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Registration number: 01093733

Shaw Farm (Plumpton) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Shaw Farm (Plumpton) Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Financial Statements

4 to 7

 

Shaw Farm (Plumpton) Limited

Company Information

Directors

Sir Edward Cazalet

Mr David Cazalet

Company secretary

Sir Edward Cazalet

Registered office

8th Floor
1 Southampton Street
London
WC2R 0LR

Accountants

Charter Tax Consulting Limited
8th Floor
1 Southampton Street
London
WC2R 0LR

 

Shaw Farm (Plumpton) Limited

(Registration number: 01093733)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

157,561

158,018

Current assets

 

Debtors

5

16,614

2,199

Cash at bank and in hand

 

27,945

44,401

 

44,559

46,600

Creditors: Amounts falling due within one year

6

(10,777)

(12,191)

Net current assets

 

33,782

34,409

Net assets

 

191,343

192,427

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

191,339

192,423

Shareholders' funds

 

191,343

192,427

For the financial year ending 31 March 2024 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 12 October 2024 and signed on its behalf by:
 

Sir Edward Cazalet
Company secretary and director

Mr David Cazalet
Director

 
     
 

Shaw Farm (Plumpton) Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

4

192,423

192,427

Loss for the year

-

(1,084)

(1,084)

At 31 March 2024

4

191,339

191,343

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

4

192,889

192,893

Loss for the year

-

(466)

(466)

At 31 March 2023

4

192,423

192,427


 

 

Shaw Farm (Plumpton) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England .

The address of its registered office is:
8th Floor
1 Southampton Street
London
WC2R 0LR
U.K.

The principal place of business is:
The Cottage, Shaw Farm
Plumpton Green
Lewes
East Sussex
BN7 3DG

The financial statements are presented in Sterling, the functional currency of the company.

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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 in respect of contract income and government grants and is shown net of value added tax, returns, rebates and discounts.

Contract revenue recognition

Revenue in respect of herbage and grazing agreements is recognised in the accounting period to which it relates.

Government grants

Revenue in respect of grants and subsidies is recognised in the accounting period to which it relates.

 

Shaw Farm (Plumpton) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Buildings

1% on the reducing balance

Plant and machinery

15% on the reducing balance

Farm drive

depreciated over 10 years, straight line

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

163,533

11,787

175,320

At 31 March 2024

163,533

11,787

175,320

Depreciation

At 1 April 2023

7,784

9,518

17,302

Charge for the year

117

340

457

At 31 March 2024

7,901

9,858

17,759

Carrying amount

At 31 March 2024

155,632

1,929

157,561

At 31 March 2023

155,749

2,269

158,018

Only buildings are depreciated but land and buildings are shown as one column in the table above.

 

Shaw Farm (Plumpton) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

5

Debtors

2024
£

2023
£

Prepayments

895

1,715

VAT Control account

1,625

484

Accrued income

14,094

-

16,614

2,199

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

1,232

739

The Sir Edward Cazalet 2002 Discretionary Trust

187

1,852

Accruals

7,158

7,800

Other related parties

2,200

1,800

10,777

12,191

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

       

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

986

986

The amount of non-cancellable operating lease payments recognised as an expense during the year was £986 (2023 - £986).

 

Shaw Farm (Plumpton) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Transactions with directors

Sir Edward Cazalet, a director of the company, has made loans to the company. These are included in creditors, amounts falling due within one year as other creditors. At the balance sheet date the amount due to Sir Edward Cazalet was £ 600 ( 2023 : £ 600 ).

David Cazalet, a director of the company, has made loans to the company. These are included in creditors, amounts falling due within one year as other creditors. At the balance sheet date the amount due to David Cazalet was £ 1,600 ( 2023 : £ 1,200 ).

The above loans are interest free and repayable on demand.

Summary of transactions with other related parties

The amount outstanding on the loan from The Sir Edward Cazalet 2002 Discretionary Trust at the end of the year was £187 (2023 - £1,852)

The above loan is repayable in full within four weeks on written demand by the lender.

10

Parent and ultimate parent undertaking

The ultimate controlling party is The Sir Edward Cazalet 2002 Discretionary Trust.