Registered number
07897054
Cross Hall Farm Caravan Park Limited
Unaudited Filleted Accounts
For the Year Ended
29 February 2024
Cross Hall Farm Caravan Park Limited
Registered number: 07897054
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,200 1,350
Tangible assets 4 199,717 200,805
200,917 202,155
Current assets
Stocks 160 160
Creditors: amounts falling due within one year 5 (79,062) (78,254)
Net current liabilities (78,902) (78,094)
Total assets less current liabilities 122,015 124,061
Provisions for liabilities (1,860) (2,066)
Net assets 120,155 121,995
Capital and reserves
Called up share capital 2 2
Profit and loss account 120,153 121,993
Shareholders' funds 120,155 121,995
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R D Brewer
Director
Approved by the board on 27 November 2024
Cross Hall Farm Caravan Park Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 3,000
At 29 February 2024 3,000
Amortisation
At 1 March 2023 1,650
Provided during the year 150
At 29 February 2024 1,800
Net book value
At 29 February 2024 1,200
At 28 February 2023 1,350
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 189,929 17,787 207,716
At 29 February 2024 189,929 17,787 207,716
Depreciation
At 1 March 2023 - 6,911 6,911
Charge for the year - 1,088 1,088
At 29 February 2024 - 7,999 7,999
Net book value
At 29 February 2024 189,929 9,788 199,717
At 28 February 2023 189,929 10,876 200,805
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 33,313 45,599
Trade creditors - 1,226
Corporation tax 314 4,357
Other taxes and social security costs 452 -
Other creditors 44,983 27,072
79,062 78,254
6 Other information
Cross Hall Farm Caravan Park Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cross Hall Farm
Cautley
Sedbergh
Cumbria
LA10 5LY
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