Registration number: 06889217

Willow Lakes (Ashby Hill Top Farm) Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Willow Lakes (Ashby Hill Top Farm) Ltd

(Registration number: 06889217)
Balance Sheet as at 30 June 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Tangible assets	4	5,357,781	5,464,912
Current assets
Stocks	5	36,002	36,002
Debtors	6	32,643	34,870
Cash at bank and in hand		104,409	28,389
		173,054	99,261
Creditors: Amounts falling due within one year	7	(804,098)	(630,099)
Net current liabilities		(631,044)	(530,838)
Total assets less current liabilities		4,726,737	4,934,074
Creditors: Amounts falling due after more than one year	7	(3,683,566)	(3,557,402)
Provisions for liabilities		(163,412)	(247,722)
Net assets		879,759	1,128,950
Capital and reserves
Called up share capital		8	8
Other reserves		1,434,005	1,434,005
Retained earnings		(554,254)	(305,063)
Shareholders' funds		879,759	1,128,950

For the financial year ending 30 June 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 Profit and Loss Account.

Approved and authorised by the Board on 25 March 2026 and signed on its behalf by:
 

Willow Lakes (Ashby Hill Top Farm) Ltd

(Registration number: 06889217)
Balance Sheet as at 30 June 2025

......................................... J T Collis Director

......................................... L P Marsh Director

Willow Lakes (Ashby Hill Top Farm) Ltd

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

1	General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Willow Lakes
Barton Street
Ashby-Cum-Fenby
Grimsby
DN37 0RU

These financial statements were authorised for issue by the Board on 25 March 2026.

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 cover the individual entity, have been prepared in Pound Sterling and are rounded to the nearest pound.

Going concern

Not withstanding the negative profit and loss reserves at 30 June 2025 the financial statements have been prepared on a going concern basis which the directors consider to be appropriate as they have reviewed the forecasts for a period of 12 months from the date of approval of the financial statements and the directors believe the Company can return to profitability in the short to medium term and that the Company will have sufficient funds to meet its liabilities as they fall due.

Reclassification of comparative amounts

The original deferred tax provision of £65,737 in 2024 has been restated from £65,737 to £247,722. This is to reflect the actual base cost position.

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 sales/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.

Government grants

Government grants which become receivable as compensation for expenses and losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable. Grants which become receivable for the purpose of capital expenditure are recognised against such costs.

Willow Lakes (Ashby Hill Top Farm) Ltd

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

Tax

The tax expense for the period comprises 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.

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
Plant and machinery	10% straight line basis
Fixtures and fittings	10% straight line basis
Office equipment	10% straight line basis
Motor vehicles	25% straight line basis

Investment property

Fixed assets are measured at cost less depreciation, except for the case of freehold and buildings.

Freehold land and buildings are carried at fair value, this has been derived by the directors and any changes in fair value are recognised in profit or loss.

Buildings included in freehold land and buildings are maintained to a very high standard through regular maintanence and repair. Therefore depreciation has not been provided for as, in the directors' opinion, the residual value is at least equal to the carrying value disclosed in the accounts. This accounting treatment is a departure from FRS 102 Section 1A. However, the directors believe that to comply with this requirement, the financial statements would not show a true and fair view of the company's financial position.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Entitlements	50% straight line basis

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Willow Lakes (Ashby Hill Top Farm) Ltd

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary and preference shares are classified as equity.

The preference shares are redeemable at the option of the company and upon winding up of the company the holders of the shares have a right to receive par value in preference to the ordinary shares of the company.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 50 (2024 - 48).

Willow Lakes (Ashby Hill Top Farm) Ltd

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

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2024	5,280,652	381,873	32,800	5,695,325
Additions	23,662	13,164	-	36,826
Disposals	(110,000)	-	(18,300)	(128,300)
At 30 June 2025	5,194,314	395,037	14,500	5,603,851
Depreciation
At 1 July 2024	-	208,299	22,114	230,413
Charge for the year	-	23,271	3,640	26,911
Eliminated on disposal	-	-	(11,254)	(11,254)
At 30 June 2025	-	231,570	14,500	246,070
Carrying amount
At 30 June 2025	5,194,314	163,467	-	5,357,781
At 30 June 2024	5,280,652	173,574	10,686	5,464,912

Included within the net book value of land and buildings above is £5,194,314 (2024 - £5,280,652) in respect of freehold land and buildings. The property has been revalued in the year by the directors of the company.
 

5

Stocks

	2025 £	2024 £
Other inventories	36,002	36,002

6

Debtors

Current	2025 £	2024 £
Trade debtors	(20)	6,119
Prepayments	21,684	20,013
Other debtors	10,979	8,738
	32,643	34,870

Willow Lakes (Ashby Hill Top Farm) Ltd

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	270,165	207,954
Trade creditors		384,872	255,521
Taxation and social security		96,811	95,251
Accruals and deferred income		16,359	27,363
Other creditors		35,891	44,010
		804,098	630,099

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £56,081 (2024 - £80,412).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	3,683,566	3,557,402

	2025 £	2024 £
Due after more than five years
After more than five years by instalments	1,439,935	1,299,598

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