County Turf Sports Limited 13018742 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Sale of turf Digita Accounts Production Advanced 6.30.9574.0 true true 13018742 2023-01-01 2023-12-31 13018742 2023-12-31 13018742 bus:OrdinaryShareClass1 2023-12-31 13018742 core:CurrentFinancialInstruments 2023-12-31 13018742 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13018742 core:FurnitureFittings 2023-12-31 13018742 core:OfficeEquipment 2023-12-31 13018742 core:PlantMachinery 2023-12-31 13018742 bus:SmallEntities 2023-01-01 2023-12-31 13018742 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13018742 bus:FilletedAccounts 2023-01-01 2023-12-31 13018742 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13018742 bus:RegisteredOffice 2023-01-01 2023-12-31 13018742 bus:Director1 2023-01-01 2023-12-31 13018742 bus:Director2 2023-01-01 2023-12-31 13018742 bus:Director3 2023-01-01 2023-12-31 13018742 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13018742 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13018742 core:FurnitureFittings 2023-01-01 2023-12-31 13018742 core:OfficeEquipment 2023-01-01 2023-12-31 13018742 core:PlantMachinery 2023-01-01 2023-12-31 13018742 countries:EnglandWales 2023-01-01 2023-12-31 13018742 2022-12-31 13018742 core:FurnitureFittings 2022-12-31 13018742 core:OfficeEquipment 2022-12-31 13018742 core:PlantMachinery 2022-12-31 13018742 2022-01-01 2022-12-31 13018742 2022-12-31 13018742 bus:OrdinaryShareClass1 2022-12-31 13018742 core:CurrentFinancialInstruments 2022-12-31 13018742 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13018742 core:FurnitureFittings 2022-12-31 13018742 core:OfficeEquipment 2022-12-31 13018742 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13018742

County Turf Sports Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

County Turf Sports Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

County Turf Sports Limited

Company Information

Directors

A Fraser

A W Fraser

C D Medley

Registered office

Low Santon Farm
Appleby
Scunthorpe
North Lincolnshire
DN15 ODF

 

County Turf Sports Limited

(Registration number: 13018742)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

144,554

157,569

Current assets

 

Debtors

5

871,363

13,484

Cash at bank and in hand

 

17,331

1,200,935

 

888,694

1,214,419

Creditors: Amounts falling due within one year

6

(278,288)

(760,986)

Net current assets

 

610,406

453,433

Total assets less current liabilities

 

754,960

611,002

Provisions for liabilities

(36,139)

(39,392)

Net assets

 

718,821

571,610

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

718,820

571,609

Shareholders' funds

 

718,821

571,610

For the financial 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 September 2024 and signed on its behalf by:
 

.........................................
A W Fraser
Director

 

County Turf Sports Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 13018742.

The address of its registered office is:
Low Santon Farm
Appleby
Scunthorpe
North Lincolnshire
DN15 ODF

These financial statements cover the individual entity, County Turf Sports Limited.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by section 398 of the Companies Act 2006 and has not prepared group accounts..

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

County Turf Sports Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Self propelled machinery

15% reducing balance

Irrigation equipment

15% reducing balance

Implements

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

County Turf Sports Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 0 (2022 - 0).

4

Tangible assets

Implements
£

Self propelled machinery
£

Irrigation equipment
£

Total
£

Cost or valuation

At 1 January 2023

88,395

100,609

30,929

219,933

Additions

22,994

-

-

22,994

At 31 December 2023

111,389

100,609

30,929

242,927

Depreciation

At 1 January 2023

24,873

28,908

8,583

62,364

Charge for the year

14,930

17,727

3,352

36,009

At 31 December 2023

39,803

46,635

11,935

98,373

Carrying amount

At 31 December 2023

71,586

53,974

18,994

144,554

At 31 December 2022

63,522

71,701

22,346

157,569

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

15,373

4,717

Amounts owed by group undertakings

845,355

-

Other debtors

 

10,635

8,767

Total current trade and other debtors

 

871,363

13,484

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

53,204

226,053

Amounts owed to group undertakings

139,384

410,685

Accruals and deferred income

 

2,900

2,750

Corporation tax control

 

82,800

121,498

 

278,288

760,986

 

County Turf Sports Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

139,384

410,685

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1