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COMPANY REGISTRATION NUMBER: 09708563
Dolbryn Farm Cyf
Filleted Unaudited Financial Statements
31 December 2023
Dolbryn Farm Cyf
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
31,851
42,447
Current assets
Stocks
600
750
Cash at bank and in hand
4,679
26,090
-------
--------
5,279
26,840
Creditors: amounts falling due within one year
6
16,429
18,355
--------
--------
Net current (liabilities)/assets
( 11,150)
8,485
--------
--------
Total assets less current liabilities
20,701
50,932
Creditors: amounts falling due after more than one year
7
19,978
25,590
--------
--------
Net assets
723
25,342
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
623
25,242
----
--------
Shareholders funds
723
25,342
----
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dolbryn Farm Cyf
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 16 September 2024 , and are signed on behalf of the board by:
Mrs S E E Bannister
Director
Company registration number: 09708563
Dolbryn Farm Cyf
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dolbryn Caravan & Campsite, Capel Iwan Road, Newcastle Emlyn, Carmarthenshire, SA38 9LP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 January 2023
81,238
19,796
1,547
102,581
Additions
346
346
--------
--------
-------
---------
At 31 December 2023
81,584
19,796
1,547
102,927
--------
--------
-------
---------
Depreciation
At 1 January 2023
47,816
11,445
873
60,134
Charge for the year
8,630
2,087
225
10,942
--------
--------
-------
---------
At 31 December 2023
56,446
13,532
1,098
71,076
--------
--------
-------
---------
Carrying amount
At 31 December 2023
25,138
6,264
449
31,851
--------
--------
-------
---------
At 31 December 2022
33,422
8,351
674
42,447
--------
--------
-------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,457
Corporation tax
103
103
Social security and other taxes
3,292
819
Other creditors
13,034
15,976
--------
--------
16,429
18,355
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
18,378
20,990
Other creditors
1,600
4,600
--------
--------
19,978
25,590
--------
--------