Company No: 00723002 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	48,255		63,231
		48,255		63,231
Current assets
Stocks	4	52,922		38,327
Debtors	5	26,318		16,906
Cash at bank and in hand		68,819		92,357
		148,059		147,590
Creditors: amounts falling due within one year	6	( 500,642)		( 540,397)
Net current liabilities		(352,583)		(392,807)
Total assets less current liabilities		(304,328)		(329,576)
Net liabilities		( 304,328)		( 329,576)
Capital and reserves
Called-up share capital	7	20,000		20,000
Other reserves		10,775		10,775
Profit and loss account		( 335,103 )		( 360,351 )
Total shareholders' deficit		( 304,328)		( 329,576)

For the financial year ending 31 March 2025 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Chapel Farm (Newquay) Limited (registered number: 00723002) were approved and authorised for issue by the Board of Directors on 08 December 2025. They were signed on its behalf by:

Mr R G Adams Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chapel Farm (Newquay) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Chapel Farm, Chapel, Newquay, TR8 4NZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	10 years straight line
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 April 2024	101,272		522,541		203,987		38,795		866,595
At 31 March 2025	101,272		522,541		203,987		38,795		866,595
Accumulated depreciation
At 01 April 2024	80,788		492,148		191,633		38,795		803,364
Charge for the financial year	4,288		7,599		3,089		0		14,976
At 31 March 2025	85,076		499,747		194,722		38,795		818,340
Net book value
At 31 March 2025	16,196		22,794		9,265		0		48,255
At 31 March 2024	20,484		30,393		12,354		0		63,231

4. Stocks

	2025		2024
	£		£
Stocks	52,922		38,327

5. Debtors

	2025		2024
	£		£
Trade debtors	25,534		16,414
Prepayments	784		404
VAT recoverable	0		88
	26,318		16,906

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	29,358		5,430
Amounts owed to directors	172,566		227,954
Accruals and deferred income	19,837		27,375
Other taxation and social security	( 757)		0
Other creditors	279,638		279,638
	500,642		540,397

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
20,000 Ordinary shares shares of £ 1.00 each	20,000		20,000