Company registration number 10794614 (England and Wales)
TANFIELD LODGE DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TANFIELD LODGE DEVELOPMENTS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
TANFIELD LODGE DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
333
500
Tangible assets
5
760,004
789,828
760,337
790,328
Current assets
Stocks
2,000
2,000
Debtors
6
281,143
261,365
Cash at bank and in hand
19,214
8,422
302,357
271,787
Creditors: amounts falling due within one year
7
(1,247,246)
(1,145,211)
Net current liabilities
(944,889)
(873,424)
Total assets less current liabilities
(184,552)
(83,096)
Creditors: amounts falling due after more than one year
8
(30,828)
(67,958)
Provisions for liabilities
(38,324)
(16,440)
Net liabilities
(253,704)
(167,494)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(253,804)
(167,594)
Total equity
(253,704)
(167,494)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TANFIELD LODGE DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 24 December 2024 and are signed on its behalf by:
Mr R Bourne-Arton
Mrs D E Bourne-Arton
Director
Director
Company registration number 10794614 (England and Wales)
TANFIELD LODGE DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 3 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Tanfield Lodge Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Tanfield Lodge, West Tanfield, Ripon, HG4 5LE. The company registration number is 10794614.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Tanfield Lodge Developments Limited is a wholly owned subsidiary of Tanfield Estate Company Limited.

2.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

2.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

2.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
25% reducing balance
TANFIELD LODGE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2
Accounting policies
(Continued)
- 4 -
2.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
nil
Leasehold improvements
nil
Plant and equipment
25 years straight line
Fixtures and fittings
5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials and overheads that have been incurred in bringing the stocks to their present location and condition.

2.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
6
TANFIELD LODGE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Intangible fixed assets
Other
£
Cost
At 1 April 2023 and 31 March 2024
2,000
Amortisation
At 1 April 2023
1,500
Amortisation charged for the year
167
At 31 March 2024
1,667
Carrying amount
At 31 March 2024
333
At 31 March 2023
500
5
Tangible fixed assets
Freehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
£
Cost
At 1 April 2023
240,129
5,810
656,050
34,658
936,647
Additions
-
0
-
0
-
0
3,463
3,463
At 31 March 2024
240,129
5,810
656,050
38,121
940,110
Depreciation and impairment
At 1 April 2023
-
0
-
0
118,863
27,956
146,819
Depreciation charged in the year
-
0
-
0
26,242
7,045
33,287
At 31 March 2024
-
0
-
0
145,105
35,001
180,106
Carrying amount
At 31 March 2024
240,129
5,810
510,945
3,120
760,004
At 31 March 2023
240,129
5,810
537,187
6,702
789,828
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
56
-
0
Amounts owed by group undertakings
4,020
4,020
Other debtors
277,067
257,345
281,143
261,365
TANFIELD LODGE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
37,116
36,620
Trade creditors
22,727
9,208
Amounts owed to group undertakings
229,768
161,775
Taxation and social security
10,805
15,718
Other creditors
946,830
921,890
1,247,246
1,145,211
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,828
67,958
9
Related party transactions
Transactions with related parties

At the period end the company was owed £35,553 (2023 - £26,053) from Tanfield Springs Ltd, £21,494 (2023 - £11,494) from Yorkshire Hydro LLP and £4,020 (2023 - £4,020) from Tanfield Estate Company Ltd. The company directors are also directors of Tanfield Springs Ltd and members of Yorkshire Hydro LLP. Tanfield Estate Company Ltd is the parent company of Tanfield Lodge Developments Ltd.

 

At the period end the company was also owed a loan of £26 (2023 - nil) from Net Zero Water Limited, £155,500 (2023 - £155,500) on an interest free basis from Haddlesey Lock Limited. One of the company directors is also a director of Net Zero Water Limited and Haddlesey Lock Limited.

 

At the period end the company owed a loan of £216,611 (2023 - £143,617) and £13,157 (2023 - £18,157) to Mickley Hydro Scheme Limited and Tanfield Woodlands Limited respectively. Both companies are subsidiaries of Tanfield Estate Company Limited which is the parent of Tanfield Lodge Developments Limited.

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