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REGISTERED NUMBER: 08607970 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

SQUIRES FARM DEVELOPMENTS LTD

SQUIRES FARM DEVELOPMENTS LTD (REGISTERED NUMBER: 08607970)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


SQUIRES FARM DEVELOPMENTS LTD (REGISTERED NUMBER: 08607970)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,986 9,491
Investment property 5 3,825,828 3,511,131
3,832,814 3,520,622

CURRENT ASSETS
Debtors 6 307,370 185,602
Cash at bank 62,468 47,763
369,838 233,365
CREDITORS
Amounts falling due within one year 7 551,478 463,802
NET CURRENT LIABILITIES (181,640 ) (230,437 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,651,174

3,290,185

CREDITORS
Amounts falling due after more than one
year

8

(57,825

)

(52,110

)

PROVISIONS FOR LIABILITIES 9 (319,681 ) (317,935 )
NET ASSETS 3,273,668 2,920,140

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 953,806 953,806
Retained earnings 2,319,859 1,966,331
3,273,668 2,920,140

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

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

The directors acknowledge their 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.

SQUIRES FARM DEVELOPMENTS LTD (REGISTERED NUMBER: 08607970)

BALANCE SHEET - continued
30 APRIL 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 Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





R A Marten - Director


SQUIRES FARM DEVELOPMENTS LTD (REGISTERED NUMBER: 08607970)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Squires Farm Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08607970

Registered office: 3rd Floor
21 Perrymount Road
Haywards Heath
RH16 3TP

The presentation currency of the financial statements is the Pound Sterling (£).


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
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recongised so as to write off the cost or valuation of assets less their residual value over their useful lives on the following bases:

Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

SQUIRES FARM DEVELOPMENTS LTD (REGISTERED NUMBER: 08607970)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Impairment of non-current assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment is recognised immediately in the profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the report end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that is is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Going concern
Having considered the company's projected performance and expected cashflows, the directors have concluded that the company will be able to meet its liabilities as they fall due and is a going concern. As a result, these financial statements are prepared on a going concern basis.

SQUIRES FARM DEVELOPMENTS LTD (REGISTERED NUMBER: 08607970)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. EMPLOYEES

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 May 2023 11,111 - 11,111
Additions - 273 273
At 30 April 2024 11,111 273 11,384
DEPRECIATION
At 1 May 2023 1,620 - 1,620
Charge for year 2,778 - 2,778
At 30 April 2024 4,398 - 4,398
NET BOOK VALUE
At 30 April 2024 6,713 273 6,986
At 30 April 2023 9,491 - 9,491

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 3,511,131
Additions 314,697
At 30 April 2024 3,825,828
NET BOOK VALUE
At 30 April 2024 3,825,828
At 30 April 2023 3,511,131

Investment property was valued on an open market basis on 30 April 2024 by the directors.

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2015 457,474
Valuation in 2016 112,186
Valuation in 2018 590,846
Valuation in 2022 111,235
Cost 2,554,087
3,825,828

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,227 62,554
Other debtors 239,143 123,048
307,370 185,602

I

SQUIRES FARM DEVELOPMENTS LTD (REGISTERED NUMBER: 08607970)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,947 30,947
Taxation and social security 206,638 118,995
Other creditors 313,893 313,860
551,478 463,802

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 57,825 52,110

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Other timing differences 317,935 317,935
Deferred tax 1,746 -
319,681 317,935

Deferred
tax
£   
Balance at 1 May 2023 317,935
Provided during year 1,746
Balance at 30 April 2024 319,681