North Challacombe Farm Holidays Ltd

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

North Challacombe Farm Holidays Ltd

(Registration number: 10976159)
Statement of Financial Position as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	10,733	12,004
Current assets
Debtors	5	11,723	13,641
Cash at bank and in hand		47,704	51,014
		59,427	64,655
Creditors: Amounts falling due within one year	6	(7,045)	(5,093)
Net current assets		52,382	59,562
Total assets less current liabilities		63,115	71,566
Provisions for liabilities		(2,683)	(3,001)
Net assets		60,432	68,565
Capital and reserves
Called up share capital		100	100
Profit and loss account		60,332	68,465
Shareholders' funds		60,432	68,565

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 21 August 2026 and signed on its behalf by:
 

Jeremy Edwards Director

North Challacombe Farm Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
47 Boutport Street
Barnstaple
Devon
EX31 1SQ

Principal activity

The principal activity of the company is the running of a holiday let.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

North Challacombe Farm Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

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
Fixtures, fittings and equipment	16.67% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

North Challacombe Farm Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

4	Tangible assets

	Fixtures, fittings and equipment £	Total £
Cost or valuation
At 1 October 2024	40,182	40,182
Additions	2,261	2,261
At 30 September 2025	42,443	42,443
Depreciation
At 1 October 2024	28,178	28,178
Charge for the year	3,532	3,532
At 30 September 2025	31,710	31,710
Carrying amount
At 30 September 2025	10,733	10,733
At 30 September 2024	12,004	12,004

North Challacombe Farm Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

5

Debtors

	2025 £	2024 £
Other debtors	11,580	13,498
Prepayments	143	143
	11,723	13,641

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	4,943	3,532
Accruals and deferred income	2,102	1,561
	7,045	5,093

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Related party transactions

Transactions with directors

2025	At 1 October 2024 £	Advances to director £	Repayments by director £	At 30 September 2025 £
The directors	13,498	24,500	(29,340)	8,658

North Challacombe Farm Holidays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

8	Related party transactions (continued)

2024	At 1 October 2023 £	Advances to director £	Repayments by director £	At 30 September 2024 £
The directors	3,838	13,660	(4,000)	13,498

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.