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Unaudited Financial Statements |
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for the Year Ended 31 May 2021 |
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for |
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Camden Farm Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 May 2021 |
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for |
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Camden Farm Ltd |
Camden Farm Ltd (Registered number: 10170434) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Camden Farm Ltd |
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Company Information |
for the Year Ended 31 May 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Bennett House |
The Dean |
Alresford |
Hampshire |
SO24 9BH |
Camden Farm Ltd (Registered number: 10170434) |
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Balance Sheet |
31 May 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Camden Farm Ltd (Registered number: 10170434) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2021 |
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1. | STATUTORY INFORMATION |
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Camden Farm Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Government grants |
Government grants in relation to tangible fixed asset are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Camden Farm Ltd (Registered number: 10170434) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2021 |
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 June 2020 |
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Additions |
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At 31 May 2021 |
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DEPRECIATION |
At 1 June 2020 |
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Charge for year |
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At 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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Directors' current accounts | 278,966 | 206,688 |
Accrued expenses |
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7. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 11,065 | - |
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Deferred |
tax |
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Accelerated CAs | 22,257 |
Losses | (11,192 | ) |
Balance at 31 May 2021 |
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Camden Farm Ltd (Registered number: 10170434) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2021 |
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8. | RELATED PARTY DISCLOSURES |
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Mr T I Fane |
A director and shareholder |
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At the balance sheet date the amount due from the company was £278,966 (2020: £206,688). |
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The freehold property at Camden Farm is owned by Mr T Fane and is made available to the company for the furnished holiday let business, no rent is paid. |
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9. | POST BALANCE SHEET EVENTS |
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The director has considered the impact of the COVID19 pandemic and whilst detrimental to the company, he does not consider it will affect the company's ability to continue in operational existence. Further disclosures will be made in the accounts to 31 May 2022. |