Registered number
03020657
The Isle of Wight Donkey Sanctuary Limited
Filleted Accounts
31 December 2023
The Isle of Wight Donkey Sanctuary Limited
Registered number: 03020657
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 179,939 98,441
Current assets
Stocks 57,919 37,754
Debtors 4 5,733 954
Cash at bank and in hand 65,696 195,420
129,348 234,128
Creditors: amounts falling due within one year 5 (307,332) (330,614)
Net current liabilities (177,984) (96,486)
Net assets 1,955 1,955
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,953 1,953
Shareholder's funds 1,955 1,955
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Susan McCall
Director
Approved by the board on 24 September 2024
The Isle of Wight Donkey Sanctuary Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery etc 10% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 22 15
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 122,949
Additions 99,420
At 31 December 2023 222,369
Depreciation
At 1 January 2023 24,508
Charge for the year 17,922
At 31 December 2023 42,430
Net book value
At 31 December 2023 179,939
At 31 December 2022 98,441
4 Debtors 2023 2022
£ £
Trade debtors 1,000 460
Other debtors 4,733 494
5,733 954
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,059 47
Trade creditors 17,028 15,635
Taxation and social security costs 10,058 12,714
Accrued expenses 7,317 1,702
Amounts due to parent undertaking 271,870 300,516
307,332 330,614
6 Other information
The Isle of Wight Donkey Sanctuary Limited is a private company limited by shares and incorporated in England. Its registered office is:
SHMS House
20 Little Park Farm Road
Fareham
Hampshire
PO15 5TD
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