G Gray Farms Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04938542 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2018

for

G Gray Farms Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Gray

Mrs M A Gray

REGISTERED OFFICE:

Grange Farm

Bredon

Tewkesbury

Gloucestershire

GL20 7EL

REGISTERED NUMBER:

04938542 (England and Wales)

FIXED ASSETS

Tangible assets

4

938,980

559,625

Investment property

5

415,047

415,047

1,354,027

974,672

CURRENT ASSETS

Stocks

490,920

445,333

Debtors

6

103,451

81,411

Cash at bank and in hand

181,567

220,389

775,938

747,133

CREDITORS

Amounts falling due within one year

7

37,108

56,666

NET CURRENT ASSETS

738,830

690,467

TOTAL ASSETS LESS CURRENT LIABILITIES

2,092,857

1,665,139

PROVISIONS FOR LIABILITIES

101,760

31,245

NET ASSETS

1,991,097

1,633,894

CAPITAL AND RESERVES

Called up share capital

16,000

16,000

Share premium

880,505

880,505

Fair value reserve

9

377,934

63,069

Retained earnings

716,658

674,320

SHAREHOLDERS' FUNDS

1,991,097

1,633,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 May 2019 and were signed on its behalf by:

Mr C Gray - Director

1.	STATUTORY INFORMATION

G Gray Farms Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of

Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts

for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Plant and machinery

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost (or deemed cost) and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST OR VALUATION

At 1 October 2017

403,401

423,097

826,498

Additions

-

27,410

27,410

Disposals

-

(600

)

(600

)

Revaluations

388,722

-

388,722

At 30 September 2018

792,123

449,907

1,242,030

DEPRECIATION

At 1 October 2017

-

266,873

266,873

Charge for year

-

36,725

36,725

Eliminated on disposal

-

(548

)

(548

)

At 30 September 2018

-

303,050

303,050

NET BOOK VALUE

At 30 September 2018

792,123

146,857

938,980

At 30 September 2017

403,401

156,224

559,625

Cost or valuation at 30 September 2018 is represented by:

Freehold

Plant and

property

machinery

Totals

£

£

£

Valuation in 2006

63,069

-

63,069

Valuation in 2018

388,722

-

388,722

Cost

340,332

449,907

790,239

792,123

449,907

1,242,030

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST OR VALUATION

At 1 October 2017

and 30 September 2018

86,233

DEPRECIATION

At 1 October 2017

42,082

Charge for year

8,831

At 30 September 2018

50,913

NET BOOK VALUE

At 30 September 2018

35,320

At 30 September 2017

44,151

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2017

and 30 September 2018

415,047

NET BOOK VALUE

At 30 September 2018

415,047

At 30 September 2017

415,047

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

24,166

5,156

Amounts owed by group undertakings

-

5,089

Other debtors

79,285

71,166

103,451

81,411

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts (see note 8)

-

2,006

Trade creditors

21,675

37,780

Corporation tax

586

-

Social security and other taxes

3,202

2,870

Other creditors

2,275

4,452

Net Wages Control

309

497

Directors' current accounts

1,805

1,805

Accruals and deferred income

7,256

7,256

37,108

56,666

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2018

2017

£

£

Net obligations repayable:

Within one year

-

2,006

Non-cancellable operating

leases

2018

2017

£

£

Within one year

-

828

Between one and five years

18,000

24,000

18,000

24,828

9.

RESERVES

Fair

value

reserve

£

At 1 October 2017

63,069

Revaluation

388,722

Fair value

(73,857

)

At 30 September 2018

377,934

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Gray Investments (Holdings)Limited.