Registered number
11254434
Ashley Game Farm Ltd
Filleted Accounts
31 December 2024
Ashley Game Farm Ltd
Registered number: 11254434
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,637,514 1,873,935
Current assets
Stocks 113,630 167,190
Debtors 4 1,282,382 1,041,760
Cash at bank and in hand 530,540 670,257
1,926,552 1,879,207
Creditors: amounts falling due within one year 5 (640,003) (672,412)
Net current assets 1,286,549 1,206,795
Total assets less current liabilities 2,924,063 3,080,730
Creditors: amounts falling due after more than one year 6 (665,446) (815,749)
Net assets 2,258,617 2,264,981
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 2,257,617 2,263,981
Shareholders' funds 2,258,617 2,264,981
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C L P Hodgson
Director
Approved by the board on 25 June 2025
Ashley Game Farm Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings and infrastructure over 20 years
Plant and machinery 10% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 17
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 827,549 1,737,707 385,729 2,950,985
Additions 5,272 85,110 111,148 201,530
Disposals (280,728) (61,453) (15,670) (357,851)
At 31 December 2024 552,093 1,761,364 481,207 2,794,664
Depreciation
At 1 January 2024 239,936 639,969 197,145 1,077,050
Charge for the year 27,600 110,279 67,213 205,092
On disposals (88,752) (23,572) (12,668) (124,992)
At 31 December 2024 178,784 726,676 251,690 1,157,150
Net book value
At 31 December 2024 373,309 1,034,688 229,517 1,637,514
At 31 December 2023 587,613 1,097,738 188,584 1,873,935
4 Debtors 2024 2023
£ £
Trade debtors 1,254,046 992,265
Other debtors 28,336 49,495
1,282,382 1,041,760
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 178,392 176,220
Obligations under finance lease and hire purchase contracts 10,734 13,657
Trade creditors 378,942 389,337
Taxation and social security costs 71,935 93,198
640,003 672,412
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 625,992 806,487
Obligations under finance lease and hire purchase contracts 35,825 3,177
Director's loan account 3,629 6,085
665,446 815,749
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 804,384 982,707
Security provided by director's personal guarantee and partial guarantee under the Coronavirus Business Interruption Loan Scheme.
8 Other information
Ashley Game Farm Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Ashley House
Wembworthy
Chumleigh
Devon
EX18 7RH
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