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Registration number: 12884487

WithinR Holdings Limited

Annual Report and Consolidated Financial Statements

for the Year Ended 30 November 2024

Brebners
Chartered Accountants & Statutory Auditor
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

WithinR Holdings Limited

Contents

Company Information

1

Strategic Report

2 to 3

Directors' Report

4

Statement of Directors' Responsibilities

5

Independent Auditor's Report

6 to 8

Consolidated Statement of Income and Retained Earnings

9

Consolidated Statement of Financial Position

10

Statement of Financial Position

11

Consolidated Statement of Changes in Equity

12

Consolidated Statement of Cash Flows

13

Notes to the Financial Statements

14 to 26

 

WithinR Holdings Limited

Company Information

Directors

Mrs J M Flaherty

Mr P D Flaherty

Registered office

1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

Auditor

Brebners
Chartered Accountants & Statutory Auditor
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

WithinR Holdings Limited

Strategic Report for the Year Ended 30 November 2024

The directors present their strategic report for the year ended 30 November 2024.

Fair review of the business

WithinR Holdings Limited is the holding company of two wholly owned subsidiaries, Godstone Farm Limited and Borderton Limited.

At Godstone Farm visitors can enjoy viewing approximately 500 animals and experience both indoor and outdoor play areas, alongside regular seasonal events. The operation consists of a primary revenue stream through entrance tickets and secondary revenues from food & beverage, retail and specific event sales. Godstone Farm Limited turnover for the year ended 30 November 2024 amounted to £3.73m, this follows ongoing investment following the business’ growth strategy.

In June 2023 Godstone Farm opened Surrey’s largest indoor play centre together with a new shop & entrance and a new animal barn. We saw the ongoing impact on visitor numbers of this new attraction through the first half of 2024 but saw softer year on year performance in the second half of the year. However seasonal events such as Camping, Fireworks and Christmas pre-sales were all strong and delivered increased profit year on year.

The Directors are pleased to note the overall turnover of the group has increased from £3.3m to £3.8m (15%) year on year and the forecasts indicate that the business will continue to see steady growth. The Directors are happy to report that due to careful cost control and operational efficiencies the EBITDA conversion of the business for the 2024 trading year was 35% an increase of 3% on the previous year, and which is higher than many other businesses in the industry. {Information from National Farm Attractions Network}.

The Directors are very satisfied with the performance of the group and look ahead positively to continued growth through fine tuning the commercial appeal of Godstone Farm. The Directors monitor key non financial performance indicators and were delighted to see year end customer satisfaction scores sitting over 8 /10 which is a strong performance within the context of the industry.

Financial KPIs

The group's key financial and other performance indicators during the year were as follows:

 

Unit

2024

2023

Turnover

£000's

3,749

3,277

Gross Profit Margin

%

59

62

Net Profit Before Tax

£000's

863

957

Net Profit Margin

%

23

29

 

WithinR Holdings Limited

Strategic Report for the Year Ended 30 November 2024

Principal risks and uncertainties

The management of the business and the execution of the group’s strategy are subject to a number of risks.

The key business risks and uncertainties affecting the group are considered to relate to the current cost of living pressures, rising competition in the local area and potential outbreaks of zoonotic diseases.

The group’s principal financial instruments comprise bank balances and trade creditors. The main purpose of these instruments is to finance the group's operations and, together with the retention of profits, to provide the necessary funding for growth.

Trade creditors liquidity risk is managed by ensuring that sufficient funds are available to meet amounts due.

Operational risk

Operational risk is caused by failures in business processes or the systems or physical infrastructure that support them that have the potential to result in financial loss or reputation damage. This includes errors, omissions, systems failure, lack of resources or physical assets and deliberate acts such as fraud.

The directors impose continuing self assessment and appraisals along with continually seeking to improve its operating efficiencies and standards. The directors endeavour to limit cost increases wherever possible and actively negotiate best terms with their major suppliers. The group governs its own price risk based on the directors' expectations for the group.

Credit risk

Credit risk is the risk that counter-parties will not be able to meet their obligations as they fall due. The group closely monitors outstanding debts from all sources resulting in minimal exposure.

Market risk

Although the directors are aware that the business may have some exposure to the current climate, the directors feel their reputation and position in the South East ensures it is not exposed to significant market risk.

Foreign currency risk

As the group operates in the Uk with minimal purchases overseas it is not exposed to foreign currency risk.

Future developments

The business continues to invest in repairs and maintenance across the farm attraction to ensure it can stay ahead of competition. The business also continues to cement its “breadth of offer messaging” through marketing campaigns, this showcases its wide variety of activities both indoor and outdoors with the intention of driving future increases in footfall during shoulder periods such as winter months and term time periods.

Approved by the Board on 25 July 2025 and signed on its behalf by:

.........................................
Mrs J M Flaherty
Director

 

WithinR Holdings Limited

Directors' Report for the Year Ended 30 November 2024

The directors present their report and the for the year ended 30 November 2024.

Directors of the group

The directors who held office during the year were as follows:

Mrs J M Flaherty

Mr P D Flaherty

Dividends

No dividends were paid in the year (2023 : £Nil). No final dividend is proposed.

Information included in the Strategic Report

The company has chosen in accordance with section 414C(11) Companies Act 2006 to set out in the company's strategic report information required by Schedule 7 of the large and medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of financial risk management, exposure and future developments.

Directors' liabilities

The company has purchased Directors’ and Officers’ liability Insurance for Directors and Officers as permitted by section 233 of the Companies Act 2006.

Disclosure of information to the auditor

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Approved by the Board on 25 July 2025 and signed on its behalf by:

.........................................
Mrs J M Flaherty
Director

 

WithinR Holdings Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

WithinR Holdings Limited

Independent Auditor's Report to the Members of
WithinR Holdings Limited

Opinion

We have audited the financial statements of WithinR Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2024, which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Statement of Financial Position, Statement of Financial Position, Consolidated Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the group's and the company's affairs as at 30 November 2024 and of the group's profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

Arising solely from the limitation of scope of our work relating to inventory referred to above:

 

WithinR Holdings Limited

Independent Auditor's Report to the Members of
WithinR Holdings Limited

we have not obtained all the information and explanations that we consider necessary for the purposes of our audit, and

we were unable to determine whether adequate accounting records have been kept.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

returns adequate for our audit have not been received from branches not visited by us; or

the parent company financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 5], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

WithinR Holdings Limited

Independent Auditor's Report to the Members of
WithinR Holdings Limited

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Group and the industry in which it operates, we determined that the principal risks of non-compliance with laws and regulations related to the reporting framework (FRS 102 and the Companies Act 2006) and UK corporate taxation laws, environmental legislation, health and safety legislation, anti-bribery legislation, data protection legislation and agricultural legislation. These risks were communicated to our audit team and we remained alert to any indications of non-compliance throughout our audit.

We understood how the Group is complying with relevant legislation by making enquiries of management and those responsible for legal and compliance procedures. We also considered the results of our audit procedures and to what extent these corroborate this understanding and assessed the susceptibility of the company’s financial statements to material misstatement. This included consideration of how fraud might occur and evaluation of management’s incentives and opportunities for fraudulent manipulation of the financial statements.

We designed our audit procedures to identify any non-compliance with laws and regulations. Such procedures included, but were not limited to, inspection of any regulatory or legal correspondence; challenging assumptions and judgements made by management; identifying and testing journal entries with a focus on large or unusual transactions as determined based on our understanding of the business; and identifying and assessing the effectiveness of controls in place to prevent and detect fraud.

Owing to the inherent limitations of an audit, there remains a risk that a material misstatement may not have been detected, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance with laws and regulations and cannot be expected to detect all instances of non-compliance.

The primary responsibility for the detection and prevention of fraud rests with those responsible for governance and management. The further removed non-compliance with laws and regulations is from the events reflected in the financial statements, the less likely the auditor will become aware of it.

The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission, misrepresentation or forgery.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Martin Widdowson (Senior Statutory Auditor)
For and on behalf of
Brebners, Statutory Auditor
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

25 July 2025

 

WithinR Holdings Limited

Consolidated Statement of Income and Retained Earnings for the Year Ended 30 November 2024

Note

2024
£

2023
£

Turnover

3

3,748,875

3,277,331

Cost of sales

 

(1,521,771)

(1,242,747)

Gross profit

 

2,227,104

2,034,584

Administrative expenses

 

(1,504,347)

(1,212,052)

Operating profit

4

722,757

822,532

Other interest receivable and similar income

5

7,385

6,688

Interest payable and similar charges

6

-

20

 

7,385

6,708

Share of profit of equity accounted investees

 

133,125

128,027

Profit before tax

 

863,267

957,267

Taxation

9

(152,629)

(216,049)

Profit for the financial year

 

710,638

741,218

Profit/(loss) attributable to:

 

Owners of the company

 

710,638

741,218

Retained earnings brought forward

 

5,722,530

4,981,312

Retained earnings carried forward

 

6,433,168

5,722,530

 

WithinR Holdings Limited

Consolidated Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

10

8,559,978

8,323,037

Investment property

11

700,000

700,000

Investments

12

31,202

28,077

 

9,291,180

9,051,114

Current assets

 

Stocks

13

116,560

103,261

Debtors

14

142,088

195,089

Cash at bank and in hand

 

1,198,454

572,797

 

1,457,102

871,147

Creditors: Amounts falling due within one year

16

(945,857)

(812,376)

Net current assets

 

511,245

58,771

Total assets less current liabilities

 

9,802,425

9,109,885

Provisions for liabilities

17

(869,155)

(887,253)

Net assets

 

8,933,270

8,222,632

Capital and reserves

 

Called up share capital

19

2,500,000

2,500,000

Capital redemption reserve

50

50

Other reserves

52

52

Retained earnings

6,433,168

5,722,530

Equity attributable to owners of the company

 

8,933,270

8,222,632

Shareholders' funds

 

8,933,270

8,222,632

Approved and authorised by the Board on 25 July 2025 and signed on its behalf by:
 

.........................................

Mrs J M Flaherty
Director

Company registration number: 12884487

 

WithinR Holdings Limited

Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

12

148

148

Current assets

 

Debtors

14

2,729,900

2,599,900

Cash at bank and in hand

 

2

2

 

2,729,902

2,599,902

Creditors: Amounts falling due within one year

16

(50)

(50)

Net current assets

 

2,729,852

2,599,852

Net assets

 

2,730,000

2,600,000

Capital and reserves

 

Called up share capital

19

2,500,000

2,500,000

Retained earnings

230,000

100,000

Shareholders' funds

 

2,730,000

2,600,000

The company made a profit after tax for the financial year of £130,000 (2023 - £100,00).

Approved and authorised by the Board on 25 July 2025 and signed on its behalf by:
 

.........................................
Mrs J M Flaherty
Director

Company registration number: 12884487

 

WithinR Holdings Limited

Consolidated Statement of Changes in Equity for the Year Ended 30 November 2024
Equity attributable to the parent company

Share capital
£

Capital redemption reserve
£

Other reserves
£

Retained earnings
£

Total
£

Total equity
£

At 1 December 2023

2,500,000

50

52

5,722,530

8,222,632

8,222,632

Profit for the year

-

-

-

710,638

710,638

710,638

At 30 November 2024

2,500,000

50

52

6,433,168

8,933,270

8,933,270

Share capital
£

Capital redemption reserve
£

Other reserves
£

Retained earnings
£

Total
£

Total equity
£

At 1 December 2022

100

50

52

4,981,312

4,981,514

4,981,514

Profit for the year

-

-

-

741,218

741,218

741,218

New share capital subscribed

2,499,900

-

-

-

2,499,900

2,499,900

At 30 November 2023

2,500,000

50

52

5,722,530

8,222,632

8,222,632

 

WithinR Holdings Limited

Consolidated Statement of Cash Flows for the Year Ended 30 November 2024

Note

2024
£

2023
£

Cash flows from operating activities

Profit for the year

 

710,638

741,218

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

4

260,767

165,607

Finance income

(7,385)

(6,688)

Finance costs

-

(20)

Share of profit/loss of equity accounted investees

 

(133,125)

(164,783)

Income tax expense

9

152,629

216,049

 

983,524

951,383

Working capital adjustments

 

Increase in stocks

 

(13,299)

(24,393)

Increase in trade and other debtors

 

(62,662)

(2,409,931)

Increase in trade and other creditors

 

214,288

1,845,126

Cash generated from operations

 

1,121,851

362,185

Income taxes paid

 

(5,871)

(73,273)

Net cash flow from operating activities

 

1,115,980

288,912

Cash flows from investing activities

 

Interest received

7,385

6,688

Acquisitions of tangible assets

(497,708)

(2,944,386)

Net cash flows from investing activities

 

(490,323)

(2,937,698)

Cash flows from financing activities

 

Interest paid

-

20

Proceeds from issue of ordinary shares, net of issue costs

 

-

2,499,900

Net cash flows from financing activities

 

-

2,499,920

Net increase/(decrease) in cash and cash equivalents

 

625,657

(148,866)

Cash and cash equivalents at 1 December

 

572,797

721,663

Cash and cash equivalents at 30 November

 

1,198,454

572,797

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 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:
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the group is that of the operation of a children's farm attraction.

2

Accounting policies

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

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.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 30 November each year.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the Income Statement from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

Going concern

The group made a profit for the year ended 30 November 2024 and had net assets at that date amounting to £8,933,270 including cash at bank of £1,198,454.

The directors have forecast that attractions owned by the group will continue to remain in operation over the next twelve months and do not foresee any events that could cause disruption to operations and reduced footfall. Should there be any interruption to normal course of trading the directors have plans in place to remain in operation.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Judgements and estimates

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. Key assumptions and other estimation uncertainties provide a risk of causing a material adjustment to the carrying values of assets and liabilities.

Judgements and estimates that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Tangible fixed assets are depreciated to their estimated residual values over their estimated useful lives. The company exercises judgement to determine these useful lives and residual values.

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 group's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The group recognises turnover from entrance fees on the date of admission and from shop and catering sales at the point of sale.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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 group operates and generates taxable income.

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 equipment

25% reducing balance

Furniture, fittings & equipment

20% straight line

Freehold buildings

2% straight line

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

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 on hand and call deposits, 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.

The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group 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.

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

3

Turnover

The analysis of the group's turnover for the year from continuing operations is as follows:

2024
£

2023
£

Ticket and retail outlet sales

3,712,237

3,231,055

Livestock sales

16,574

9,276

Rental income from investment properties

20,064

37,000

3,748,875

3,277,331

4

Operating profit

Arrived at after charging/(crediting):

2024
£

2023
£

Depreciation expense

260,767

165,607

5

Other interest receivable and similar income

2024
£

2023
£

Interest income on bank deposits

7,385

6,688

6

Interest payable and similar expenses

2024
£

2023
£

Interest expense on other finance liabilities

-

(20)

7

Staff costs

The aggregate payroll costs were as follows:

2024
£

2023
£

Wages and salaries

1,268,143

1,038,539

Social security costs

93,169

60,778

Pension costs, defined contribution scheme

16,481

12,496

1,377,793

1,111,813

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

The average number of persons employed by the group during the year, analysed by category, was as follows:

2024
No.

2023
No.

Management

9

9

Retail and catering

46

37

Clerical

2

2

Operations

94

85

151

133

8

Auditor's remuneration

2024
£

2023
£

Audit of these financial statements

1,625

1,000

Audit of the financial statements of subsidiaries of the company

15,500

15,500

17,125

16,500

Other fees to auditors

Taxation compliance services

2,500

2,500


 

9

Taxation

Tax charged/(credited) in the consolidated income statement

2024
£

2023
£

Current taxation

UK corporation tax

55,078

5,885

UK corporation tax adjustment to prior periods

(14)

-

55,064

5,885

Deferred taxation

Arising from origination and reversal of timing differences

97,565

210,164

Tax expense in the income statement

152,629

216,049

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of 22% (2023 - 23.85%).

The differences are reconciled below:

2024
£

2023
£

Profit before tax

863,267

957,267

Corporation tax at standard rate

189,919

228,308

Decrease in UK and foreign current tax from adjustment for prior periods

(14)

-

Tax (decrease)/increase from effect of capital allowances and depreciation

(110,373)

19,421

Tax increase/(decrease) from effect of marginal rate relief

-

(1,146)

Effect of revenues exempt from taxation

(29,288)

(30,534)

Effect of expense not deductible in determining taxable profit (tax loss)

602

-

Effect of tax losses

101,783

-

Total tax charge

152,629

216,049

Deferred tax

Group

Deferred tax assets and liabilities

2024

Asset
£

Liability
£

Accelerated capital allowances

-

781,680

Fair value adjustments

-

87,475

-

869,155

2023

Asset
£

Liability
£

Accelerated capital allowances

-

799,778

Fair value adjustments

-

87,475

Taxable losses carried forward

115,663

-

115,663

887,253

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

10

Tangible assets

Group

Freehold land and buildings
£

Furniture, fittings and equipment
 £

Plant and equipment
£

Total
£

Cost or valuation

At 1 December 2023

7,845,007

734,765

397,886

8,977,658

Additions

317,172

127,811

52,725

497,708

At 30 November 2024

8,162,179

862,576

450,611

9,475,366

Depreciation

At 1 December 2023

115,478

405,053

134,090

654,621

Charge for the year

89,476

99,461

71,830

260,767

At 30 November 2024

204,954

504,514

205,920

915,388

Carrying amount

At 30 November 2024

7,957,225

358,062

244,691

8,559,978

At 30 November 2023

7,729,529

329,712

263,796

8,323,037

11

Investment properties

Group

2024
£

Fair Value

At 1 December 2023 and 30 November 2024

700,000

The investment property is included at fair value as estimated by the directors at 30 November 2024 at an amount of £700,000.

12

Investments

Group

2024
£

2023
£

Investments in joint ventures

31,202

28,077

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Joint ventures

£

Cost

At 1 December 2023

28,077

Share of profit

133,125

Dividends received

(130,000)

At 30 November 2024

31,202

Carrying amount

At 30 November 2024

31,202

At 30 November 2023

28,077

Company

2024
£

2023
£

Investments in subsidiaries

98

98

Investments in joint ventures

50

50

148

148

Subsidiaries

£

Cost or valuation

At 1 December 2023 and 30 November 2024

98

Carrying amount

At 30 November 2024

98

At 30 November 2023

98


 

Joint ventures

£

Cost

At 1 December 2023

50

Carrying amount

At 30 November 2024

50

At 30 November 2023

50


 

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Godstone Farm Limited

1 Suffolk Way, Sevenoaks, Kent,

Ordinary

100%

100%

Borderton Limited

Glen Cottage, Butlers Dene Road, Woldingham, Surrey

Ordinary

100%

100%

Joint ventures

Godstone Farm Day Nursery Limited

Thrift Farm, Buckingham Road, Whaddon, Milton Keynes

Ordinary

50%

50%

Subsidiary undertakings

Godstone Farm Limited

The principal activity of Godstone Farm Limited is the operation of a childrens' farm attraction.

All subsidiaries are included in the consolidated results for the year.

Borderton Limited

The principal activity of Borderton Limited is property investment.

All subsidiaries are included in the consolidated results for the year.

Joint ventures

Godstone Farm Day Nursery Limited

The principal activity of Godstone Farm Day Nursery Limited is the operation of a children's day nursery. Its latest financial period end is 31 July 2024.

13

Stocks

 

Group

Company

2024
£

2023
£

2024
£

2023
£

Finished goods and goods for resale

116,560

103,261

-

-

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

14

Debtors

   

Group

Company

Note

2024
£

2023
£

2024
£

2023
£

Trade debtors

 

39,687

18,234

-

-

Amounts owed by group undertakings

 

-

-

2,729,900

2,599,900

Other debtors

 

1,240

1,313

-

-

Prepayments

 

101,161

59,879

-

-

Deferred tax assets

9

-

115,663

-

-

 

142,088

195,089

2,729,900

2,599,900

15

Cash and cash equivalents

 

Group

Company

2024
£

2023
£

2024
£

2023
£

Cash on hand

3,966

3,647

-

-

Cash at bank

73,487

331,137

2

2

Short-term deposits

1,121,001

238,013

-

-

1,198,454

572,797

2

2

16

Creditors

 

Group

Company

2024
£

2023
£

2024
£

2023
£

Due within one year

Trade creditors

117,547

186,280

-

-

Social security and other taxes

156,522

95,952

-

-

Other payables

316,871

298,414

50

50

Accruals

299,839

225,845

-

-

Corporation tax liability

55,078

5,885

-

-

945,857

812,376

50

50

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

17

Provisions for liabilities

Group

Deferred tax
£

Total
£

At 1 December 2023

887,253

887,253

Increase (decrease) in existing provisions

(18,098)

(18,098)

At 30 November 2024

869,155

869,155

18

Pension and other schemes

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £16,481 (2023 - £12,496).

19

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £1 each

1,249,950

1,249,950

1,249,950

1,249,950

Ordinary B of £1 each

1,249,950

1,249,950

1,249,950

1,249,950

Ordinary C of £1 each

6

6

6

6

Ordinary D of £1 each

6

6

6

6

Ordinary E of £1 each

6

6

6

6

Ordinary F of £1 each

6

6

6

6

Ordinary G of £1 each

1

1

1

1

Ordinary H of £1 each

1

1

1

1

Ordinary I of £1 each

1

1

1

1

Ordinary J of £1 each

1

1

1

1

Ordinary K of £1 each

1

1

1

1

Ordinary L of £1 each

1

1

1

1

Ordinary M of £1 each

1

1

1

1

Ordinary N of £1 each

1

1

1

1

Ordinary O of £1 each

1

1

1

1

Ordinary P of £1 each

1

1

1

1

Ordinary Q of £1 each

1

1

1

1

Ordinary R of £1 each

11

11

11

11

Ordinary S of £1 each

11

11

11

11

Ordinary T of £1 each

11

11

11

11

Ordinary U of £1 each

11

11

11

11

 

WithinR Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Ordinary V of £1 each

11

11

11

11

Ordinary W of £1 each

10

10

10

10

 

2,500,000

2,500,000

2,500,000

2,500,000

There are no restrictions on the repayment or capital or the payment of dividends. Each class of share capital carries equal voting rights.

20

Related party transactions

Group

Summary of transactions with subsidiaries

Exemption has been taken under FRS 102 paragraph 33.1A not to disclose transactions or amounts falling due between companies that are wholly owned within the group.