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Registered number: 09164670
PORTHLLONGDY FARM & CARAVAN SITE LTD
Unaudited Financial Statements
For The Year Ended 31 December 2023
Colin French Accountancy Services
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09164670
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,967,621 2,931,445
2,967,621 2,931,445
CURRENT ASSETS
Stocks 5 46,269 -
Debtors 6 25,411 17,182
Cash at bank and in hand 512,747 585,377
584,427 602,559
Creditors: Amounts Falling Due Within One Year 7 (881,650 ) (880,145 )
NET CURRENT ASSETS (LIABILITIES) (297,223 ) (277,586 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,670,398 2,653,859
Creditors: Amounts Falling Due After More Than One Year 8 (1,280,026 ) (1,381,915 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (78,880 ) (52,838 )
NET ASSETS 1,311,492 1,219,106
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 1,311,392 1,219,006
SHAREHOLDERS' FUNDS 1,311,492 1,219,106
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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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Nicholas Batt
Director
05/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
PORTHLLONGDY FARM & CARAVAN SITE LTD is a private company, limited by shares, incorporated in England & Wales, registered number 09164670 . The registered office is Porth Llongdy, Farm & Caravan Site, Red Wharf Bay, Isle Of Anglesey, LL75 8RJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. 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 statement of comprehensive income 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 5)
4 5
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 2,760,953 224,292 47,392 207,139
Additions 4,864 48,479 45,492 -
Disposals - (14,500 ) (19,296 ) -
As at 31 December 2023 2,765,817 258,271 73,588 207,139
Depreciation
As at 1 January 2023 26,172 116,311 34,251 133,617
Provided during the period 12,694 19,088 4,094 11,029
Disposals - (5,595 ) (11,156 ) -
As at 31 December 2023 38,866 129,804 27,189 144,646
Net Book Value
As at 31 December 2023 2,726,951 128,467 46,399 62,493
As at 1 January 2023 2,734,781 107,981 13,141 73,522
Computer Equipment Total
£ £
Cost
As at 1 January 2023 7,961 3,247,737
Additions 1,916 100,751
Disposals - (33,796 )
As at 31 December 2023 9,877 3,314,692
Depreciation
As at 1 January 2023 5,941 316,292
Provided during the period 625 47,530
Disposals - (16,751 )
As at 31 December 2023 6,566 347,071
Net Book Value
As at 31 December 2023 3,311 2,967,621
As at 1 January 2023 2,020 2,931,445
5. Stocks
2023 2022
£ £
Stock 46,269 -
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,060 1,489
Other debtors 24,351 15,693
25,411 17,182
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,771 7,496
Bank loans and overdrafts 106,689 64,475
Other creditors 736,544 743,591
Taxation and social security 32,646 64,583
881,650 880,145
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,280,026 1,381,915
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 78,880 52,838
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr John Batt (359,883 ) 13,911 (12,500 ) - (358,472 )
Mrs Eurwen Batt (359,883 ) 13,911 (12,500 ) - (358,472 )
The above loan is unsecured, interest free and repayable on demand.
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