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Registration number: 12875358

The Cornish Maize Maze & Fun Farm Ltd

trading as The Cornish Maize Maze & Fun Farm Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

The Cornish Maize Maze & Fun Farm Ltd

trading as The Cornish Maize Maze & Fun Farm Ltd

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 4

 

The Cornish Maize Maze & Fun Farm Ltd

trading as The Cornish Maize Maze & Fun Farm Ltd

(Registration number: 12875358)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

38,872

18,390

Current assets

 

Stocks

250

250

Debtors

28,677

-

Cash at bank and in hand

 

27,381

120,789

 

56,308

121,039

Creditors: Amounts falling due within one year

(47,562)

(50,194)

Net current assets

 

8,746

70,845

Total assets less current liabilities

 

47,618

89,235

Provisions for liabilities

(6,600)

(2,608)

Net assets

 

41,018

86,627

Capital and reserves

 

Called up share capital

103

103

Profit and loss account

40,915

86,524

Total equity

 

41,018

86,627

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

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 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 20 February 2025 and signed on its behalf by:
 

Mr R Jones
Director

Mr A Jones
Director

Mrs S Jones
Director

     
 

The Cornish Maize Maze & Fun Farm Ltd

trading as The Cornish Maize Maze & Fun Farm Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Smeaton Farmhouse
Pillaton
Saltash
Cornwall
PL12 6RZ

These financial statements were authorised for issue by the Board on 20 February 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

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 the future economic benefits will flow into the entity, and specific criteria have been met for each of the company 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.

The current 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

The Cornish Maize Maze & Fun Farm Ltd

trading as The Cornish Maize Maze & Fun Farm Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

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

Plant and machinery

15% and 50% reducing balance

Office equipment

15% reducing balance

Land and buildings

2% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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 stocks 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2023 - 21).

 

The Cornish Maize Maze & Fun Farm Ltd

trading as The Cornish Maize Maze & Fun Farm Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Total
£

Cost or valuation

At 1 October 2023

26,524

Additions

39,416

At 30 September 2024

65,940

Depreciation

At 1 October 2023

8,134

Charge for the year

18,934

At 30 September 2024

27,068

Carrying amount

At 30 September 2024

38,872

At 30 September 2023

18,390

5

Related party transactions

Advances to directors

Mr R Jones

During the period Mr R Jones went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £60,565 (2023 - £Nil). At the year end the amount outstanding from Mr R Jones was £14,340 (2023 - £Nil). Interest has been charged at the commercial rate.

Mrs S Jones

During the period Mrs S Jones went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £60,565 (2023 - £Nil). At the year end the amount outstanding from Mrs S Jones was £14,340 (2023 - £Nil). Interest has been charged at the commercial rate.