Registration number: 03294333

Sherwood Castle Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Sherwood Castle Limited

Company Information

Director

M Barney

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Sherwood Castle Limited

Statement of Financial Position as at 30 September 2024

	Note	2024 £	(As restated) 2023 £
Fixed assets
Tangible assets	4	34,533	46,044
Current assets
Stocks	5	375,425	153,266
Debtors	6	1,623,673	985,380
Cash at bank and in hand		38,071	24,548
		2,037,169	1,163,194
Creditors: Amounts falling due within one year	7	(1,350,705)	(632,090)
Net current assets		686,464	531,104
Total assets less current liabilities		720,997	577,148
Creditors: Amounts falling due after more than one year	7	(80,866)	(2,036)
Provisions for liabilities		(8,561)	(10,976)
Net assets		631,570	564,136
Capital and reserves
Called up share capital		75,400	75,400
Retained earnings		556,170	488,736
Shareholders' funds		631,570	564,136

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Sherwood Castle Limited

Statement of Financial Position as at 30 September 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.
 

Approved and authorised by the director on 24 September 2025
 

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

M Barney

Director

Company registration number: 03294333

Sherwood Castle Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the operation of a holiday home park.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

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.

Going concern

The company made a profit for the year ending 30 September 2024 and had net assets of £631,570 at that date.

At 30 September 2024 an amount of £512,772 was due to group undertakings who have agreed to not call for repayment until such time as the company has sufficient working capital.

The company has provided an interest free loan to group undertakings amounting to £1,203,326 which is repayable on demand and the directors believe that this remains recoverable.

The director is optimistic about future trading and expects the company to trade profitability in the forthcoming year. Forecasts prepared by the director show that the company has sufficient working capital for at least 12 months from the date of the approval of the financial statements.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax, rebates and discounts.

Accommodation income is recognised evenly over the period to which it relates.

Sherwood Castle Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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
Furniture, fittings and equipment	25% reducing balance
Motor vehicles	25% reducing balance
Plant and machinery	25% reducing balance

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.

Sherwood Castle Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 company 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.

3	Staff numbers

The average number of persons employed by the company during the year, was 14 (2023 - 22).

Sherwood Castle Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Plant and machinery £	(As restated) Total £
Cost or valuation
At 1 October 2023	169,369	4,000	118,475	291,844
At 30 September 2024	169,369	4,000	118,475	291,844
Depreciation
At 1 October 2023	139,704	3,422	102,674	245,800
Charge for the year	7,417	144	3,950	11,511
At 30 September 2024	147,121	3,566	106,624	257,311
Carrying amount
At 30 September 2024	22,248	434	11,851	34,533
At 30 September 2023	29,665	578	15,801	46,044

5

Stocks

	2024 £	2023 £
Stock	375,425	153,266

6

Debtors

	2024 £	(As restated) 2023 £
Trade debtors	12,458	41,190
Amounts owed by group undertakings	1,203,326	868,882
Other debtors	407,889	75,308
	1,623,673	985,380

Sherwood Castle Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	(As restated) 2023 £
Loans and borrowings	8	34,292	2,715
Trade creditors		89,340	95,556
Amounts owed to group undertakings		512,772	133,682
Taxation and social security		90,156	158,006
Accruals and deferred income		13,945	24,435
Other creditors		610,200	217,696
		1,350,705	632,090