Company Registration No. 07796541 (England and Wales)
ASHLING PARK ESTATE LTD.
Unaudited accounts
for the year ended 31 October 2023
ASHLING PARK ESTATE LTD.
Unaudited accounts
Contents
ASHLING PARK ESTATE LTD.
Company Information
for the year ended 31 October 2023
Company Number
07796541 (England and Wales)
Registered Office
Ashling Park Vineyard
Funtington
Chichester
West Sussex
PO18 9DJ
ASHLING PARK ESTATE LTD.
Statement of financial position
as at 31 October 2023
Tangible assets
4,027,929
4,153,195
Inventories
928,787
782,365
Cash at bank and in hand
59,540
135,324
Creditors: amounts falling due within one year
(6,456,164)
(6,404,112)
Net current liabilities
(5,429,605)
(5,415,521)
Total assets less current liabilities
(1,401,676)
(1,262,326)
Provisions for liabilities
Deferred tax
(220,769)
(246,101)
Net liabilities
(1,622,445)
(1,508,427)
Called up share capital
100
100
Profit and loss account
(1,622,545)
(1,508,527)
Shareholders' funds
(1,622,445)
(1,508,427)
For the year ending 31 October 2023 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 December 2023 and were signed on its behalf by
Mrs G A Gardner
Director
Company Registration No. 07796541
ASHLING PARK ESTATE LTD.
Notes to the Accounts
for the year ended 31 October 2023
ASHLING PARK ESTATE LTD. is a private company, limited by shares, registered in England and Wales, registration number 07796541. The registered office is Ashling Park Vineyard, Funtington, Chichester, West Sussex, PO18 9DJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
These accounts have been produced on the Going Concern basis as the business is establishing itself as a major producer and retailer of fine wines and building tasting rooms and lodges for hospitality events in the future
The accounts are presented in £ sterling.
Revenue, described as turnover is the value of goods and services, net of VAT and discounts, provided to customers during the year.
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 items. Cost is determined on a first in, first out basis. Net realisable value is based on estimated selling price, less any further costs of realisation.
Tangible fixed assets and depreciation
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, if shorter, as follows:
Plant & machinery
20% per annum straight line
Fixtures & fittings
20% per annum straight line
Computer equipment
25% per annum straight line
Other tangible fixed assets
2% per annum straight line
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
ASHLING PARK ESTATE LTD.
Notes to the Accounts
for the year ended 31 October 2023
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2022
213,622
29,000
4,303,431
10,191
4,556,244
Additions
9,500
6,253
10,324
-
26,077
At 31 October 2023
223,122
35,253
4,313,755
10,191
4,582,321
At 1 November 2022
148,117
1,450
245,296
8,186
403,049
Charge for the year
33,170
6,738
110,219
1,216
151,343
At 31 October 2023
181,287
8,188
355,515
9,402
554,392
At 31 October 2023
41,835
27,065
3,958,240
789
4,027,929
At 31 October 2022
65,505
27,550
4,058,135
2,005
4,153,195
Amounts falling due within one year
Trade debtors
31,691
34,286
Other debtors
6,541
36,616
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
79,758
71,663
Taxes and social security
45,162
54,829
Other creditors
74,127
49,503
Loans from directors
6,257,117
6,228,117
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Average number of employees
During the year the average number of employees was 28 (2022: 30).