| The Root Field Management Company Limited |
| Registered number: |
03084401 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 31 December 2024. |
|
| Principal activities |
| The company's principal activity during the year continued to be that of owning and receiving grazing rents from The Root Field, Tadworth. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
D N Kent (Resigned 20th September 2024) |
|
T J D Raincock (Appointed 1st March 2024) |
|
A J Smith (Appointed 1st March 2024) |
|
A Stewart (Appointed 1st March 2024) |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 2 September 2025 and signed on its behalf. |
|
|
|
|
|
| T J D Raincock |
| Director |
|
| The Root Field Management Company Limited |
| Registered number: |
03084401 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
40,000 |
|
|
40,000 |
|
| Current assets |
| Debtors |
4 |
|
2,092 |
|
|
611 |
| Cash at bank and in hand |
|
|
32,161 |
|
|
32,605 |
|
|
|
34,253 |
|
|
33,216 |
|
| Creditors: amounts falling due within one year |
5 |
|
(2,912) |
|
|
(2,693) |
|
| Net current assets |
|
|
|
31,341 |
|
|
30,523 |
|
| Total assets less current liabilities |
|
|
|
71,341 |
|
|
70,523 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(38,986) |
|
|
(38,986) |
|
|
|
| Net assets |
|
|
|
32,355 |
|
|
31,537 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
14 |
|
|
14 |
| Profit and loss account |
|
|
|
32,341 |
|
|
31,523 |
|
| Shareholders' funds |
|
|
|
32,355 |
|
|
31,537 |
|
|
|
|
|
|
|
|
| The directors are 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 directors acknowledge their 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. |
|
|
|
|
| T J D Raincock |
| Director |
| Approved by the board on 2 September 2025 |
|
| The Root Field Management Company Limited |
| 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 represents grazing rents receivable. |
|
|
Tangible fixed assets |
|
When applicable, 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 land |
Not Depreciated |
|
Freehold buildings |
n/a |
|
Leasehold land & buildings |
n/a |
|
Plant & Machinery |
n/a |
|
Fixtures, fittings, tools and equipment |
n/a |
|
|
Freehold land has not been revalued due the difficulty in establishing a fair basis of valuation. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. When applicable, 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). When applicable, 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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land |
| £ |
|
Cost |
|
At 1 January 2024 |
40,000 |
|
At 31 December 2024 |
40,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
40,000 |
|
At 31 December 2023 |
40,000 |
|
|
| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Other debtors |
2,092 |
|
611 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Corporation tax |
192 |
|
493 |
|
Other creditors |
2,720 |
|
2,200 |
|
|
|
|
|
|
2,912 |
|
2,693 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Other creditors |
38,986 |
|
38,986 |
|
|
|
|
|
|
|
|
|
|
Other creditors represents the outstanding balance of Subordinated Unsecured Loan Notes (due 31st December 2094) in units of £1.00 each. The holders of these loan notes as at 31st December 2024 were as follows - |
|
|
Name of Holder |
|
Value of Notes Held |
|
|
|
|
|
|
|
|
Notes Held |
|
|
|
|
|
|
|
|
£ |
|
P M Davies |
|
1,499.00 |
|
R J Butler & R M Butler |
|
2,999.00 |
|
M L Kent & C Kent |
|
2,999.00 |
|
A Furness |
|
2,999.00 |
|
M D Webb |
|
2,999.00 |
|
D H Lawrence & A M Marjoribanks |
|
2,999.00 |
|
E O M Thesiger & J C Thesiger |
|
2,999.00 |
|
G C Spriegel & J Spriegel |
|
2,999.00 |
|
M D McGarry & H McGarry |
|
2,999.00 |
|
T J Pocock & M Pocock |
|
2,999.00 |
|
R J Anderson |
|
2,999.00 |
|
D N Kent & S M Kent |
|
2,999.00 |
|
D Patel & S Patel |
|
1,499.00 |
|
A A M Robinson |
|
1,499.00 |
|
S I M Robinson |
|
1,500.00 |
|
|
|
38,986.00 |
|
|
|
|
|
|
The total outstanding balance of Subordinated Unsecured Loan Notes as at 31st December 2023 was £38,986 |
|
|
| 7 |
Other information |
|
|
The Root Field Management Company Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Station House |
|
Station Road |
|
Betchworth |
|
Surrey |
|
RH3 7BZ |