Souths Farming Limited - Accounts to registrar (filleted) - small 18.2

Souths Farming Limited - Accounts to registrar (filleted) - small 18.2

SOUTHS FARMING LIMITED - Company Information

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REGISTERED NUMBER: 06711654 (England and Wales)















SOUTHS FARMING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2019






SOUTHS FARMING LIMITED (REGISTERED NUMBER: 06711654)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2019




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

SOUTHS FARMING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2019







DIRECTORS: R C South
Mrs S A South





SECRETARY: Mrs S A South





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: Priory Farm
Thorpe Tilney
Lincolnshire
LN4 3SL





REGISTERED NUMBER: 06711654 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ
Page 1
SOUTHS FARMING LIMITED (REGISTERED NUMBER: 06711654)

STATEMENT OF FINANCIAL POSITION
30TH SEPTEMBER 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,955 3,673
2,955 3,673

CURRENT ASSETS
Debtors 6 9,661 9,923
Cash at bank - 1,126
9,661 11,049
CREDITORS
Amounts falling due within one year 7 14,255 14,993
NET CURRENT LIABILITIES (4,594 ) (3,944 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,639 ) (271 )

PROVISIONS FOR LIABILITIES 194 292
NET LIABILITIES (1,833 ) (563 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (1,933 ) (663 )
SHAREHOLDERS' FUNDS (1,833 ) (563 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 notes form part of these financial statements

Page 2 continued...
SOUTHS FARMING LIMITED (REGISTERED NUMBER: 06711654)

STATEMENT OF FINANCIAL POSITION - continued
30TH SEPTEMBER 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue
on 29th June 2020 and were signed on its behalf by:





R C South - Director


The notes form part of these financial statements

Page 3
SOUTHS FARMING LIMITED (REGISTERED NUMBER: 06711654)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2019

1. STATUTORY INFORMATION

Souths Farming 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been amortised
evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 20% on reducing balance and 15% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

Going concern
At the balance sheet date the company is showing net liabilities. However the directors continue to support
the company. The directors have signified their willingness to continue this support and on this basis the
accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

Page 4 continued...
SOUTHS FARMING LIMITED (REGISTERED NUMBER: 06711654)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2019

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st October 2018
and 30th September 2019 2,000
AMORTISATION
At 1st October 2018
and 30th September 2019 2,000
NET BOOK VALUE
At 30th September 2019 -
At 30th September 2018 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2018
and 30th September 2019 24,650
DEPRECIATION
At 1st October 2018 20,977
Charge for year 718
At 30th September 2019 21,695
NET BOOK VALUE
At 30th September 2019 2,955
At 30th September 2018 3,673

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 9,118 9,118
Other debtors 543 805
9,661 9,923

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Other creditors 14,255 14,993

Page 5 continued...
SOUTHS FARMING LIMITED (REGISTERED NUMBER: 06711654)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2019

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
100 Ordinary £1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed the directors £13,601 (2018 - (£14,339). These loans are
unsecured, interest free and repayable on demand.

Page 6
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SOUTHS FARMING LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary
statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Souths Farming Limited for the year ended 30th September 2019 which comprise the Income
Statement, Statement of Financial Position and the related notes from the company's accounting records and from
information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Souths Farming Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Souths Farming Limited and state those matters that we have agreed to state to the Board of Directors of Souths Farming Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Souths Farming Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Souths Farming Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Souths Farming Limited. You consider that Souths Farming Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Souths Farming Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


Date: .............................................

This page does not form part of the statutory financial statements

Page 7