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Registration number: 08035610

Castle Goring Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

image-name
 

Castle Goring Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Castle Goring Limited

Company Information

Director

Lady Georgia Arianna Colin Campbell

Registered office

Castle Goring
Arundel Road
Worthing
West Sussex
BN13 3UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Castle Goring Limited

(Registration number: 08035610)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

3,799,855

3,806,347

Current assets

 

Debtors

6

179,161

68,701

Cash at bank and in hand

 

10,704

117,058

 

189,865

185,759

Creditors: Amounts falling due within one year

7

(1,292,146)

(1,318,565)

Net current liabilities

 

(1,102,281)

(1,132,806)

Total assets less current liabilities

 

2,697,574

2,673,541

Creditors: Amounts falling due after more than one year

7

(8,240)

(16,720)

Provisions for liabilities

(671,634)

(659,170)

Net assets

 

2,017,700

1,997,651

Capital and Reserves

 

Called up share capital

100

100

Other reserves

1,977,508

1,977,508

Retained Earnings

40,092

20,043

Shareholders' funds

 

2,017,700

1,997,651

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Castle Goring Limited

(Registration number: 08035610)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 24 January 2025
 

.........................................
Lady Georgia Arianna Colin Campbell
Director

   
     
 

Castle Goring Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Castle Goring
Arundel Road
Worthing
West Sussex
BN13 3UF

These financial statements were authorised for issue by the director on 24 January 2025.

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 presented in Sterling, which is the functional currency of the company.

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.

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.

 

Castle Goring Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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

Furniture and fittings

25% Reducing balance

Plant and machinery

10% Reducing balance

Office equipment

5% Reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

 

Castle Goring Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Castle Goring Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

 

Castle Goring Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

2024
 No.

2023
 No.

Administration and support

1

1

1

1

 

Castle Goring Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible Assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

3,750,000

80,725

19,987

3,850,712

At 30 April 2024

3,750,000

80,725

19,987

3,850,712

Depreciation

At 1 May 2023

-

36,180

8,185

44,365

Charge for the year

-

5,312

1,180

6,492

At 30 April 2024

-

41,492

9,365

50,857

Carrying amount

At 30 April 2024

3,750,000

39,233

10,622

3,799,855

At 30 April 2023

3,750,000

44,545

11,802

3,806,347

5

Stocks

2024
£

2023
£

6

Debtors

Current

2024
£

2023
£

Prepayments

-

1,240

Other debtors

179,161

67,461

 

179,161

68,701

 

Castle Goring Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

8

1,132,680

1,316,780

Social security and other taxes

 

2,156

-

Accrued expenses

 

151,785

1,785

Corporation tax liability

5,525

-

 

1,292,146

1,318,565

Due after one year

 

Loans and borrowings

8

8,240

16,720

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

8,240

16,720

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

781,270

774,014

Other borrowings

351,410

542,766

1,132,680

1,316,780

This loan is secured by a fixed and floating charge over the assets held by the company. In addition to this, the director has provided a personal guarantee to the value of the loan.