Staplegrove Livestock (Holdings) Limited 07164743 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is holiday lets Digita Accounts Production Advanced 6.30.9574.0 true true 07164743 2023-03-01 2024-02-29 07164743 2024-02-29 07164743 2 2024-02-29 07164743 core:CurrentFinancialInstruments 2024-02-29 07164743 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 07164743 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-29 07164743 core:PlantMachinery 2024-02-29 07164743 1 2024-02-29 07164743 bus:SmallEntities 2023-03-01 2024-02-29 07164743 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07164743 bus:FilletedAccounts 2023-03-01 2024-02-29 07164743 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07164743 bus:RegisteredOffice 2023-03-01 2024-02-29 07164743 bus:Director1 2023-03-01 2024-02-29 07164743 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07164743 core:Buildings 2023-03-01 2024-02-29 07164743 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07164743 core:PlantMachinery 2023-03-01 2024-02-29 07164743 countries:AllCountries 2023-03-01 2024-02-29 07164743 1 2023-03-01 2024-02-29 07164743 2023-02-28 07164743 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 07164743 core:PlantMachinery 2023-02-28 07164743 1 2023-02-28 07164743 2022-03-01 2023-02-28 07164743 2023-02-28 07164743 2 2023-02-28 07164743 core:CurrentFinancialInstruments 2023-02-28 07164743 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 07164743 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 07164743 core:PlantMachinery 2023-02-28 07164743 1 2023-02-28 07164743 1 2022-03-01 2023-02-28 07164743 1 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 07164743

Staplegrove Livestock (Holdings) Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Staplegrove Livestock (Holdings) Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Staplegrove Livestock (Holdings) Limited

(Registration number: 07164743)
Statement of Financial Position as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,630,864

2,634,850

Current assets

 

Debtors

5

30,419

45,980

Investments

6

2

2

Cash at bank and in hand

 

275,346

86,896

 

305,767

132,878

Creditors: Amounts falling due within one year

7

(1,879,988)

(1,755,637)

Net current liabilities

 

(1,574,221)

(1,622,759)

Total assets less current liabilities

 

1,056,643

1,012,091

Provisions for liabilities

(20,121)

(20,464)

Net assets

 

1,036,522

991,627

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

1,036,520

991,625

Shareholders' funds

 

1,036,522

991,627

For the financial year ending 29 February 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 29 May 2024 and signed on its behalf by:
 

 

Staplegrove Livestock (Holdings) Limited

(Registration number: 07164743)
Statement of Financial Position as at 29 February 2024 (continued)


Mrs Melanie Alford
Director

 

Staplegrove Livestock (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
Foxhill Farm
Blackborough
Cullompton
Devon
EX15 2HU

Principal activity

The principal activity of the company is holiday lets

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Staplegrove Livestock (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated 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

Freehold property

investment policy, see below

Plant and machinery

10% / 15% / 20% reducing balance

 

Staplegrove Livestock (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

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

 

Staplegrove Livestock (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

2,540,169

308,915

2,849,084

Additions

-

12,040

12,040

At 29 February 2024

2,540,169

320,955

2,861,124

Depreciation

At 1 March 2023

-

214,234

214,234

Charge for the year

-

16,026

16,026

At 29 February 2024

-

230,260

230,260

Carrying amount

At 29 February 2024

2,540,169

90,695

2,630,864

At 28 February 2023

2,540,169

94,681

2,634,850

Included within the net book value of land and buildings above is £2,540,169 (2023 - £2,540,169) in respect of freehold land and buildings.
 

5

Debtors

Note

2024
£

2023
£

Other debtors

 

30,045

1,825

Prepayments

 

374

-

Income tax asset

-

44,155

 

30,419

45,980

6

Current asset investments

2024
£

2023
£

Shares in group undertakings

2

2

 

Staplegrove Livestock (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

4,283

4,458

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

1,738,278

1,637,905

Taxation and social security

 

2,988

7,642

Accruals and deferred income

 

5,338

4,223

Other creditors

 

129,101

101,409

 

1,879,988

1,755,637

Creditors: amounts falling due after more than one year

2024
£

2023
£

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Directors advances, credits and guarantees

2024

At 1 March 2023
£

Repayments by director
£

At 29 February 2024
£

Directors Loan Account

34,877

(20,611)

14,266

       
     

 

2023

At 1 March 2022
£

Advances to director
£

At 28 February 2023
£

Directors Loan Account

(49,849)

84,726

34,877