Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue2023-08-01The principal activity of the company is that of developing land for re-sale.11falsefalse 14505922 2023-08-01 2024-07-31 14505922 2022-11-25 2023-07-31 14505922 2024-07-31 14505922 2023-07-31 14505922 c:Director1 2023-08-01 2024-07-31 14505922 d:CurrentFinancialInstruments 2024-07-31 14505922 d:CurrentFinancialInstruments 2023-07-31 14505922 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 14505922 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 14505922 d:ShareCapital 2024-07-31 14505922 d:ShareCapital 2023-07-31 14505922 d:RetainedEarningsAccumulatedLosses 2024-07-31 14505922 d:RetainedEarningsAccumulatedLosses 2023-07-31 14505922 c:FRS102 2023-08-01 2024-07-31 14505922 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 14505922 c:FullAccounts 2023-08-01 2024-07-31 14505922 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 14505922 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 14505922










Horsielands Farm Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 July 2024

 
Horsielands Farm Ltd
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Horsielands Farm Ltd for the year ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Horsielands Farm Ltd for the year ended 31 July 2024 which comprise  the Balance sheet and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the director of Horsielands Farm Ltd in accordance with the terms of our engagement letter dated 04 April 2023Our work has been undertaken solely to prepare for your approval the financial statements of Horsielands Farm Ltd and state those matters that we have agreed to state to the director of Horsielands Farm Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Horsielands Farm Ltd and its director for our work or for this report. 

It is your duty to ensure that Horsielands Farm Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Horsielands Farm Ltd. You consider that Horsielands Farm Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Horsielands Farm Ltd. 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 financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
3 January 2025
Page 1

 
Horsielands Farm Ltd
Registered number: 14505922

Balance sheet
As at 31 July 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
858,522
806,170

Debtors: amounts falling due within one year
 5 
2
189

Cash at bank and in hand
  
39,920
93,607

  
898,444
899,966

Creditors: amounts falling due within one year
  
(901,500)
(901,000)

Net current liabilities
  
 
 
(3,056)
 
 
(1,034)

Total assets less current liabilities
  
(3,056)
(1,034)

  

Net liabilities
  
(3,056)
(1,034)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(3,058)
(1,036)

  
(3,056)
(1,034)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
N C Kenward
Director
Date: 2 January 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
Horsielands Farm Ltd
 

 
Notes to the financial statements
For the year ended 31 July 2024

1.


General information

The company is a private company, limited by share capital, and incorporated in England and Wales. The address of its registered office is: Eastwood Farm Rusper Road, Newdigate, Dorking, Surrey, RH5 5BX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 have been presented in £ Sterling and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

Not withstanding the net current liabilities of £3,056, the accounts have been prepared on a going concern basis as the director is of the opinion that the business has sufficient working capital to meet its foreseeable requirements over the next 12 months. If the going concern basis were not appropriate, adjustments would have to be made to reduce the assets to their recoverable amount, to provide for any further liabilities that might arise, and to reclassify fixed assets as current assets. 

 
2.3

Work in progress

Work in progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase made in relation to the land development including labour and attributable overheads.
At each balance sheet date, work in progress is assessed for impairment. If 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.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price.

Page 3

 
Horsielands Farm Ltd
 

 
Notes to the financial statements
For the year ended 31 July 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).








4.


Stocks

2024
2023
£
£

Work in progress
858,522
806,170

858,522
806,170



5.


Debtors

2024
2023
£
£


Other debtors
2
189

2
189



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to related party
900,000
900,000

Accruals and deferred income
1,500
1,000

901,500
901,000


Page 4

 
Horsielands Farm Ltd
 

 
Notes to the financial statements
For the year ended 31 July 2024

7.


Related party transactions

Nick Kenward Construction Limited
(Common control)
During the year Nick Kenward Construction Limited continued to provide a loan to the company. The loan is interest free and repayable on demand. At the balance sheet date the amount due to Nick Kenward Construction Limited was £900,000 (2023 - £900,000).


Page 5