IRIS Accounts Production v24.3.0.553 06538712 Board of Directors 1.4.23 31.3.24 31.3.24 a conference and events centre. true false true true false false true false Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh065387122023-03-31065387122024-03-31065387122023-04-012024-03-31065387122022-03-31065387122022-04-012023-03-31065387122023-03-3106538712ns15:EnglandWales2023-04-012024-03-3106538712ns14:PoundSterling2023-04-012024-03-3106538712ns10:Director12023-04-012024-03-3106538712ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106538712ns10:FRS1022023-04-012024-03-3106538712ns10:Audited2023-04-012024-03-3106538712ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106538712ns10:FullAccounts2023-04-012024-03-3106538712ns10:OrdinaryShareClass12023-04-012024-03-3106538712ns10:Director22023-04-012024-03-3106538712ns10:Director32023-04-012024-03-3106538712ns10:Director42023-04-012024-03-3106538712ns10:Director52023-04-012024-03-3106538712ns10:Director62023-04-012024-03-3106538712ns10:Director72023-04-012024-03-3106538712ns10:CompanySecretary12023-04-012024-03-3106538712ns10:RegisteredOffice2023-04-012024-03-3106538712ns5:CurrentFinancialInstruments2024-03-3106538712ns5:CurrentFinancialInstruments2023-03-3106538712ns5:Non-currentFinancialInstruments2024-03-3106538712ns5:Non-currentFinancialInstruments2023-03-3106538712ns5:ShareCapital2024-03-3106538712ns5:ShareCapital2023-03-3106538712ns5:RetainedEarningsAccumulatedLosses2024-03-3106538712ns5:RetainedEarningsAccumulatedLosses2023-03-3106538712ns5:ShareCapital2022-03-3106538712ns5:RetainedEarningsAccumulatedLosses2022-03-3106538712ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3106538712ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3106538712ns5:LeaseholdImprovements2023-04-012024-03-3106538712ns5:PlantMachinery2023-04-012024-03-3106538712ns5:FurnitureFittings2023-04-012024-03-3106538712ns5:ComputerEquipment2023-04-012024-03-3106538712ns5:OwnedAssets2023-04-012024-03-3106538712ns5:OwnedAssets2022-04-012023-03-3106538712ns5:LeaseholdImprovements2023-03-3106538712ns5:PlantMachinery2023-03-3106538712ns5:FurnitureFittings2023-03-3106538712ns5:ComputerEquipment2023-03-3106538712ns5:LeaseholdImprovements2024-03-3106538712ns5:PlantMachinery2024-03-3106538712ns5:FurnitureFittings2024-03-3106538712ns5:ComputerEquipment2024-03-3106538712ns5:LeaseholdImprovements2023-03-3106538712ns5:PlantMachinery2023-03-3106538712ns5:FurnitureFittings2023-03-3106538712ns5:ComputerEquipment2023-03-3106538712ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106538712ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106538712ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3106538712ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3106538712ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3106538712ns5:WithinOneYear2024-03-3106538712ns5:WithinOneYear2023-03-3106538712ns5:BetweenOneFiveYears2024-03-3106538712ns5:BetweenOneFiveYears2023-03-3106538712ns5:MoreThanFiveYears2024-03-3106538712ns5:MoreThanFiveYears2023-03-3106538712ns5:AllPeriods2024-03-3106538712ns5:AllPeriods2023-03-3106538712ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 06538712 (England and Wales)















FOLLY FARM CENTRE LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 15


FOLLY FARM CENTRE LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2024







DIRECTORS: I Barrett
Ms J Caple
C J Curling
M Shepherd
P H A Morris
Mrs J E B Dean
M J Lyne





SECRETARY: Mrs J L Davis





REGISTERED OFFICE: Folly Farm
Stowey
Pensford
Bristol
BS39 1DW





REGISTERED NUMBER: 06538712 (England and Wales)





AUDITORS: Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

STRATEGIC REPORT
for the Year Ended 31 MARCH 2024

The directors present their strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS
The financial year ended 31 March 2024 was Folly Farm Centre's fifteenth year of trading. Sales growth was strong, particularly in Education and Weddings (which exceeded previous records), and Conference bookings were only 4% below the record level in 2022/23. However securing staff, energy and supplies at a reasonable cost continued to be challenging, with energy costs in particular rising by 55% on the previous year. Continued investment has been made in efficiency gains such as lighting modifications. This, together with re-tendering the energy contract, is achieving a reduction in costs and improving our carbon footprint.

We are therefore very pleased to report that, despite such challenges, a Net Profit was generated for the year of £74,621 (2022/23 £58,223). From this net profit the Directors have been able to agree a donation to Avon Wildlife Trust (parent company) of £73,263 to be paid in 2024/25. The Retained Surplus for this year after the donation amounts to £1,358.

Turnover was up to a record £781k (£740k in 2022/23). Direct costs were £274k (£287k in 2022/23) and administrative costs were £438k (£395k in 2022/23).

The Balance Sheet year-end net assets have increased to £197k from £155k at 31 March 2023.

As always Folly Farm Centre is looking beautiful and is busy with education, conference and wedding events. The economic conditions are challenging, with both the cost of living and the change of Government causing uncertainty. However, the prospects for the Company's trade are positive, with a strong order book extending into 2026.

ON BEHALF OF THE BOARD:





C J Curling - Director


2 September 2024

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

REPORT OF THE DIRECTORS
for the Year Ended 31 MARCH 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

I Barrett
Ms J Caple
C J Curling
M Shepherd
P H A Morris
Mrs J E B Dean

Other changes in directors holding office are as follows:

M J Lyne - appointed 29 January 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Burnside, will be proposed for re-appointment at the forthcoming Annual General Meeting.


FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

REPORT OF THE DIRECTORS
for the Year Ended 31 MARCH 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





C J Curling - Director


2 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FOLLY FARM CENTRE LIMITED

Opinion
We have audited the financial statements of Folly Farm Centre Limited (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FOLLY FARM CENTRE LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FOLLY FARM CENTRE LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

An understanding of the legal and regulatory framework applicable to the entity was obtained from management and those charged with governance of the entity, and the audit engagement team was confirmed to have the appropriate competence and capabilities to identify non-compliance with such a framework.

No significant instances of fraud, non-compliance with laws & regulations or other irregularities were communicated to the engagement team by management or those charged with governance, and no particular audit areas or legislation were identified that gave rise to any significant risks of material misstatement in respect of such irregularities.

Due to the size & nature of the entity its susceptibility to material misstatement resulting from fraud, non-compliance with laws & regulations, or other irregularities is considered to be low, and the audit approach was appropriately planned so as to address this risk.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen Burnside BA ACA (Senior Statutory Auditor)
for and on behalf of Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

2 September 2024

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

INCOME STATEMENT
for the Year Ended 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 781,319 739,829

Cost of sales 273,684 287,057
GROSS PROFIT 507,635 452,772

Administrative expenses 437,137 392,508
OPERATING PROFIT 4 70,498 60,264

Interest receivable and similar income 5,531 432
76,029 60,696

Interest payable and similar expenses 6 1,408 2,473
PROFIT BEFORE TAXATION 74,621 58,223

Tax on profit 7 - -
PROFIT FOR THE FINANCIAL YEAR 74,621 58,223

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

OTHER COMPREHENSIVE INCOME
for the Year Ended 31 MARCH 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 74,621 58,223


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

74,621

58,223

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 163,270 141,192

CURRENT ASSETS
Stocks 10 5,595 4,752
Debtors 11 78,261 92,999
Cash at bank and in hand 300,649 359,319
384,505 457,070
CREDITORS
Amounts falling due within one year 12 338,479 413,353
NET CURRENT ASSETS 46,026 43,717
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,296

184,909

CREDITORS
Amounts falling due after more than
one year

13

12,229

30,402
NET ASSETS 197,067 154,507

CAPITAL AND RESERVES
Called up share capital 16 1 1
Retained earnings 197,066 154,506
SHAREHOLDERS' FUNDS 197,067 154,507

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





C J Curling - Director


FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 31 MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 1 96,283 96,284

Changes in equity
Total comprehensive income - 58,223 58,223
Balance at 31 March 2023 1 154,506 154,507

Changes in equity
Dividends - (32,061 ) (32,061 )
Total comprehensive income - 74,621 74,621
Balance at 31 March 2024 1 197,066 197,067

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

CASH FLOW STATEMENT
for the Year Ended 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 40,308 172,690
Interest paid (1,408 ) (2,473 )
Net cash from operating activities 38,900 170,217

Cash flows from investing activities
Purchase of tangible fixed assets (52,857 ) (22,326 )
Sale of tangible fixed assets - 67
Interest received 5,531 432
Net cash from investing activities (47,326 ) (21,827 )

Cash flows from financing activities
Bank loan repayments in year - (44,171 )
Group undertakings loan repayments (18,183 ) (26,906 )
Equity dividends paid (32,061 ) -
Net cash from financing activities (50,244 ) (71,077 )

(Decrease)/increase in cash and cash equivalents (58,670 ) 77,313
Cash and cash equivalents at
beginning of year

2

359,319

282,006

Cash and cash equivalents at end
of year

2

300,649

359,319

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

NOTES TO THE CASH FLOW STATEMENT
for the Year Ended 31 MARCH 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 74,621 58,223
Depreciation charges 30,779 23,588
Profit on disposal of fixed assets - (67 )
Finance costs 1,408 2,473
Finance income (5,531 ) (432 )
101,277 83,785
(Increase)/decrease in stocks (843 ) 73
Decrease in trade and other debtors 14,738 4,343
(Decrease)/increase in trade and other creditors (74,864 ) 84,489
Cash generated from operations 40,308 172,690

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 300,649 359,319
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 359,319 282,006


FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

NOTES TO THE CASH FLOW STATEMENT
for the Year Ended 31 MARCH 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 359,319 (58,670 ) 300,649
359,319 (58,670 ) 300,649
Debt
Debts falling due within 1 year (18,179 ) 10 (18,169 )
Debts falling due after 1 year (30,402 ) 18,173 (12,229 )
(48,581 ) 18,183 (30,398 )
Total 310,738 (40,487 ) 270,251

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024

1. STATUTORY INFORMATION

Folly Farm Centre 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.

The Board of Directors have a reasonable expectation that the Company will be in operation 12 months from the date of approval of these accounts and remains a going concern. The accounts have therefore been prepared on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Avon Wildlife Trust which can be obtained from 17 Great George Street, Bristol, BS1 5QT. As such, advantage has been taken of the disclosure exemptions available under paragraphs 1.12 and 33.1A of FRS 102, specifically that no disclosure has been given for the aggregate remuneration of key management personnel and no disclosure has been given for transactions with Avon Wildlife Trust which owns 100% of the share capital of Folly Farm Centre Limited.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised on events based on the date the event takes place. Income on events billed in advance is deferred and carried forward to the appropriate financial period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on cost
Equipment - 33% on cost

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.

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.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 112,230 109,207
Social security costs 9,157 9,407
Other pension costs 5,625 3,850
127,012 122,464

The average number of employees during the year was as follows:
2024 2023

Administrative staff 6 6


4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 44,000 44,000
Depreciation - owned assets 30,779 23,588
Profit on disposal of fixed assets - (67 )

5. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

5,315

5,080

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest - 950
Loan interest on loans from group
undertakings

1,408

1,523
1,408 2,473

7. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 March 2024 nor for the year ended 31 March 2023.

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 74,621 58,223
Profit multiplied by the standard rate of corporation tax in the UK
of 19% (2023 - 19%)

14,178

11,062

Effects of:
Expenses not deductible for tax purposes 3,242 2,889
Utilisation of tax losses - (6,431 )
Deferred tax movement not recognised (3,500 ) (1,429 )
Distribution to be paid to parent (13,920 ) (6,091 )
Total tax charge - -

8. DIVIDENDS

The company has paid its parent a distribution of £32,061 in the year (2023 - £Nil).

9. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 170,650 23,430 54,712 10,679 259,471
Additions 41,697 8,723 867 1,570 52,857
Disposals - (1,817 ) (18,715 ) (7,749 ) (28,281 )
At 31 March 2024 212,347 30,336 36,864 4,500 284,047
DEPRECIATION
At 1 April 2023 53,060 12,454 42,086 10,679 118,279
Charge for year 17,895 7,193 5,571 120 30,779
Eliminated on disposal - (1,817 ) (18,715 ) (7,749 ) (28,281 )
At 31 March 2024 70,955 17,830 28,942 3,050 120,777
NET BOOK VALUE
At 31 March 2024 141,392 12,506 7,922 1,450 163,270
At 31 March 2023 117,590 10,976 12,626 - 141,192

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

10. STOCKS
2024 2023
£    £   
Raw materials and consumables 5,595 4,752

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 52,831 72,718
Other debtors 2,719 804
Prepayments and accrued income 22,711 19,477
78,261 92,999

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 14) 18,169 18,179
Trade creditors 26,526 44,630
Amounts owed to group undertakings 7,088 4,134
Social security and other taxes 2,208 -
VAT 13,424 17,355
Other creditors 2,375 4,192
Deferred income 250,519 302,497
Accrued expenses 18,170 22,366
338,479 413,353

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans (see note 14) 12,229 30,402

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Loan due to group undertaking 18,169 18,179

Amounts falling due between one and two years:
Loan due to group undertaking 1 - 2
years

12,229

18,179

FOLLY FARM CENTRE LIMITED (REGISTERED NUMBER: 06538712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

14. LOANS - continued
2024 2023
£    £   
Amounts falling due between two and five years:
Loan due to group undertaking 2- 5
years

-

12,223

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 44,000 44,000
Between one and five years 143,000 176,000
In more than five years - 11,000
187,000 231,000

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary shares 1 1 1

17. RELATED PARTY DISCLOSURES

The company's parent undertaking and controlling party throughout the year was, Avon Wildlife Trust, a charitable company limited by guarantee and registered in England and Wales. Avon Wildlife Trust prepares consolidated financial statements for the group and these can be obtained from 17 Great George St, Bristol, BS1 5QT.

The company donated £32,061 (2023 - £Nil) to Avon Wildlife Trust in the year. This has been accounted for as a dividend in accordance with UK GAAP (FRS 102). The company will donate a further £73,263 within 9 months of the year end to obtain tax relief for its trading profits (2023 - £32,061).