Company No:
Contents
| DIRECTORS | R H Goring |
| P A Goring |
| SECRETARY | P A Goring |
| REGISTERED OFFICE | Wiston Estate Office |
| Wiston Park | |
| Steyning | |
| West Sussex | |
| BN44 3DD | |
| United Kingdom |
| COMPANY NUMBER | 00549173 (England and Wales) |
| ACCOUNTANT | S&W Partners (East) LLP |
| Stonecross | |
| Trumpington High Street | |
| Cambridge | |
| CB2 9SU |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 3 |
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| Tangible assets | 4 |
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| Investments | 5 |
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| 2,255,543 | 6,733,987 | |||
| Current assets | ||||
| Stocks | 6 |
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| Debtors | 7 |
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| Cash at bank and in hand |
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| 0 | 4,551,470 | |||
| Creditors: amounts falling due within one year | 8 | (
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| Net current (liabilities)/assets | (4,082) | 1,371,883 | ||
| Total assets less current liabilities | 2,251,461 | 8,105,870 | ||
| Creditors: amounts falling due after more than one year | 9 |
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Findon Park Farm Limited (registered number:
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R H Goring
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Findon Park Farm Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wiston Estate Office, Wiston Park, Steyning, West Sussex, BN44 3DD, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Findon Park Farm Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
The Company's investment in Wiston Estate Partnership includes the net book value of all assets transferred to the Partnership. The Company's share of the partnership's profit or loss is also recognised at each financial year end.
**Classification**
All financial instruments are classified as basic.
**Recognition and measurement**
The Company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Development costs | Other intangible assets | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 April 2023 |
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| Transfer to Partnership | (
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| At 31 March 2024 |
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| Accumulated amortisation | |||||
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| Transfer to Partnership | (
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| At 31 March 2024 |
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| Net book value | |||||
| At 31 March 2024 |
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| At 31 March 2023 |
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| Land and buildings | Assets under construc- tion |
Plant and machinery | Vehicles | Other property, plant and equipment |
Total | ||||||
| £ | £ | £ | £ | £ | £ | ||||||
| Cost | |||||||||||
| At 01 April 2023 |
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| At 31 March 2024 |
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| Net book value | |||||||||||
| At 31 March 2024 |
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| At 31 March 2023 |
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| Other investments | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 April 2023 |
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| Additions |
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| Transfer to Partnership | (
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| Partnership profit (loss) share | (4,708) | (4,708) | |
| At 31 March 2024 |
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| Carrying value at 31 March 2024 |
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| Carrying value at 31 March 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Stocks |
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| Work in progress |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans and overdrafts |
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| Trade creditors |
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| Taxation and social security |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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Included within disposal of fixed asset investments is 5% of the loss made in Wiston Estate, in which Findon Park Farm Limited is a partner.