Croston Corn Mill Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01792787 (England and Wales)

CROSTON CORN MILL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M S Greenwood

Mrs K E Greenwood

SECRETARY:

Mrs K E Greenwood

REGISTERED OFFICE:

Grape Lane

Croston

Leyland

Lancashire

PR26 9HB

REGISTERED NUMBER:

01792787 (England and Wales)

ACCOUNTANTS:

Rushtons

Chartered Accountants

Shorrock House

1 Faraday Court

Fulwood

Preston

Lancashire

PR2 9NB

BANKERS:

Santander UK plc

250 Stanley Road

Bootle

Merseyside

L20 3PQ

FIXED ASSETS

Tangible assets

4

32,110

30,233

CURRENT ASSETS

Stocks

424,830

446,338

Debtors

111,076

144,005

Cash at bank and in hand

436,029

204,411

971,935

794,754

CREDITORS

Amounts falling due within one year

462,974

470,563

NET CURRENT ASSETS

508,961

324,191

TOTAL ASSETS LESS CURRENT LIABILITIES

541,071

354,424

PROVISIONS FOR LIABILITIES

4,038

3,487

NET ASSETS

537,033

350,937

CAPITAL AND RESERVES

Called up share capital

59

59

Retained earnings

536,974

350,878

SHAREHOLDERS' FUNDS

537,033

350,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 5 December 2019 and were signed on its behalf by:

Mr M S Greenwood - Director

1.	STATUTORY INFORMATION

Croston Corn Mill Limited 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.

The financial statements are prepared in sterling, which is the functional currency of the

company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover represents net invoiced value of goods supplied, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

10% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of 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.

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 21 (2018 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2018

213,217

Additions

10,708

Disposals

(18,645

)

At 31 July 2019

205,280

DEPRECIATION

At 1 August 2018

182,984

Charge for year

6,744

Eliminated on disposal

(16,558

)

At 31 July 2019

173,170

NET BOOK VALUE

At 31 July 2019

32,110

At 31 July 2018

30,233

5.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdraft

-

71,291

6.	ULTIMATE CONTROLLING PARTY