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REGISTERED NUMBER: 03935578 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

Foal Park Limited

Foal Park Limited (Registered number: 03935578)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Foal Park Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: C J Smith MBE





REGISTERED OFFICE: 1 The Orchard
Old Cassop
Durham
Co. Durham
DH6 4RS





REGISTERED NUMBER: 03935578 (England and Wales)





ACCOUNTANTS: Tax Resolved Limited
1 The Orchard
Old Cassop
Durham
DH6 4RS

Foal Park Limited (Registered number: 03935578)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,085,379 1,099,846

CURRENT ASSETS
Debtors 5 - 10,000
Cash at bank 37,276 1,058
37,276 11,058
CREDITORS
Amounts falling due within one year 6 38,936 23,055
NET CURRENT LIABILITIES (1,660 ) (11,997 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,083,719

1,087,849

CREDITORS
Amounts falling due after more than
one year

7

334,785

323,424
NET ASSETS 748,934 764,425

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 747,025 747,025
Retained earnings 1,809 17,300
SHAREHOLDERS' FUNDS 748,934 764,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Foal Park Limited (Registered number: 03935578)

Balance Sheet - continued
30 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 7 March 2025 and were signed by:





C J Smith MBE - Director


Foal Park Limited (Registered number: 03935578)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Foal Park Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 15% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Foal Park Limited (Registered number: 03935578)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 1,100,000 130 16,436 1,116,566
DEPRECIATION
At 1 July 2023 12,000 124 4,596 16,720
Charge for year 12,000 2 2,465 14,467
At 30 June 2024 24,000 126 7,061 31,187
NET BOOK VALUE
At 30 June 2024 1,076,000 4 9,375 1,085,379
At 30 June 2023 1,088,000 6 11,840 1,099,846

Cost or valuation at 30 June 2024 is represented by:

Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Valuation in 2015 135,134 - - 135,134
Valuation in 2022 500,000 - - 500,000
Cost 464,866 130 16,436 481,432
1,100,000 130 16,436 1,116,566

If Freehold property had not been revalued it would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 464,866 464,866
Aggregate depreciation 83,675 74,378

Freehold property was valued on an open market basis on 30 June 2022 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 10,000

Foal Park Limited (Registered number: 03935578)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Tax 3,103 6,452
Directors' current accounts 25,000 5,699
Accrued expenses 10,833 10,904
38,936 23,055

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 285,600 157,947
Directors' loan accounts 49,185 165,477
334,785 323,424

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 285,600 157,947

8. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 747,025