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COMPANY REGISTRATION NUMBER: 07365461
Highclere Castle Horse Feeds Limited
Filleted Unaudited Financial Statements
For the year ended
31 July 2024
Highclere Castle Horse Feeds Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
435,315
453,731
Current assets
Stocks
293,242
285,984
Debtors
7
122,101
166,089
Cash at bank and in hand
392,976
486,530
---------
---------
808,319
938,603
Creditors: amounts falling due within one year
8
122,895
293,937
---------
---------
Net current assets
685,424
644,666
------------
------------
Total assets less current liabilities
1,120,739
1,098,397
Creditors: amounts falling due after more than one year
9
249,405
243,137
Provisions
Taxation including deferred tax
75,270
62,502
------------
------------
Net assets
796,064
792,758
------------
------------
Capital and reserves
Called up share capital
200
200
Profit and loss account
795,864
792,558
---------
---------
Shareholders funds
796,064
792,758
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Highclere Castle Horse Feeds Limited
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 3 April 2025 , and are signed on behalf of the board by:
The 8th Earl of Carnarvon (Lord Carnarvon)
Director
Company registration number: 07365461
Highclere Castle Horse Feeds Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Estate Office Highclere Park, Highclere, Newbury, Berkshire, RG20 9RN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable for goods supplied and services rendered, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
8% reducing balance
Plant and machinery
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
200,000
---------
Amortisation
At 1 August 2023 and 31 July 2024
200,000
---------
Carrying amount
At 31 July 2024
---------
At 31 July 2023
---------
6. Tangible assets
Short leasehold property
Plant and machinery
Total
£
£
£
Cost
At 1 August 2023
87,571
677,588
765,159
Additions
87,165
87,165
--------
---------
---------
At 31 July 2024
87,571
764,753
852,324
--------
---------
---------
Depreciation
At 1 August 2023
24,520
286,908
311,428
Charge for the year
6,305
99,276
105,581
--------
---------
---------
At 31 July 2024
30,825
386,184
417,009
--------
---------
---------
Carrying amount
At 31 July 2024
56,746
378,569
435,315
--------
---------
---------
At 31 July 2023
63,051
390,680
453,731
--------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
106,212
134,982
Other debtors
15,889
31,107
---------
---------
122,101
166,089
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
61,189
245,582
Other creditors
61,706
48,355
---------
---------
122,895
293,937
---------
---------
Included within the liabilities disclosed above under other creditors is an amount of £56,249 (2023: £43,865) for which security over the assets to which the liability relates has been given.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
249,405
243,137
---------
---------
Included within the liabilities disclosed above under other creditors is an amount of £249,405 (2023: 243,137) for which security over the assets to which the liability relates has been given.
10. Other financial commitments
The total commitments, contingencies and guarantees at the year end was £ 1,000 .