REGISTERED NUMBER:
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UNAUDITED CESSATION FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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MUDCHUTE PARK AND FARM LIMITED |
REGISTERED NUMBER:
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UNAUDITED CESSATION FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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MUDCHUTE PARK AND FARM LIMITED |
MUDCHUTE PARK AND FARM LIMITED (REGISTERED NUMBER: 02713933) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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MUDCHUTE PARK AND FARM LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Bryant House |
Bryant Road |
Strood |
Rochester |
Kent |
ME2 3EW |
MUDCHUTE PARK AND FARM LIMITED (REGISTERED NUMBER: 02713933) |
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BALANCE SHEET |
31 MARCH 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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. |
MUDCHUTE PARK AND FARM LIMITED (REGISTERED NUMBER: 02713933) |
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BALANCE SHEET - continued |
31 MARCH 2022 |
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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 Board of Directors and authorised for issue on
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MUDCHUTE PARK AND FARM LIMITED (REGISTERED NUMBER: 02713933) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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1. | STATUTORY INFORMATION |
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Mudchute Park and Farm Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company has transferred from previously extant FRS 101 to FRS 102 as at 1 April 2020. The transition has not resulted in any presentational changes and there has been no impact on the reported financial position and financial performance. |
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Transition to FRS 102 |
This is the first year that the company has presented its financial statements under FRS 102. There were no changes to the previously stated equity at 1 April 2020 or 1 April 2021 as a result of the transition and no changes to the profit previously reported for the year ended 31 March 2021. |
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Turnover |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes. Turnover is not recognised when goods or services are exchanged for goods or services that are of a similar nature and value or when the transaction lacks commercial substance. |
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Sale of goods |
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Turnover from the sale of goods is recognised when all of the following conditions are satisfied: |
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- the company has transferred the significant risks and rewards of ownership to the buyer; |
- the company retains neither continuing managerial involvement to the degree usually associated with the ownership nor effective control over the goods sold; |
- the amount of revenue can be measured reliably; |
- it is probable that the company will receive the consideration due under the transaction; |
- the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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Rendering of services |
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The percentage of completion method is used to calculate the revenue recognised at the period end. |
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Turnover from the rendering of services is recognised when all of the following conditions are satisfied: |
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- the amount of revenue can be measured reliably; |
- it is probable that the economic benefits associated with the transaction will flow to the entity; |
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and |
- the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. |
MUDCHUTE PARK AND FARM LIMITED (REGISTERED NUMBER: 02713933) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Government grants |
Government grants are recognised using the performance model. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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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Employee benefits |
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence. |
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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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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2021 |
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Disposals | ( |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Eliminated on disposal | ( |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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MUDCHUTE PARK AND FARM LIMITED (REGISTERED NUMBER: 02713933) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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5. | STOCKS |
2022 | 2021 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | ULTIMATE CONTROLLING PARTY |
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The company's share capital is 100% owned by The Mudchtute Association, a registered charity. The charity's registered office is Unit Gf 21 Harlow Enterprise Hub, Edinburgh Way, Harlow, Essex, CM20 2NQ. |
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The company has taken advantage of exemptions under FRS 102 not to disclose transactions with group entities as it is a wholly owned subsidiary of The Mudchute Association. |
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The Mudchute Association is a charitable company, registered in England and Wales, with publicly available financial statements. |