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REGISTERED NUMBER: 10722841 (England and Wales)













Unaudited Financial Statements

for the Period 1 May 2023 to 31 March 2024

for

South Ormsby Park Limited

South Ormsby Park Limited (Registered number: 10722841)






Contents of the Financial Statements
for the Period 1 May 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


South Ormsby Park Limited

Company Information
for the Period 1 May 2023 to 31 March 2024







DIRECTOR: J B Thornes





REGISTERED OFFICE: South Ormsby Hall
South Ormsby
Louth
Lincolnshire
LN11 8QS





REGISTERED NUMBER: 10722841 (England and Wales)





ACCOUNTANTS: Tindle's LLP
Chartered Accountants and Business Advisers
Medway House
Fudan Way
Teesdale Business Park
Stockton on Tees
TS17 6EN

South Ormsby Park Limited (Registered number: 10722841)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,122 81,665

CURRENT ASSETS
Stocks 5 562,083 708,389
Debtors 6 30,200 18,565
Cash at bank and in hand 15,194 79,541
607,477 806,495
CREDITORS
Amounts falling due within one year 7 264,659 161,946
NET CURRENT ASSETS 342,818 644,549
TOTAL ASSETS LESS CURRENT
LIABILITIES

407,940

726,214

CREDITORS
Amounts falling due after more than one
year

8

2,110,161

1,957,613
NET LIABILITIES (1,702,221 ) (1,231,399 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,702,321 ) (1,231,499 )
(1,702,221 ) (1,231,399 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

South Ormsby Park Limited (Registered number: 10722841)

Balance Sheet - continued
31 March 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 by the director and authorised for issue on 24 March 2025 and were signed by:





J B Thornes - Director


South Ormsby Park Limited (Registered number: 10722841)

Notes to the Financial Statements
for the Period 1 May 2023 to 31 March 2024

1. STATUTORY INFORMATION

South Ormsby 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.

GOING CONCERN
It is considered appropriate to prepare the financial statements on a going concern basis due to the continued support from the director. In assessing going concern, the director has considered a period of 12 months from the date of approval of these financial statements

CHANGE IN REPORTING PERIOD
The company has shortened its reporting period to end on 31 March 2024 to align with the financial year end of related companies. Comparative figures for the year ended 30 April 2023 are not entirely comparable with figures for the period ended 31 March 2024.

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 the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

IMPAIRMENT
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

STOCKS
Stocks, excluding biological assets, are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BIOLOGICAL ASSETS
The company recognises biological assets when, and only when, the company controls the assets as a result of past events, it is probable that future economic benefits associated with such assets will flow to the company and the fair value or cost of the assets can be measured reliably. Expenditure incurred on biological assets are measured on initial recognition and at the end of each reporting period at its fair value less costs to sell in accordance with FRS 102. The gain or loss arising on initial recognition of such biological assets at fair value less costs to sell and from a change in fair value less costs to sell of biological assets are included in the Income Statement for the period in which it arises.

The Director determines the fair value of the company's biological assets with reference to quoted prices in an active market, based on the asset's location and condition.


South Ormsby Park Limited (Registered number: 10722841)

Notes to the Financial Statements - continued
for the Period 1 May 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the period 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 period 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to the profit or loss account on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

SHARE CAPITAL
Called up share capital is allotted, issued and fully paid.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

South Ormsby Park Limited (Registered number: 10722841)

Notes to the Financial Statements - continued
for the Period 1 May 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 81,366 188,456 5,250 6,500 281,572
Additions - 5,090 - - 5,090
At 31 March 2024 81,366 193,546 5,250 6,500 286,662
DEPRECIATION
At 1 May 2023 34,208 158,261 938 6,500 199,907
Charge for period 7,458 13,142 1,033 - 21,633
At 31 March 2024 41,666 171,403 1,971 6,500 221,540
NET BOOK VALUE
At 31 March 2024 39,700 22,143 3,279 - 65,122
At 30 April 2023 47,158 30,195 4,312 - 81,665

5. STOCKS
2024 2023
£    £   
Stocks 15,329 26,287
Biological assets 546,754 682,102
562,083 708,389

All of the company's Biological assets consist of cattle.

A reconciliation of the carrying amounts of Biological assets is as follows:
£

Balance at 1 May 2023682,102

Purchases
Sales(269,196)
Gains arising from changes in fair value less costs to sell133,848
Balance at 31 March 2024546,754


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 30,200 18,565

South Ormsby Park Limited (Registered number: 10722841)

Notes to the Financial Statements - continued
for the Period 1 May 2023 to 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 51,331 14,335
Other creditors 213,328 147,611
264,659 161,946

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 2,110,161 1,957,613

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 4,077 4,867
Between one and five years - 4,077
4,077 8,944

Non-cancellable operating leases relate to various items of plant and machinery.

10. RELATED PARTY DISCLOSURES

The directors consider that there are no transactions that require disclosure pursuant to paragraph 1AC.35 of FRS 102 for the period ended 31 March 2024 or year ended 30 April 2023.