| RED FURLONG FARM LIMITED |
| Registered number: |
13042757 |
| Balance Sheet |
| as at 30 November 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
1,645,616 |
|
|
1,366,455 |
|
| Current assets |
| Debtors |
4 |
|
- |
|
|
661 |
| Cash at bank and in hand |
|
|
28,546 |
|
|
30,238 |
|
|
|
28,546 |
|
|
30,899 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,009,984) |
|
|
(654,493) |
|
| Net current liabilities |
|
|
|
(981,438) |
|
|
(623,594) |
|
| Total assets less current liabilities |
|
|
|
664,178 |
|
|
742,861 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(732,175) |
|
|
(769,662) |
|
|
|
| Net liabilities |
|
|
|
(67,997) |
|
|
(26,801) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
300 |
|
|
300 |
| Profit and loss account |
|
|
|
(68,297) |
|
|
(27,101) |
|
| Shareholders' funds |
|
|
|
(67,997) |
|
|
(26,801) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr Martin Flannery |
| Director |
| Approved by the board on 14 August 2023 |
|
| RED FURLONG FARM LIMITED |
| Notes to the Accounts |
| for the year ended 30 November 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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 rent of the land and property. Turnover from the rent of the land and property is recognised by reference to the period relates to the company financial year. |
|
|
Investment property |
|
Investment property is included at fair value. Gains are recognised in the Income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investment property |
|
| Investment |
| property |
| £ |
|
Cost |
|
At 1 December 2021 |
1,366,455 |
|
Additions |
279,161 |
|
|
At 30 November 2022 |
1,645,616 |
|
|
Investment property is valued on the basis of its fair value as at 30 November 2022 by the company's internally qualified personnel based on the sales values of similar land and properties in the area. |
|
|
| 4 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Other debtors |
- |
|
661 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans |
69,722 |
|
69,722 |
|
Amounts owed to related company |
|
Note 7 |
|
937,441 |
|
583,671 |
|
Other creditors |
2,821 |
|
1,100 |
|
|
|
|
|
|
1,009,984 |
|
654,493 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans |
732,175 |
|
769,662 |
|
|
|
|
|
|
|
|
|
|
The bank loan is secured on the assets of the company. In additions, the bank have their loan secured by way of a cross guarantee from P.Flannery Plant Hire (Oval) Limited, Flannery Properties Limited, Red Furlong Farm Limited and Midlands Accommodation Limited. |
|
| 7 |
Related party transactions |
|
|
Mr Martin Flannery, Mr Patrick Flannery and the Mr Paul Flannery are the directors of P. Flannery Plant Hire (Oval) Limited. As at the balance sheet date, the amount owed to P. Flannery Plant Hire (Oval) Limited was £937,441. There are no fixed terms of repayment. |
|
|
| 8 |
Other information |
|
|
RED FURLONG FARM LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
27a Maxwell Road |
|
Northwood |
|
Middlesex |
|
HA6 2XY |
