SKY PARK FARM LTD

Company Registration Number:
12568168 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

SKY PARK FARM LTD

Contents of the Financial Statements

for the Period Ended 30 April 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 10

SKY PARK FARM LTD

Company Information

for the Period Ended 30 April 2024




Registered office: Sky Park Farm
Durford Lane
West Harting
Hampshire
England
GU31 5PT
Company Registration Number: 12568168 (England and Wales)

SKY PARK FARM LTD

Balance sheet

As at 30 April 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 1,931,401 953,633
Tangible assets: 5 2,093,133 1,519,166
Total fixed assets: 4,024,534 2,472,799
Current assets
Stocks: 262,953 522,231
Debtors: 71,770 116,556
Cash at bank and in hand: 67,570 16,450
Total current assets: 402,293 655,237
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: ( 276,576 ) ( 278,281 )
Net current assets (liabilities): 125,717 376,956
Total assets less current liabilities: 4,150,251 2,849,755
Creditors: amounts falling due after more than one year: 6 ( 4,669,982 ) ( 2,433,606 )
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): ( 519,731 ) 416,149

The notes form part of these financial statements

SKY PARK FARM LTD

Balance sheet continued

As at 30 April 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 2,000,000 2,000,000
Profit and loss account: ( 2,519,731 ) ( 1,583,851 )
Shareholders funds: ( 519,731 ) 416,149

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 10 April 2025
And Signed On Behalf Of The Board By:

Name: Mr. P Noonan
Status: Director

The notes form part of these financial statements

SKY PARK FARM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover
    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair
    value of consideration takes into account trade discounts, settlement discounts and volume rebates.

    When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

    Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
    An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in
    equity in respect of that asset, the excess shall be recognised in profit or loss.

    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:
    Freehold land and buildings 1% straight line, Plant and equipment 25% straight line, Fixtures and fittings 25% straight line, Motor vehicles 25% straight line,Equipment 25% straight line, Fencing, drainage & landscaping 10% straight line.

    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 profit or loss.

SKY PARK FARM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies (continued)

    Intangible fixed assets amortisation policy

    Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

    Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the
    asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

    Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

    Development costs 2% straight line

SKY PARK FARM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 49 32

SKY PARK FARM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 3. Off balance sheet disclosure

    No

SKY PARK FARM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 4. Intangible assets

    Total
    Cost £
    At 01 May 2023 1,113,552
    Additions 882,112
    Disposals (0)
    Revaluations 0
    Transfers 0
    At 30 April 2024 1,995,664
    Amortisation
    Amortisation at 01 May 2023 159,919
    Charge for year 120,058
    On disposals -
    Other adjustments (215,714)
    Amortisation at 30 April 2024 64,263
    Net book value
    Net book value at 30 April 2024 1,931,401
    Net book value at 30 April 2023 953,633

SKY PARK FARM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Tangible Assets

Total
Cost £
At 01 May 2023 1,817,765
Additions 801,589
Disposals (10,130)
Revaluations 0
Transfers 0
At 30 April 2024 2,609,224
Depreciation
At 01 May 2023 298,599
Charge for year 225,091
On disposals (7,599)
Other adjustments 0
At 30 April 2024 516,091
Net book value
At 30 April 2024 2,093,133
At 30 April 2023 1,519,166

SKY PARK FARM LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Creditors: amounts falling due after more than one year note

The Agricultural Mortgage Corporation PLC hold a charge over Land forming part of Manor
Farm, West Harting, Petersfield, Hampshire.

The mortgage is repayable at £5,660 per quarter including interest of 3.36% and is repayable by 1 June 2040.

Creditors which fall due after five years are as follows:
Payable by instalments 2024 £195,628 2023 £211,362