Company registration number 04000037 (England and Wales)
ODDS FARM PARK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ODDS FARM PARK LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
ODDS FARM PARK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
2,272,386
2,480,557
Investments
6
50
50
2,272,436
2,480,607
Current assets
Stocks
117,023
117,653
Debtors
7
71,934
114,923
Cash at bank and in hand
177,553
326,556
366,510
559,132
Creditors: amounts falling due within one year
8
(946,425)
(999,873)
Net current liabilities
(579,915)
(440,741)
Total assets less current liabilities
1,692,521
2,039,866
Creditors: amounts falling due after more than one year
10
(567,188)
(788,774)
Provisions for liabilities
-
0
(8,915)
Net assets
1,125,333
1,242,177
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,125,233
1,242,077
Total equity
1,125,333
1,242,177
ODDS FARM PARK LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 April 2025 and are signed on its behalf by:
S Vinden
Director
Company registration number 04000037 (England and Wales)
ODDS FARM PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Odds Farm Park Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 Upper High Street, Thame, Oxfordshire, OX9 3EZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

1.3
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 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Property
between 0% and 10% straight line basis
Improvements to property
10% straight line basis
Plant and machinery
25% straight line basis
Equipment
25% straight line basis
Motor vehicles
25% straight line basis
1.4
Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Taxation
ODDS FARM PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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 reporting end date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at balance sheet date.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ODDS FARM PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
83
92
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024
78,805
Disposals
(78,805)
At 31 December 2024
-
0
Amortisation and impairment
At 1 January 2024
78,805
Disposals
(78,805)
At 31 December 2024
-
0
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
ODDS FARM PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
5
Tangible fixed assets
Property
Improvements to property
Plant and machinery
Equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2024
2,524,913
1,469,838
123,935
644,494
72,980
4,836,160
Additions
-
0
-
0
-
0
11,683
-
0
11,683
Disposals
-
0
-
0
(4,660)
-
0
-
0
(4,660)
At 31 December 2024
2,524,913
1,469,838
119,275
656,177
72,980
4,843,183
Depreciation and impairment
At 1 January 2024
368,526
1,239,017
118,340
568,399
61,321
2,355,603
Depreciation charged in the year
91,452
84,932
1,865
38,107
3,498
219,854
Eliminated in respect of disposals
-
0
-
0
(4,660)
-
0
-
0
(4,660)
At 31 December 2024
459,978
1,323,949
115,545
606,506
64,819
2,570,797
Carrying amount
At 31 December 2024
2,064,935
145,889
3,730
49,671
8,161
2,272,386
At 31 December 2023
2,156,387
230,822
5,596
76,093
11,659
2,480,557
ODDS FARM PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
50
50
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
22,713
18,303
Amounts owed by group undertakings
9,227
87,786
Other debtors
10,783
8,834
42,723
114,923
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
29,211
-
0
Total debtors
71,934
114,923
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
269,453
285,441
Obligations under finance leases
4,780
9,171
Other borrowings
9,781
8,464
Trade creditors
179,905
196,330
Taxation and social security
202,635
224,927
Other creditors
118,422
103,558
Accruals and deferred income
161,449
171,982
946,425
999,873
9
Secured debt

The bank loans and overdrafts are secured in full by a scheduled mortgage dated 23 April 2010, with respect to Odds Farm Mobile Home Estate, incorporating a fixed and floating charge over all current and future assets of the company, mortgages over a number of freehold properties and guarantee from the directors. Included within creditors is an amount of £330,113 (2023: £401,022) that has been secured.

ODDS FARM PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
10
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
567,188
783,994
Obligations under finance leases
-
0
4,780
567,188
788,774
ODDS FARM PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
11
Related party transactions

Included in 'Other borrowings' at the year end is an amount of £9,781 (2023: £8,464 ) which was owed to the directors, J and S Vinden. The loan is unsecured and interest free.

12
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
240,712
223,200
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