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Registration number: 13672166

Whitecross Farm Business Park Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Whitecross Farm Business Park Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Whitecross Farm Business Park Ltd

Company Information

Directors

Mr D J Hitchings

Miss E Hitchings

Company secretary

Mrs T Sage

Registered office

Unit 23
Church Farm Business Park
Corston
Bath
BA2 9AP

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Whitecross Farm Business Park Ltd

(Registration number: 13672166)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

619,601

613,507

Current assets

 

Debtors

4

20,047

15,022

Cash at bank and in hand

 

1,213

13,973

 

21,260

28,995

Creditors: Amounts falling due within one year

5

(593,437)

(607,436)

Net current liabilities

 

(572,177)

(578,441)

Net assets

 

47,424

35,066

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

47,324

34,966

Shareholders' funds

 

47,424

35,066

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.

 

Whitecross Farm Business Park Ltd

(Registration number: 13672166)
Balance Sheet as at 29 February 2024

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 25 November 2024 and signed on its behalf by:
 

.........................................
Mr D J Hitchings
Director

 

Whitecross Farm Business Park Ltd

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

1

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.

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 sales/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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Land and buildings

No depreciation

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

 

Whitecross Farm Business Park Ltd

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

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

 

Whitecross Farm Business Park Ltd

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

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 March 2023

613,507

613,507

Additions

6,094

6,094

At 29 February 2024

619,601

619,601

Depreciation

Carrying amount

At 29 February 2024

619,601

619,601

At 28 February 2023

613,507

613,507

Included within the net book value of land and buildings above is £619,601 (2023 - £613,507) in respect of freehold land and buildings.
 

4

Debtors

Current

2024
£

2023
£

Trade debtors

14,320

10,160

Prepayments

1,843

1,332

Other debtors

3,884

3,530

 

20,047

15,022

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

125,178

155,800

Taxation and social security

-

2,370

Accruals and deferred income

32,960

13,967

Other creditors

435,299

435,299

593,437

607,436

 

Whitecross Farm Business Park Ltd

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

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100