19 19 Fallow Fields Lathe Barn Ltd 13582578 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of recreational vehicle parks, trailer parks and camping grounds. Digita Accounts Production Advanced 6.30.9574.0 true true 13582578 2023-10-01 2024-09-30 13582578 2024-09-30 13582578 core:CurrentFinancialInstruments 2024-09-30 13582578 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 13582578 core:PlantMachinery 2024-09-30 13582578 1 2024-09-30 13582578 bus:SmallEntities 2023-10-01 2024-09-30 13582578 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 13582578 bus:FilletedAccounts 2023-10-01 2024-09-30 13582578 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 13582578 bus:RegisteredOffice 2023-10-01 2024-09-30 13582578 bus:Director1 2023-10-01 2024-09-30 13582578 bus:Director3 2023-10-01 2024-09-30 13582578 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 13582578 core:PlantMachinery 2023-10-01 2024-09-30 13582578 countries:EnglandWales 2023-10-01 2024-09-30 13582578 1 2023-10-01 2024-09-30 13582578 2023-09-30 13582578 core:PlantMachinery 2023-09-30 13582578 1 2023-09-30 13582578 2023-01-01 2023-09-30 13582578 2023-09-30 13582578 core:CurrentFinancialInstruments 2023-09-30 13582578 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 13582578 core:PlantMachinery 2023-09-30 xbrli:pure iso4217:GBP

Registration number: 13582578

Fallow Fields Lathe Barn Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Fallow Fields Lathe Barn Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Fallow Fields Lathe Barn Ltd

(Registration number: 13582578)
Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

33,564

44,161

Current assets

 

Debtors

5

485

1,201

Cash at bank and in hand

 

54

54

 

539

1,255

Creditors: Amounts falling due within one year

6

(159,974)

(108,765)

Net current liabilities

 

(159,435)

(107,510)

Net liabilities

 

(125,871)

(63,349)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(125,971)

(63,449)

Shareholders' deficit

 

(125,871)

(63,349)

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 1 July 2025 and signed on its behalf by:
 


A J Cook
Director


D J Bradley
Director

 

Fallow Fields Lathe Barn Ltd

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 company meets its day to day working capital requirements through the support from the director and group companies which will continue for the foreseeable future. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

 

Fallow Fields Lathe Barn Ltd

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33.3% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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

 

Fallow Fields Lathe Barn Ltd

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

2

Accounting policies (continued)

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.

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.

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 19 (2023 - 19).

 

Fallow Fields Lathe Barn Ltd

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

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

68,965

68,965

Additions

7,176

7,176

Disposals

(990)

(990)

At 30 September 2024

75,151

75,151

Depreciation

At 1 October 2023

24,804

24,804

Charge for the year

16,783

16,783

At 30 September 2024

41,587

41,587

Carrying amount

At 30 September 2024

33,564

33,564

At 30 September 2023

44,161

44,161

5

Debtors

2024
£

2023
£

Trade debtors

-

948

Other debtors

133

253

Prepayments

352

-

485

1,201

 

Fallow Fields Lathe Barn Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

8,785

14,382

Trade creditors

 

11,052

3,581

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

117,082

87,248

Taxation and social security

 

5,628

1,011

Accruals and deferred income

 

16,973

2,416

Other creditors

 

454

127

 

159,974

108,765

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

4,684

6,901

Other borrowings

4,101

7,481

8,785

14,382

9

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

At 30 September 2024
£

Director

-

133

133