REGISTERED NUMBER: 13781233 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024

FOR

OAKLANDS FARM PARK LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

W A Jones

Mrs S L Jones

Registered office:

Network House

Thorn Office Centre

Rotherwas

Hereford

HR2 6JT

Registered number:

13781233 (England and Wales)

Fixed assets

Intangible assets

4

67,900

77,600

Tangible assets

5

1,188,809

1,239,452

1,256,709

1,317,052

Current assets

Stocks

6

80,285

68,968

Debtors

7

8,298

13,262

Cash in hand

90

613

88,673

82,843

Creditors

Amounts falling due within one year

8

1,001,068

983,998

Net current liabilities

(912,395

)

(901,155

)

Total assets less current liabilities

344,314

415,897

Creditors

Amounts falling due after more than one year

9

640,690

615,798

Net liabilities

(296,376

)

(199,901

)

Capital and reserves

Called up share capital

12

90

90

Retained earnings

(296,466

)

(199,991

)

Shareholders' funds

(296,376

)

(199,901

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2025 and were signed on its behalf by:

W A Jones - Director

1.	Statutory information

Oaklands Farm Park Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The balance at the year end shows net liabilities of £296,376. The related party loan account stands at £950,027. The directors consider that the company is able to meet its obligations as they fall due and confirm that the related party will continue to support the company. Therefore they consider it appropriate to adopt the going concern basis in preparing these accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated in the Balance sheet at cost less depreciation.

Depreciation is provided at the following rates in order to write off each asset over its estimated useful life:

Freehold property

2% & 10% straight line

Plant & equipment

20% straight line

Motor vehicles

25% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 company after deducing all of its liabilities.

Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase & leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs & other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees (including officers)

The average number of employees during the year was 17 (2023 - 13 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1st January 2024

and 31st December 2024

97,000

Amortisation

At 1st January 2024

19,400

Amortisation for year

9,700

At 31st December 2024

29,100

Net book value

At 31st December 2024

67,900

At 31st December 2023

77,600

5.	Tangible fixed assets

Freehold

Plant &

Motor

property

equipment

vehicles

Totals

£

£

£

£

Cost

At 1st January 2024

1,177,266

103,819

44,264

1,325,349

Additions

-

2,311

-

2,311

At 31st December 2024

1,177,266

106,130

44,264

1,327,660

Depreciation

At 1st January 2024

41,203

32,714

11,980

85,897

Charge for year

20,659

21,228

11,067

52,954

At 31st December 2024

61,862

53,942

23,047

138,851

Net book value

At 31st December 2024

1,115,404

52,188

21,217

1,188,809

At 31st December 2023

1,136,063

71,105

32,284

1,239,452

Included in cost of land and buildings is freehold land of £ 150,000 (2023 - £ 150,000 ) which is not depreciated.

6.

Stocks

31.12.24

31.12.23

£

£

Stocks

80,285

68,968

7.

Debtors: amounts falling due within one year

31.12.24

31.12.23

£

£

Other debtors

8,298

9,162

Corporation tax

-

4,100

8,298

13,262

8.

Creditors: amounts falling due within one year

31.12.24

31.12.23

£

£

Bank loans & overdrafts

24,874

50,557

Trade creditors

6,947

7,179

Amounts owed to related parties

950,027

910,027

Social security & other taxes

10,550

7,741

Other creditors

8,670

8,494

1,001,068

983,998

9.

Creditors: amounts falling due after more than one year

31.12.24

31.12.23

£

£

Bank loans - two to five years

54,218

219,993

Bank loans over five years

586,472

395,805

640,690

615,798

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over five years

586,472

395,805

10.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

-

2,038

Between one and five years

-

849

-

2,887

11.	Secured debts

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

647,536

663,334

The bank loan of £647,536 is secured against the freehold property.

12.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

90

Ordinary

£1

90

90

13.	Contingent liabilities

There were no contingent liabilities at 31st December 2024.

14.	Related party disclosures

Related party transactions

The following transactions with related parties, on normal commercial terms, took place during the year:

Loans made/(repaid

)

Debtor balance

Creditor balance

£

£

£

Entities with common key management personnel

40,000

-

950,027

Other related parties

-

-

6,390

The loans were interest free and repayable on demand.