reserves
Called up share capital |
10 |
|
10,000 |
10,000 |
Revaluation reserve |
|
94,592 |
65,581 |
Other reserves |
|
362,760 |
362,760 |
Profit and loss account |
|
364,824 |
357,861 |
|
|
--------- |
--------- |
Shareholders funds |
|
832,176 |
796,202 |
|
|
--------- |
--------- |
|
|
|
|
|
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the financial year ended 30 November 2022, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies
and the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the
board of directors
and authorised for issue on
18 August 2024
, and are signed on behalf of the board by:
Mrs D B Cook |
Ms S M Ralphs |
Director |
Director |
|
|
Company registration number:
02020187
Notes to the Financial Statements |
|
Year ended 30 November 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is Coombe Farm, Roundham, Crewkerne, Somerset, TA18 8RR
2.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 taking advantage of the disclosure exemptions of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover shown in the Profit and Loss Account comprises rents from investment properties and proceeds from the sale of development properties.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes
. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2022:
5
).
5.
Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
|
2023 |
2022 |
|
£ |
£ |
Dividends on equity shares |
– |
100,000 |
|
---- |
--------- |
|
|
|
6.
Tangible assets
|
Land and buildings |
|
£ |
Cost or valuation |
|
At 1 December 2022 |
91,833 |
Revaluations |
40,601 |
|
--------- |
At 30 November 2023 |
132,434 |
|
--------- |
Depreciation |
|
At 1 December 2022 and 30 November 2023 |
– |
|
--------- |
Carrying amount |
|
At 30 November 2023 |
132,434 |
|
--------- |
At 30 November 2022 |
91,833 |
|
--------- |
|
|
Tangible assets held at valuation
Certain freehold land and buildings at a cost of £15,884 (2021: £15,884) were revalued at 30 November 2022 based on valuations required and carried out post year end regarding the subsequent sale of the assets. These properties are rented by means of formal tenancy agreements and the assets are therefore let under operating leases.
7.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 December 2022 |
299,901 |
Additions |
1,047 |
Disposals |
(
300,948) |
|
--------- |
At 30 November 2023 |
– |
|
--------- |
Impairment |
|
At 1 December 2022 and 30 November 2023 |
– |
|
--------- |
|
|
Carrying amount |
|
At 30 November 2023 |
– |
|
--------- |
At 30 November 2022 |
299,901 |
|
--------- |
|
|
The Subsidiary Undertaking is an interest in Barrowfield Partnership. The principal place of business of the partnership is Higher Barrowfield Farm, Beaminster, Dorset. The partnership is now dormant. The Company's share of the net loss of the partnership as shown by accounts to 30 November 2022 £1,648 (2021 £1,882). The company's capital account at 30 November 2022 was £299,901 (2021 £301,549).
8.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
5,334 |
4,093 |
Other debtors |
15,746 |
38,966 |
|
-------- |
-------- |
|
21,080 |
43,059 |
|
-------- |
-------- |
|
|
|
9.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
4,964 |
1,755 |
Other creditors |
2,020 |
2,020 |
|
------- |
------- |
|
6,984 |
3,775 |
|
------- |
------- |
|
|
|
10.
Called up share capital
Authorised share capital
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
10,000 |
10,000 |
10,000 |
10,000 |
|
-------- |
-------- |
-------- |
-------- |
|
|
|
|
|
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
10,000 |
10,000 |
10,000 |
10,000 |
|
-------- |
-------- |
-------- |
-------- |
|
|
|
|
|
11.
Directors' advances, credits and guarantees
Included in debtors is an amount owed by
Mrs D B Cook
of £ Nil (2021 £52,463) in respect of her director's current account with the Company. No interest is payable on this amount.