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REGISTERED NUMBER: 03090324 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SOUTH TORFREY FARM LIMITED

SOUTH TORFREY FARM LIMITED (REGISTERED NUMBER: 03090324)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH TORFREY FARM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S J Andrews
Mrs D J Andrews





SECRETARY: Mrs D J Andrews





REGISTERED OFFICE: South Torfrey Farm
Golant
Fowey
Cornwall
PL23 1LA





REGISTERED NUMBER: 03090324 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

SOUTH TORFREY FARM LIMITED (REGISTERED NUMBER: 03090324)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 764,178 763,100

CURRENT ASSETS
Stocks 1,387 1,353
Debtors 5 1,315 -
Cash at bank and in hand 4,570 24,576
7,272 25,929
CREDITORS
Amounts falling due within one year 6 585,908 599,403
NET CURRENT LIABILITIES (578,636 ) (573,474 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

185,542

189,626

CAPITAL AND RESERVES
Called up share capital 230,000 230,000
Retained earnings (44,458 ) (40,374 )
SHAREHOLDERS' FUNDS 185,542 189,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

SOUTH TORFREY FARM LIMITED (REGISTERED NUMBER: 03090324)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:




S J Andrews - Director



Mrs D J Andrews - Director


SOUTH TORFREY FARM LIMITED (REGISTERED NUMBER: 03090324)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

South Torfrey 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sale of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and Buildings - No depreciation
Holiday cottages - No depreciation
Holiday cottages furnishings - 15% on reducing balance
Fencing - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

No depreciation is provided on land and buildings and holiday cottages as it is the Company's policy to maintain these assets in a continual state of sound repair and, accordingly, the directors consider that the lives of these assets are so long and residual values so high that their depreciation is insignificant.



Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 or deferred taxation assets and liabilities are not discounted.

Current tax is 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

SOUTH TORFREY FARM LIMITED (REGISTERED NUMBER: 03090324)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Holiday
Land and Holiday cottages
Buildings cottages furnishings
£    £    £   
COST
At 1 April 2023 163,506 478,692 176,923
Additions 9,032 - -
At 31 March 2024 172,538 478,692 176,923
DEPRECIATION
At 1 April 2023 - - 156,341
Charge for year - - 3,084
At 31 March 2024 - - 159,425
NET BOOK VALUE
At 31 March 2024 172,538 478,692 17,498
At 31 March 2023 163,506 478,692 20,582

Fixtures
Plant and and
Fencing machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 10,077 216,775 75,801 1,121,774
Additions - 11,973 - 21,005
At 31 March 2024 10,077 228,748 75,801 1,142,779
DEPRECIATION
At 1 April 2023 9,161 174,214 18,958 358,674
Charge for year 137 8,180 8,526 19,927
At 31 March 2024 9,298 182,394 27,484 378,601
NET BOOK VALUE
At 31 March 2024 779 46,354 48,317 764,178
At 31 March 2023 916 42,561 56,843 763,100

SOUTH TORFREY FARM LIMITED (REGISTERED NUMBER: 03090324)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 1,315 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans 12,000 16,000
Trade creditors 1,687 389
Social security and other taxes - 5,065
Other creditors 567,713 573,591
Accrued expenses 4,508 4,358
585,908 599,403

Other creditors represent amounts owed to Mr S J Andrews, a director of the company.


7. RELATED PARTY DISCLOSURES

The company is controlled by Mr S J Andrews, by virtue of the fact that he owns 100% of the company's ordinary issued share capital.