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Registered number: 07759411
Park House Dairy Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07759411
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 402 402
Tangible Assets 5 1,323,003 1,364,017
1,323,405 1,364,419
CURRENT ASSETS
Stocks 6 81,822 73,142
Debtors 7 109,517 101,502
Cash at bank and in hand 265,966 304,714
457,305 479,358
Creditors: Amounts Falling Due Within One Year 8 (273,735 ) (214,091 )
NET CURRENT ASSETS (LIABILITIES) 183,570 265,267
TOTAL ASSETS LESS CURRENT LIABILITIES 1,506,975 1,629,686
Creditors: Amounts Falling Due After More Than One Year 9 (446,688 ) (641,154 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (61,695 ) (61,695 )
NET ASSETS 998,592 926,837
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 997,592 925,837
SHAREHOLDERS' FUNDS 998,592 926,837
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Furnival
Director
30/04/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Park House Dairy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07759411 . The registered office is Park House, Lordsley Ashley, Market Drayton, Shropshire, TF9 4EJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Straight Line
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2024: 6)
6 6
4. Intangible Assets
Other
£
Cost
As at 1 April 2024 402
As at 31 March 2025 402
Net Book Value
As at 31 March 2025 402
As at 1 April 2024 402
5. Tangible Assets
Land & Property
Freehold Investment Properties Plant & Machinery Motor Vehicles
£ £ £ £
Cost or Valuation
As at 1 April 2024 588,079 416,335 692,730 36,300
Additions - - 21,803 22,587
Disposals - - - (21,750 )
Revaluation - 30 - -
As at 31 March 2025 588,079 416,365 714,533 37,137
...CONTINUED
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Depreciation
As at 1 April 2024 62,084 - 327,612 18,766
Provided during the period 11,762 - 41,648 5,953
Disposals - - - (5,438 )
As at 31 March 2025 73,846 - 369,260 19,281
Net Book Value
As at 31 March 2025 514,233 416,365 345,273 17,856
As at 1 April 2024 525,995 416,335 365,118 17,534
Fixtures & Fittings Total
£ £
Cost or Valuation
As at 1 April 2024 100,253 1,833,697
Additions - 44,390
Disposals - (21,750 )
Revaluation - 30
As at 31 March 2025 100,253 1,856,367
Depreciation
As at 1 April 2024 61,218 469,680
Provided during the period 9,759 69,122
Disposals - (5,438 )
As at 31 March 2025 70,977 533,364
Net Book Value
As at 31 March 2025 29,276 1,323,003
As at 1 April 2024 39,035 1,364,017
6. Stocks
2025 2024
£ £
Stock 81,822 73,142
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 99,498 86,953
Prepayments and accrued income 750 750
VAT 9,269 13,799
109,517 101,502
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 80,846 41,006
Bank loans and overdrafts 12,211 20,248
Corporation tax 35,713 9,175
PAYE control acc 3,855 2,552
Accruals and deferred income 111,110 111,110
Directors' loan accounts 30,000 30,000
273,735 214,091
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 215,442 212,356
Other creditors 13,131 13,131
Directors loan account 218,115 415,667
446,688 641,154
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
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