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Registration number: 01826477

Horsfields (Church Farm) 1984 Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2024

 

Horsfields (Church Farm) 1984 Ltd

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 6

 

Horsfields (Church Farm) 1984 Ltd

(Registration number: 01826477)
Abridged Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

109,078

373,888

Other financial assets

6

129,064

-

 

238,142

373,888

Current assets

 

Stocks

98,135

88,151

Debtors

854,959

18,148

Cash at bank and in hand

 

177,501

333,120

 

1,130,595

439,419

Creditors: Amounts falling due within one year

(231,934)

(252,811)

Net current assets

 

898,661

186,608

Total assets less current liabilities

 

1,136,803

560,496

Provisions for liabilities

(26,204)

(28,490)

Net assets

 

1,110,599

532,006

Capital and reserves

 

Called up share capital

10,002

10,000

Share premium reserve

200,000

200,000

Revaluation reserve

9,900

836

Profit and loss account

890,697

321,170

Total equity

 

1,110,599

532,006

For the financial year ending 31 July 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 5 March 2025 and signed on its behalf by:
 

Mr M Horsfield
Director

Mrs A Horsfield
Director

 
     
 

Horsfields (Church Farm) 1984 Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 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:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the Board on 5 March 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 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.

Deferred income 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.

 

Horsfields (Church Farm) 1984 Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 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

Motor vehicles

25% Straight Line

Plant and machinery

25% Reducing Balance

Office equipment

33% Straight Line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

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:

Asset class

Amortisation method and rate

Entitlements

Straight line over length of entitlement

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 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Horsfields (Church Farm) 1984 Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 August 2023

1,001

Disposals

(1,001)

At 31 July 2024

-

Amortisation

At 1 August 2023

1,001

Amortisation eliminated on disposals

(1,001)

At 31 July 2024

-

Carrying amount

At 31 July 2024

-

5

Tangible assets

Total
£

Cost or valuation

At 1 August 2023

622,008

Additions

8,737

Disposals

(235,524)

At 31 July 2024

395,221

Depreciation

At 1 August 2023

248,120

Charge for the year

40,073

Eliminated on disposal

(2,050)

At 31 July 2024

286,143

Carrying amount

At 31 July 2024

109,078

At 31 July 2023

373,888

 

Horsfields (Church Farm) 1984 Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

Fair value adjustments

9,064

9,064

Additions

120,000

120,000

At 31 July 2024

129,064

129,064

Carrying amount

At 31 July 2024

129,064

129,064

7

Creditors: amounts falling due after more than one year

Other borrowings

The carrying amount of Finance Lease Liabilities at year end is £6,833 (2023 - £13,667).

The finance lease liabilities are secured against the assets to which they relate.

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

9,064

9,064

 

Horsfields (Church Farm) 1984 Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

9

Related party transactions

Summary of transactions with other related parties

Horsfields (Church Farm) 1984 Ltd has provided funds to an associated company of £840,000 (2023: £Nil). No interest has been charged on the balance and the total amount is repayable on demand.

An associated company has provided funds to Horsfields (Church Farm) 1984 Ltd of £36,000 (2023: £Nil). No interest has been charged on the balance and the total amount is repayable on demand.

 

10

Parent and ultimate parent undertaking

The company's immediate parent is Horsfields Holdings Limited, incorporated in England & Wales.

  These financial statements are available upon request from Church Farm Church Lane, Woolley, Wakefield, United Kingdom, WF4 2JU.