REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JANUARY 2024 |
FOR |
THE SUNNYFIELDS PARTNERSHIP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JANUARY 2024 |
FOR |
THE SUNNYFIELDS PARTNERSHIP LIMITED |
THE SUNNYFIELDS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04863078) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31ST JANUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE SUNNYFIELDS PARTNERSHIP LIMITED |
COMPANY INFORMATION |
for the Year Ended 31ST JANUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Monks Brook House |
13 - 17 Hursley Road |
Chandlers Ford |
Eastleigh |
Hampshire |
SO53 2FW |
THE SUNNYFIELDS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04863078) |
BALANCE SHEET |
31ST JANUARY 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE SUNNYFIELDS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04863078) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31ST JANUARY 2024 |
1. | STATUTORY INFORMATION |
The Sunnyfields Partnership Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has had a positive year resulting in a profit and considerable year on year improvement. The stronger bottom line performance stemmed from (1) investments made in the main Sunnyfields site, (2) expansion of the 'Pumpkin Festival', (3) increased farm shop selection and (4) a change in sales mix away from home delivery, which as a result has reduced the net balance sheet deficit. |
Turnover for the company more than doubled as the positive growth of events, farm shop and other onsite activities was offset by the conscious decision to reduce the home delivery segment of the business. Expenditure was reduced, mainly due to the divesting from the home delivery business. |
The relationship with Triodos Bank is positive and they remain supportive, with the bank loan within terms and discussions of additional funding for new opportunities in progress. |
Turnover |
Turnover represents income received by the company from its principal activity during the year, net of value added tax. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Freehold land and buildings |
Freehold land and buildings are stated at valuation. Valuations are made by the director with the assistance of independent professional advice. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
THE SUNNYFIELDS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04863078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST JANUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st February 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st January 2024 |
DEPRECIATION |
At 1st February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st January 2024 |
NET BOOK VALUE |
At 31st January 2024 |
At 31st January 2023 |
Included in cost or valuation of land and buildings is freehold land of £ 33,000 (2023 - £ 33,000 ) which is not depreciated. |
THE SUNNYFIELDS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04863078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST JANUARY 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31st January 2024 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2010 | 8,815 | - | 8,815 |
Valuation in 2015 | 8,326 | - | 8,326 |
Cost | 15,859 | 2,307,948 | 2,323,807 |
33,000 | 2,307,948 | 2,340,948 |
If the freehold property had not been revalued it would have been included at the following historical cost: |
31.1.24 | 31.1.23 |
£ | £ |
Cost | 15,859 | 15,859 |
Value of land in freehold land and buildings | 15,859 | 15,859 |
Freehold property was valued on an open market basis on 31st January 2019 by the directors with professional advice . |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST OR VALUATION |
At 1st February 2023 |
Disposals | ( |
) |
Transfer to ownership | (98,045 | ) |
At 31st January 2024 |
DEPRECIATION |
At 1st February 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
Transfer to ownership | (19,290 | ) |
At 31st January 2024 |
NET BOOK VALUE |
At 31st January 2024 |
At 31st January 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade debtors |
Other debtors |
THE SUNNYFIELDS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04863078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST JANUARY 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | 146,736 | 161,448 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.24 | 31.1.23 |
£ | £ |
Bank overdraft |
Bank loans |
9. | OTHER FINANCIAL COMMITMENTS |
The total amount of financial commitments not included in the balance sheet is £591,155 (2023: £16,611) |