J A Earle (Farms) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03160768 (England and Wales)

Financial Statements for the Year Ended 30 April 2020

for

J A EARLE (FARMS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J A Earle

SECRETARY:

H L Johnson

REGISTERED OFFICE:

Bolton Grange

Bolton-on-Swale

RICHMOND

North Yorkshire

DL10 6AH

REGISTERED NUMBER:

03160768 (England and Wales)

ACCOUNTANTS:

King Hope

Chartered Accountants

31-33 Victoria Road

Darlington

Co. Durham

DL1 5SB

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

26,709

35,002

26,710

35,003

CURRENT ASSETS

Stocks

57,697

55,817

Debtors

6

10,811

15,560

Cash at bank and in hand

195,119

188,300

263,627

259,677

CREDITORS

Amounts falling due within one year

7

15,580

23,885

NET CURRENT ASSETS

248,047

235,792

TOTAL ASSETS LESS CURRENT LIABILITIES

274,757

270,795

PROVISIONS FOR LIABILITIES

5,075

6,646

NET ASSETS

269,682

264,149

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Share premium

154,311

154,311

Retained earnings

15,371

9,838

SHAREHOLDERS' FUNDS

269,682

264,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 2 November 2020 and were signed by:

J A Earle - Director

1.	STATUTORY INFORMATION

J A Earle (Farms) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Farm Tenancies were amortised evenly over their estimated useful life.

Tangible fixed assets

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

Farm improvements

-

10% on cost

Machinery and vehicles

-

25% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Farm

Tenancies

£

COST OR VALUATION

At 1 May 2019

and 30 April 2020

98,000

AMORTISATION

At 1 May 2019

and 30 April 2020

97,999

NET BOOK VALUE

At 30 April 2020

1

At 30 April 2019

1

Cost or valuation at 30 April 2020 is represented by:

Farm

Tenancies

£

Valuation in 1996

98,000

5.	TANGIBLE FIXED ASSETS

Machinery

Farm

and

improvements

vehicles

Totals

£

£

£

COST

At 1 May 2019

9,438

171,453

180,891

Additions

-

521

521

At 30 April 2020

9,438

171,974

181,412

DEPRECIATION

At 1 May 2019

9,437

136,452

145,889

Charge for year

-

8,814

8,814

At 30 April 2020

9,437

145,266

154,703

NET BOOK VALUE

At 30 April 2020

1

26,708

26,709

At 30 April 2019

1

35,001

35,002

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Debtors and prepayments

10,811

15,560

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

2,583

2,923

Tax

3,619

12,582

Social security and other taxes

1,226

1,346

Directors' current accounts

4,997

4,654

Accrued expenses

3,155

2,380

15,580

23,885