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Registered number: 02520795
















WEST BUCKLAND ACTIVITIES LIMITED
(A COMPANY LIMITED BY GUARANTEE)


FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024
































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WEST BUCKLAND ACTIVITIES LIMITED
 
(A COMPANY LIMITED BY GUARANTEE)
REGISTERED NUMBER:02520795

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 5 
-
2,372

Debtors: amounts falling due within one year
 6 
72,506
56,378

Cash at bank and in hand
 7 
88,533
237,900

  
161,039
296,650

Creditors: amounts falling due within one year
 8 
(87,920)
(259,237)

Net current assets
  
 
 
73,119
 
 
37,413

  

Net assets
  
73,119
37,413


Capital and reserves
  

Profit and loss account
  
73,119
37,413


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by: 





Mrs C Candlish
Director

Date: 10 April 2025

The notes on pages 2 to 8 form part of these financial statements.

Page 1


WEST BUCKLAND ACTIVITIES LIMITED

(A COMPANY LIMITED BY GUARANTEE)

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


GENERAL INFORMATION

West Buckland Activities Limited is a company limited by guarantee, incorporated in England and Wales. The registered office is West Buckland School, West Buckland, Barnstaple, EX32 0SX.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

GOING CONCERN

The trading and letting activities of West Buckland Activities Limited are very dependent upon West Buckland School. The Governors of the School have a reasonable expectation that the School has adequate resources to continue in operational existence for the foreseeable future. The School therefore continues to adopt the going concern basis in preparing its financial statements, and so West Buckland Activities does not face an immediate threat regarding this.
As a result, the Director of this company continues to adopt the going concern basis in preparing its financial statements.

 
2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2


WEST BUCKLAND ACTIVITIES LIMITED

(A COMPANY LIMITED BY GUARANTEE)

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (continued)

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3


WEST BUCKLAND ACTIVITIES LIMITED

(A COMPANY LIMITED BY GUARANTEE)

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (continued)

 
2.10

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.12

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.14

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2023: 3).

Page 4


WEST BUCKLAND ACTIVITIES LIMITED

(A COMPANY LIMITED BY GUARANTEE)

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


TANGIBLE FIXED ASSETS





Plant and machinery

£



COST


At 1 August 2023
4,230



At 31 July 2024

4,230



DEPRECIATION


At 1 August 2023
4,230



At 31 July 2024

4,230



NET BOOK VALUE



At 31 July 2024
-



At 31 July 2023
-

Page 5


WEST BUCKLAND ACTIVITIES LIMITED

(A COMPANY LIMITED BY GUARANTEE)

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


STOCKS

2024
2023
£
£

Raw materials and consumables
-
2,372


6.


DEBTORS

2024
2023
£
£


Trade debtors
64,195
49,845

Other debtors
8,311
-

Prepayments and accrued income
-
6,533

72,506
56,378



7.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
88,533
237,900

Less: bank overdrafts
-
(1)



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank overdrafts
-
1

Amounts owed to group undertakings
80,440
253,155

Other taxation and social security
-
2,681

Accruals and deferred income
7,480
3,400

87,920
259,237


Page 6


WEST BUCKLAND ACTIVITIES LIMITED

(A COMPANY LIMITED BY GUARANTEE)

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

Page 7


WEST BUCKLAND ACTIVITIES LIMITED

(A COMPANY LIMITED BY GUARANTEE)

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


COMPANY STATUS

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.


10.


RELATED PARTY TRANSACTIONS

The company has taken advantage of exemptions under FRS102 1AC.35 to not disclose transactions with its parent, West Buckland School.


11.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 11 April 2025 by Mark Munro FCA (Senior Statutory Auditor) on behalf of Bishop Fleming LLP.

 
Page 8