Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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289,455 | 282,392 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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313,368 | 449,358 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 263,557 | 365,745 | ||
Total assets less current liabilities | 553,012 | 648,137 | ||
Provision for liabilities | (
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Accruals and deferred income | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Boscastle Farm Shop Limited (registered number:
Mr R Haddy
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Boscastle Farm Shop Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Boscastle Farm Shop, Hillsborough, St Juliot, Boscastle,, Cornwall, PL35 0HH, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The amount of revenue can 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.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Land and buildings |
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Plant and machinery |
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Vehicles |
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The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Land and buildings | Plant and machinery | Vehicles | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 February 2023 |
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Additions |
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At 31 January 2024 |
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Accumulated depreciation | |||||||
At 01 February 2023 |
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Charge for the financial year |
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At 31 January 2024 |
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Net book value | |||||||
At 31 January 2024 |
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At 31 January 2023 |
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2024 | 2023 | ||
£ | £ | ||
Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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600 | 600 |
Commitments
The total amount of financial commitments not included in the balance sheet is £93,951 (2022 - £98,222).
Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
Balance brought forward | (21,345) | (47,400) | |
Advances to director | (62,880) | (71,095) | |
Repayments by director | 93,000 | 98,000 | |
Interest charged on loan account | 0 | (850) | |
Balance carried forward | 8,775 | (21,345) |
Other related party transactions
2024 | 2023 | ||
£ | £ | ||
Balance brought forward | (8,124) | (53,000) | |
Advances to shareholder | (17,000) | 0 | |
Repayments by shareholder | 8,100 | 45,000 | |
Interest charged on loan | (52) | (124) | |
Balance carried forward | (17,076) | (8,124) |