Sturt Farm Burford Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10172113

Sturt Farm Burford Ltd

Filleted Unaudited Financial Statements

31 December 2024

Sturt Farm Burford Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		106,758		101,912

Current assets

Stocks		5,441,340	4,321,973
Debtors	6	39,994	41,864
Cash at bank and in hand		14,731	14,065
		------------	------------
		5,496,065	4,377,902

Creditors: amounts falling due within one year	7	6,126,967		4,714,947
		------------		------------
Net current liabilities			630,902		337,045
			---------		---------
Total assets less current liabilities			( 524,144)		( 235,133)
			---------		---------
Net liabilities			( 524,144)		( 235,133)
			---------		---------

Capital and reserves

Called up share capital	8	100	100
Profit and loss account		( 524,244)	( 235,233)
		---------	---------
Shareholders deficit		( 524,144)	( 235,133)
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Sturt Farm Burford Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 20 August 2025 , and are signed on behalf of the board by:

Mr S Fitzsimmons
Director

Company registration number: 10172113

Sturt Farm Burford Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.

2. Statement of compliance

These financial statements have been prepared in compliance with the provision of FRS102 Section 1A small entities, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable profit or losses where appropriate.

Going concern

The financial statements have been prepared on a going concern basis which is dependent on the continued support of its creditors. The director of a creditor has expressed their willingness to support the company for the foreseeable future by ensuring sufficient funds are available for the company to continue trading.

Revenue recognition

The turnover shown in the profit and loss account represents net amounts invoiced during the year, exclusive of Value added tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	20% reducing balance
Motor Vehicles	-	20% reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

One of which is the director.

5. Tangible assets

	Investment property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	90,000	23,586	8,206	121,792
Additions	–	7,886	–	7,886
	--------	--------	-------	---------
At 31 December 2024	90,000	31,472	8,206	129,678
	--------	--------	-------	---------
Depreciation
At 1 January 2024	–	13,252	6,628	19,880
Charge for the year	–	2,724	316	3,040
	--------	--------	-------	---------
At 31 December 2024	–	15,976	6,944	22,920
	--------	--------	-------	---------
Carrying amount
At 31 December 2024	90,000	15,496	1,262	106,758
	--------	--------	-------	---------
At 31 December 2023	90,000	10,334	1,578	101,912
	--------	--------	-------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	4,764	–
Other debtors	35,230	41,864
	--------	--------
	39,994	41,864
	--------	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	1,715,590	–
Trade creditors	7,600	97,609
Amounts owed to related undertakings	4,326,337	4,382,987
Other creditors	77,440	234,351
	------------	------------
	6,126,967	4,714,947
	------------	------------

Downing LLP holds a charge over the assets of Sturt Farm Burford Limited as part of the loan agreement. At the year end, the total amount outstanding on the loan was £1,715,590.

8. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

9. Guarantees

On 3 May 2024, the company entered into a fixed charge in favour of the property owned by the company.

10. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2024	2023	2024	2023
	£	£	£	£
Other related parties	–	–	( 4,326,337)	( 4,382,987)
	----	----	------------	------------