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Registration number: 10579915

Dalwood Hill Farm Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Dalwood Hill Farm Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Dalwood Hill Farm Limited

(Registration number: 10579915)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,110,465

525,065

Current assets

 

Debtors

5

117,329

163,701

Cash at bank and in hand

 

1,343

4,909

 

118,672

168,610

Creditors: Amounts falling due within one year

6

(970,878)

(489,867)

Net current liabilities

 

(852,206)

(321,257)

Net assets

 

258,259

203,808

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

258,159

203,708

Shareholders' funds

 

258,259

203,808

For the financial year ending 31 December 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 26 August 2025 and signed on its behalf by:
 


Mr A P Benger
Director

 

Dalwood Hill Farm Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 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:
White Lodge
Dalwood
Axminster
Devon
EX13 7EY

Principal activity

The principal activity of the company is that of property management.

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.

 

Dalwood Hill Farm Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 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.

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.

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.

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

 

Dalwood Hill Farm Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 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 2 (2023 - 2).

4

Investment properties

2024
£

At 1 January

525,065

Additions

585,400

At 31 December

1,110,465

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

5

Debtors

2024
£

2023
£

Trade debtors

3,780

-

Other debtors

113,549

163,701

117,329

163,701

 

Dalwood Hill Farm Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

14,530

23,806

Accruals and deferred income

1,750

995

Other creditors

954,598

465,066

970,878

489,867

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Transactions with Directors

163,700

217,472

(889,680)

(508,508)

         
       

 

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Transactions with Directors

(168,832)

332,532

163,700

 

Summary of transactions with other related parties

As at the end of the financial year, the company owes a company with a Director in common £446,089 (2023:465,066). This amount is included within creditors.