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Registration number: 10030216

Fallow Fields Camping Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Fallow Fields Camping Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 8

 

Fallow Fields Camping Limited

(Registration number: 10030216)
Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,027,863

1,027,863

Investments

5

200

300

 

1,028,063

1,028,163

Current assets

 

Debtors

6

78,149

86,018

Cash at bank and in hand

 

118

25

 

78,267

86,043

Creditors: Amounts falling due within one year

7

(446,913)

(438,228)

Net current liabilities

 

(368,646)

(352,185)

Total assets less current liabilities

 

659,417

675,978

Creditors: Amounts falling due after more than one year

7

(587,970)

(592,459)

Net assets

 

71,447

83,519

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

71,446

83,518

Shareholders' funds

 

71,447

83,519

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 30 June 2025 and signed on its behalf by:
 


D J Bradley
Director

 

Fallow Fields Camping Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fallow Fields, Lathe Barn
Donkey Street
Burmarsh
Romney Marsh
Kent
TN29 0JN
England

Principal activity

The principal activity of the company is that of recreational vehicle parks, trailer parks and camping grounds.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Fallow Fields Camping Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Fallow Fields Camping Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Fallow Fields Camping Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Investment properties

2024
£

At 1 October

1,027,863

At 30 September

1,027,863

There has been no valuation of investment property by an independent valuer.

5

Investments

2024
£

2023
£

Investments in subsidiaries

200

300

Subsidiaries

£

Cost or valuation

At 1 October 2023

300

Disposals

(100)

At 30 September 2024

200

Provision

Carrying amount

At 30 September 2024

200

At 30 September 2023

300

 

Fallow Fields Camping Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

5

Investments (continued)

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

1,271

579

Amounts owed by related parties

11

76,878

85,439

 

78,149

86,018

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

121,122

153,272

Trade creditors

 

13,946

18,255

Taxation and social security

 

24,162

26,834

Accruals and deferred income

 

1,500

4,043

Other creditors

 

286,183

235,824

 

446,913

438,228

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

587,970

592,459

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Fallow Fields Camping Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

587,970

592,459

Current loans and borrowings

2024
£

2023
£

Bank borrowings

23,883

34,750

Bank overdrafts

97,000

99,402

Other borrowings

239

19,120

121,122

153,272

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

5,881

-

Later than one year and not later than five years

12,742

-

18,623

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £12,576 (2023 - £Nil).

11

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Director 1

(124,194)

3,185

(4,230)

(125,240)

Director 2

(109,250)

6,596

(9,850)

(112,504)

 

(233,444)

9,781

(14,080)

(237,744)

       

 

 

Fallow Fields Camping Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

11

Related party transactions (continued)

2023

At 1 January 2023
£

Advances to director
£

At 30 September 2023
£

Director 1

(124,416)

222

(124,194)

Director 2

(109,250)

-

(109,250)

(233,666)

222

(233,444)