18
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2021-02-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
05330605
2021-02-01
2022-01-31
05330605
2022-01-31
05330605
2021-01-31
05330605
2020-02-01
2021-01-31
05330605
2021-01-31
05330605
core:LandBuildings
core:LongLeaseholdAssets
2021-02-01
2022-01-31
05330605
core:PlantMachinery
2021-02-01
2022-01-31
05330605
core:FurnitureFittings
2021-02-01
2022-01-31
05330605
core:MotorVehicles
2021-02-01
2022-01-31
05330605
bus:RegisteredOffice
2021-02-01
2022-01-31
05330605
bus:LeadAgentIfApplicable
2021-02-01
2022-01-31
05330605
bus:Director1
2021-02-01
2022-01-31
05330605
bus:Director2
2021-02-01
2022-01-31
05330605
core:LandBuildings
2021-01-31
05330605
core:PlantMachinery
2021-01-31
05330605
core:FurnitureFittings
2021-01-31
05330605
core:MotorVehicles
2021-01-31
05330605
core:LandBuildings
2022-01-31
05330605
core:PlantMachinery
2022-01-31
05330605
core:FurnitureFittings
2022-01-31
05330605
core:MotorVehicles
2022-01-31
05330605
core:LandBuildings
2021-02-01
2022-01-31
05330605
core:WithinOneYear
2022-01-31
05330605
core:WithinOneYear
2021-01-31
05330605
core:AfterOneYear
2022-01-31
05330605
core:AfterOneYear
2021-01-31
05330605
core:ShareCapital
2022-01-31
05330605
core:ShareCapital
2021-01-31
05330605
core:RetainedEarningsAccumulatedLosses
2022-01-31
05330605
core:RetainedEarningsAccumulatedLosses
2021-01-31
05330605
core:LandBuildings
2021-01-31
05330605
core:PlantMachinery
2021-01-31
05330605
core:FurnitureFittings
2021-01-31
05330605
core:MotorVehicles
2021-01-31
05330605
bus:SmallEntities
2021-02-01
2022-01-31
05330605
bus:AuditExemptWithAccountantsReport
2021-02-01
2022-01-31
05330605
bus:FullAccounts
2021-02-01
2022-01-31
05330605
bus:SmallCompaniesRegimeForAccounts
2021-02-01
2022-01-31
05330605
bus:PrivateLimitedCompanyLtd
2021-02-01
2022-01-31
05330605
core:OfficeEquipment
2021-02-01
2022-01-31
05330605
core:OfficeEquipment
2021-01-31
05330605
core:OfficeEquipment
2022-01-31
05330605
bus:Director1
2022-01-31
COMPANY REGISTRATION NUMBER:
05330605
WOODSIDE FALCONRY LIMITED
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
WOODSIDE FALCONRY LIMITED
|
|
YEAR ENDED 31 JANUARY 2022
Officers and professional advisers
|
1
|
|
|
Statement of financial position
|
2
|
|
|
Notes to the financial statements
|
4
|
|
|
WOODSIDE FALCONRY LIMITED
|
|
OFFICERS AND PROFESSIONAL ADVISERS
|
|
The board of directors
|
A Mumby
|
|
N Mumby
|
|
|
Registered office
|
Woodside Falconry Centre
|
|
Newball
|
|
Langworth
|
|
Lincoln
|
|
Lincolnshire
|
|
LN3 5DQ
|
|
|
Accountants
|
Streets LLP
|
|
Chartered accountants
|
|
Tower House
|
|
Lucy Tower Street
|
|
Lincoln
|
|
Lincolnshire
|
|
LN1 1XW
|
|
|
Bankers
|
HSBC Bank Plc
|
|
221 High Street
|
|
Lincoln
|
|
Lincolnshire
|
|
LN1 1TS
|
|
|
WOODSIDE FALCONRY LIMITED
|
|
STATEMENT OF FINANCIAL POSITION
|
|
31 January 2022
Fixed assets
Tangible assets
|
5
|
|
474,189
|
476,932
|
|
|
|
|
|
Current assets
Stocks
|
15,000
|
|
15,000
|
Debtors
|
6
|
110,725
|
|
225,732
|
Cash at bank and in hand
|
342,514
|
|
164,930
|
|
----------
|
|
----------
|
|
468,239
|
|
405,662
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
92,221
|
|
107,761
|
|
----------
|
|
----------
|
Net current assets
|
|
376,018
|
297,901
|
|
|
----------
|
----------
|
Total assets less current liabilities
|
|
850,207
|
774,833
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
8
|
|
93,333
|
138,704
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
15,499
|
17,689
|
|
|
----------
|
----------
|
Net assets
|
|
741,375
|
618,440
|
|
|
----------
|
----------
|
|
|
|
|
WOODSIDE FALCONRY LIMITED
|
|
STATEMENT OF FINANCIAL POSITION (continued)
|
|
31 January 2022
Capital and reserves
Called up share capital
|
|
100
|
100
|
Profit and loss account
|
|
741,275
|
618,340
|
|
|
----------
|
----------
|
Shareholders funds
|
|
741,375
|
618,440
|
|
|
----------
|
----------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2022 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
26 January 2023
, and are signed on behalf of the board by:
A Mumby
|
N Mumby
|
Director
|
Director
|
|
|
Company registration number:
05330605
WOODSIDE FALCONRY LIMITED
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 JANUARY 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Woodside Falconry Centre, Newball, Langworth, Lincoln, Lincolnshire, LN3 5DQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The UK economy continues to be affected by the Coronavirus pandemic. The potential effects to the company and its future prospects cannot be fully quantified but the directors remain committed to the protection of the business. This is being regularly reviewed by the directors. In addition the directors are mindful of the significant ongoing support being offered by the Government. Accordingly the financial statements have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. Significant judgements There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies which have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: (i) Depreciation charges The annual depreciation charge for tangible assets is sensitive to changes in the useful economic lives and residual values of the assets. These are reviewed periodically by the Directors to ensure that they reflect both external and internal factors.
Revenue recognition
The turnover shown in the profit and loss account represents the value of all work done during the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the sale have been transferred to the customer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Land and buildings
|
-
|
10% straight line
|
|
Plant and Machinery
|
-
|
20% straight line
|
|
Fixtures and Fittings
|
-
|
20% straight line
|
|
Motor Vehicles
|
-
|
20% straight line
|
|
|
|
|
|
Equipment
|
-
|
20% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are valued at the lower of cost and net realisable value, on a first-in-first-out basis, after making due allowance for obsolete and slow moving items. Cost is based on purchase price.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognized only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognized at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognized at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortized cost. Other financial instruments, including derivatives, are recognized at fair value, with any subsequent changes to fair value recognized in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
18
(2021:
21
).
5.
Tangible assets
|
Land and buildings
|
Plant and machinery
|
Fixtures and fittings
|
Motor vehicles
|
Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
|
|
At 1 Feb 2021
|
645,617
|
62,286
|
55,047
|
53,308
|
69,626
|
885,884
|
Additions
|
54,592
|
–
|
13,761
|
–
|
1,814
|
70,167
|
|
----------
|
---------
|
---------
|
---------
|
---------
|
----------
|
At 31 Jan 2022
|
700,209
|
62,286
|
68,808
|
53,308
|
71,440
|
956,051
|
|
----------
|
---------
|
---------
|
---------
|
---------
|
----------
|
Depreciation
|
|
|
|
|
|
|
At 1 Feb 2021
|
261,786
|
54,448
|
42,448
|
2,530
|
47,740
|
408,952
|
Charge for the year
|
45,804
|
2,732
|
5,825
|
10,661
|
7,888
|
72,910
|
|
----------
|
---------
|
---------
|
---------
|
---------
|
----------
|
At 31 Jan 2022
|
307,590
|
57,180
|
48,273
|
13,191
|
55,628
|
481,862
|
|
----------
|
---------
|
---------
|
---------
|
---------
|
----------
|
Carrying amount
|
|
|
|
|
|
|
At 31 Jan 2022
|
392,619
|
5,106
|
20,535
|
40,117
|
15,812
|
474,189
|
|
----------
|
---------
|
---------
|
---------
|
---------
|
----------
|
At 31 Jan 2021
|
383,831
|
7,838
|
12,599
|
50,778
|
21,886
|
476,932
|
|
----------
|
---------
|
---------
|
---------
|
---------
|
----------
|
|
|
|
|
|
|
|
6.
Debtors
|
2022
|
2021
|
|
£
|
£
|
Trade debtors
|
5,773
|
97,515
|
Other debtors
|
104,952
|
128,217
|
|
----------
|
----------
|
|
110,725
|
225,732
|
|
----------
|
----------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2022
|
2021
|
|
£
|
£
|
Bank loans and overdrafts
|
28,000
|
1,296
|
Trade creditors
|
14,506
|
23,077
|
Corporation tax
|
40,791
|
75,359
|
Social security and other taxes
|
2,821
|
3,405
|
Other creditors
|
6,103
|
4,624
|
|
---------
|
----------
|
|
92,221
|
107,761
|
|
---------
|
----------
|
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2022
|
2021
|
|
£
|
£
|
Bank loans and overdrafts
|
93,333
|
138,704
|
|
---------
|
----------
|
|
|
|
9.
Directors' advances, credits and guarantees
At the beginning of the year, the directors loan account was overdrawn by £106,532. During the year the directors repaid the company £9,062, leaving the directors loan account overdrawn by £
97,470
at the year end. This balance will be repaid within 9 months of the year end and interest is charged on the outstanding balance at 2.5% per annum.
10.
Related party transactions
The company was under the control of A and
N Mumby
during the current and previous period. No transactions with related parties subsisted during the period, such as are required to be disclosed under FRS 102 (Section 1A).