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Registration number: 13227204

St Eigons Spring Farm Limited

Annual Report and

Unaudited Financial Statements


for the Period from 1 March 2023 to 28 February 2024

 

St Eigons Spring Farm Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 13

Detailed Profit and Loss Account

14 to 16

 

St Eigons Spring Farm Limited

Company Information

Directors

Mrs R U Watkins

Mr M A Laurent

Registered office
 


St Eigons Spring Farm
Llanigon
Hereford
Powys
HR3 5QD

 

Accountants

W J James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG
 

Bankers

Zempler
Cottons Centre
Cottons Lane
London
SE1 2QG

 

St Eigons Spring Farm Limited

Directors' Report
for the Period from 1 March 2023 to 28 February 2024

The directors present their report and the financial statements for the period from 1 March 2023 to 28 February 2024.

Directors of the company

The directors who held office during the period were as follows:

Mrs R U Watkins

Mr M A Laurent

Principal activity

The principal activity of the company is venue hire.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

.........................................
Mrs R U Watkins
Director

.........................................
Mr M A Laurent
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
St Eigons Spring Farm Limited
for the Period Ended 28 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of St Eigons Spring Farm Limited for the period ended 28 February 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of St Eigons Spring Farm Limited, as a body, in accordance with the terms of our engagement letter dated 26 February 2021. Our work has been undertaken solely to prepare for your approval the accounts of St Eigons Spring Farm Limited and state those matters that we have agreed to state to the Board of Directors of St Eigons Spring Farm Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than St Eigons Spring Farm Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that St Eigons Spring Farm Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of St Eigons Spring Farm Limited. You consider that St Eigons Spring Farm Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of St Eigons Spring Farm Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

W J James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

19 November 2024

 

St Eigons Spring Farm Limited

Profit and Loss Account
for the Period from 1 March 2023 to 28 February 2024

Note

2024
£

2023
£

Turnover

 

9,088

11,689

Cost of sales

 

(867)

(949)

Gross profit

 

8,221

10,740

Administrative expenses

 

(9,276)

(14,308)

Operating loss

 

(1,055)

(3,568)

Loss before tax

4

(1,055)

(3,568)

Loss for the financial period

 

(1,055)

(3,568)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

St Eigons Spring Farm Limited

Statement of Comprehensive Income
for the Period from 1 March 2023 to 28 February 2024

2024
£

2023
£

Loss for the period

(1,055)

(3,568)

Total comprehensive income for the period

(1,055)

(3,568)

 

St Eigons Spring Farm Limited

(Registration number: 13227204)

Balance Sheet
as at 28 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

34,519

38,250

Current assets

 

Stocks

6,330

-

Cash at bank and in hand

 

39

100

 

6,369

100

Creditors: Amounts falling due within one year

6

(59,105)

(55,512)

Net current liabilities

 

(52,736)

(55,412)

Net liabilities

 

(18,217)

(17,162)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(18,317)

(17,262)

Shareholders' deficit

 

(18,217)

(17,162)

For the financial period ending 28 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 period 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.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

 

St Eigons Spring Farm Limited

(Registration number: 13227204)

Balance Sheet
as at 28 February 2024

.........................................
Mrs R U Watkins
Director

.........................................
Mr M A Laurent
Director

 

St Eigons Spring Farm Limited

Statement of Changes in Equity
for the Period from 1 March 2023 to 28 February 2024

Share capital
£

Retained earnings
£

Total
£

At 1 March 2023

100

(17,262)

(17,162)

Loss for the period

-

(1,055)

(1,055)

At 28 February 2024

100

(18,317)

(18,217)



 

Share capital
£

Retained earnings
£

Total
£

At 1 March 2022

-

(13,694)

(13,694)

Loss for the period

-

(3,568)

(3,568)

New share capital subscribed

100

-

100

At 28 February 2023

100

(17,262)

(17,162)

 

St Eigons Spring Farm Limited

Notes to the Unaudited Financial Statements
for the Period from 1 March 2023 to 28 February 2024

1

General information

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

The address of its registered office is:
St Eigons Spring Farm
Llanigon
Hereford
Powys
HR3 5QD

These financial statements were authorised for issue by the Board on 19 November 2024.

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 presented in sterling, which is the functional currency of the company, and rounded up to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.The largest creditors are the directors. The company is reliant on the continued financial support of the directors who will not seek repayment of their loans to the company until the company is in a financial position to make loan repayments.

Revenue recognition

Turnover comprises the fair value of monies received or receivable for letting income.

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

Improvements to leasehold property

5% cost

Fixtures and fittings

20% reducing balance

 

St Eigons Spring Farm Limited

Notes to the Unaudited Financial Statements
for the Period from 1 March 2023 to 28 February 2024

Plant and machinery

20% reducing balance

Consumables

Nil

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2023 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

3,730

4,321

 

St Eigons Spring Farm Limited

Notes to the Unaudited Financial Statements
for the Period from 1 March 2023 to 28 February 2024

5

Tangible assets

Improvements to
leasehold property
£

Fixtures and fittings
£

Plant and machinery
£

Consumables
 £

Cost or valuation

At 1 March 2023

27,327

6,962

11,434

1,834

At 28 February 2024

27,327

6,962

11,434

1,834

Depreciation

At 1 March 2023

2,733

2,458

4,116

-

Charge for the period

1,366

901

1,464

-

At 28 February 2024

4,099

3,359

5,580

-

Carrying amount

At 28 February 2024

23,228

3,603

5,854

1,834

At 28 February 2023

24,594

4,504

7,318

1,834

Total
£

Cost or valuation

At 1 March 2023

47,557

At 28 February 2024

47,557

Depreciation

At 1 March 2023

9,307

Charge for the period

3,731

At 28 February 2024

13,038

Carrying amount

At 28 February 2024

34,519

At 28 February 2023

38,250

 

St Eigons Spring Farm Limited

Notes to the Unaudited Financial Statements
for the Period from 1 March 2023 to 28 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

300

Accruals and deferred income

1,906

896

Other creditors

57,199

54,316

59,105

55,512

 

St Eigons Spring Farm Limited

Notes to the Unaudited Financial Statements
for the Period from 1 March 2023 to 28 February 2024

7

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Advances to director
£

Other payments made to company by director
£

At 28 February 2024
£

Mrs R U Watkins

Loan from the director to the company

46,056

(10,317)

13,421

49,160

         
       

Mr M A Laurent

Loan from the director to the company

8,260

(3,521)

3,300

8,039

         
       

 

2023

At 1 March 2022
£

Advances to director
£

Other payments made to company by director
£

At 28 February 2023
£

Mrs R U Watkins

Loan from the director to the company

51,067

(10,671)

5,660

46,056

         
       

Mr M A Laurent

Loan from the director to the company

4,669

(4,275)

7,866

8,260

         
       

 

Directors' remuneration

The directors' remuneration for the period was as follows:

2024
£

2023
£

Remuneration

-

3,775

 

St Eigons Spring Farm Limited

Detailed Profit and Loss Account
for the Period from 1 March 2023 to 28 February 2024

1 March 2023 to 28 February 2024
 £

Year ended 28 February 2023
 £

Turnover (analysed below)

9,088

11,689

Cost of sales (analysed below)

(867)

(949)

Gross profit

8,221

10,740

Administrative expenses

Employment costs (analysed below)

-

3,775

Establishment costs (analysed below)

1,660

2,256

General administrative expenses (analysed below)

3,876

3,946

Finance charges (analysed below)

10

10

Depreciation costs (analysed below)

3,730

4,321

(9,276)

(14,308)

Operating loss

(1,055)

(3,568)

Loss before tax

(1,055)

(3,568)

 

St Eigons Spring Farm Limited

Detailed Profit and Loss Account
for the Period from 1 March 2023 to 28 February 2024

1 March 2023 to 28 February 2024
 £

Year ended 28 February 2023
 £

Turnover

Hire of yurts

-

1,350

Venue hire income

363

1,349

Holiday letting income

8,725

8,990

9,088

11,689

Cost of sales

Purchase of alpacas

6,330

-

Lettings commissions

304

315

Welcome packs

563

634

Stock of alpacas

(6,330)

-

(867)

(949)

Employment costs

Directors' remuneration

-

3,775

-

(3,775)

Establishment costs

Rates

188

186

Light, heat and power

592

820

Insurance

-

221

Repairs and renewals

591

582

Gardens and grounds maintenance

289

447

(1,660)

(2,256)

General administrative expenses

Telephone

276

276

Consumables

1,079

920

Subscriptions

126

-

Cleaning

747

846

Motor expenses

468

468

Accountancy

1,180

1,436

(3,876)

(3,946)

Finance charges

Bank charges

10

10

(10)

(10)

 

St Eigons Spring Farm Limited

Detailed Profit and Loss Account
for the Period from 1 March 2023 to 28 February 2024

1 March 2023 to 28 February 2024
 £

Year ended 28 February 2023
 £

Depreciation costs

Depreciation of improvements to leasehold property

1,366

1,366

Depreciation of plant and machinery

1,463

1,829

Depreciation of fixtures and fittings

901

1,126

(3,730)

(4,321)

Operating loss

(1,055)

(3,568)

Loss before tax

(1,055)

(3,568)