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REGISTERED NUMBER: 07313421 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

LOVE FIELDS GLASTONBURY LIMITED

LOVE FIELDS GLASTONBURY LIMITED (REGISTERED NUMBER: 07313421)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOVE FIELDS GLASTONBURY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: O R J Mathias





SECRETARY: O R J Mathias





REGISTERED OFFICE: Sannerville Chase
Exminster
Exeter
Devon
EX6 8AT





REGISTERED NUMBER: 07313421 (England and Wales)






LOVE FIELDS GLASTONBURY LIMITED (REGISTERED NUMBER: 07313421)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,074,981 980,297

CURRENT ASSETS
Debtors 5 3,449,615 1,166,416
Cash at bank 240,025 271,908
3,689,640 1,438,324
CREDITORS
Amounts falling due within one year 6 3,054,509 1,455,784
NET CURRENT ASSETS/(LIABILITIES) 635,131 (17,460 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,710,112

962,837

CREDITORS
Amounts falling due after more than one
year

7

(312,597

)

(413,955

)

PROVISIONS FOR LIABILITIES (213,415 ) (144,756 )
NET ASSETS 1,184,100 404,126

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,184,000 404,026
SHAREHOLDERS' FUNDS 1,184,100 404,126

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

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

The director acknowledges his 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.

LOVE FIELDS GLASTONBURY LIMITED (REGISTERED NUMBER: 07313421)

BALANCE SHEET - continued
30 SEPTEMBER 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 director and authorised for issue on 13 May 2025 and were signed by:





O R J Mathias - Director


LOVE FIELDS GLASTONBURY LIMITED (REGISTERED NUMBER: 07313421)

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

1. STATUTORY INFORMATION

Love Fields Glastonbury Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover varies as it is dependant on the cyclical nature of the events.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Integral fittings - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Freehold property is not depreciated since in the opinion of the director the amount would be immaterial owing to the residual value of the property. This is a departure from Financial Reporting Standard 102 1A (the requirement to depreciate an asset over its useful economic life).

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

LOVE FIELDS GLASTONBURY LIMITED (REGISTERED NUMBER: 07313421)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Freehold Integral Plant and
property fittings machinery
£    £    £   
COST
At 1 October 2023 186,646 73,688 1,632,358
Additions - - 366,178
At 30 September 2024 186,646 73,688 1,998,536
DEPRECIATION
At 1 October 2023 - 14,736 991,876
Charge for year - 7,368 244,571
At 30 September 2024 - 22,104 1,236,447
NET BOOK VALUE
At 30 September 2024 186,646 51,584 762,089
At 30 September 2023 186,646 58,952 640,482

LOVE FIELDS GLASTONBURY LIMITED (REGISTERED NUMBER: 07313421)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 28,358 274,167 1,666 2,196,883
Additions - - 470 366,648
At 30 September 2024 28,358 274,167 2,136 2,563,531
DEPRECIATION
At 1 October 2023 5,322 203,956 696 1,216,586
Charge for year 1,983 17,554 488 271,964
At 30 September 2024 7,305 221,510 1,184 1,488,550
NET BOOK VALUE
At 30 September 2024 21,053 52,657 952 1,074,981
At 30 September 2023 23,036 70,211 970 980,297

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2023 341,668 39,980 381,648
Additions 181,500 - 181,500
Transfer to ownership (32,850 ) - (32,850 )
At 30 September 2024 490,318 39,980 530,298
DEPRECIATION
At 1 October 2023 51,251 9,995 61,246
Charge for year 73,549 7,496 81,045
Transfer to ownership (4,928 ) - (4,928 )
At 30 September 2024 119,872 17,491 137,363
NET BOOK VALUE
At 30 September 2024 370,446 22,489 392,935
At 30 September 2023 290,417 29,985 320,402

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 1,150,519 704,404
Other debtors 2,299,096 462,012
3,449,615 1,166,416

LOVE FIELDS GLASTONBURY LIMITED (REGISTERED NUMBER: 07313421)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 100,000 100,000
Hire purchase contracts 128,441 104,543
Trade creditors 152,065 188,072
Taxation and social security 550,538 69,051
Other creditors 2,123,465 994,118
3,054,509 1,455,784

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 125,000 225,000
Hire purchase contracts 187,597 188,955
312,597 413,955

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 225,000 325,000

The bank loan and overdraft are secured by a fixed and floating charge over all the company's assets, created on 5 November 2020, and a legal mortgage over the company's freehold property, created on 5 November 2020.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
70 A ordinary shares £1 70 70
15 B ordinary shares £1 15 15
15 C ordinary shares £1 15 15
100 100

LOVE FIELDS GLASTONBURY LIMITED (REGISTERED NUMBER: 07313421)

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

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
O R J Mathias
Balance outstanding at start of year 190,372 (232,063 )
Amounts advanced 65,150 422,435
Amounts repaid (330,312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (74,790 ) 190,372

This loan is unsecured, repayable on demand and interest is charged at the approved rate.

11. RELATED PARTY DISCLOSURES

Included in other debtors is a loan to The Cow Hotel Limited, a company wholly owned by the director, of £2,213,656 (2023: £210,000). This loan is unsecured, repayable on demand and interest free.

Included in other creditors is a loan from a member of the director's family of £75,000 (2023: £nil). This loan is unsecured, repayable on demand and interest free.