Woodbank Farms Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC158476 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 January 2015

for

Woodbank Farms Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A W Clark

G Clark

A S Clark

SECRETARY:

A W Clark

REGISTERED OFFICE:

Woodbank

Windygates

Fife

KY8 5RU

REGISTERED NUMBER:

SC158476 (Scotland)

ACCOUNTANTS:

Campbell Dallas LLP

Chartered Accountants

4 Atholl Crescent

Perth

Perthshire

PH1 5NG

BANKERS:

Royal Bank of Scotland

Durie Street

Leven

KY8 4EW

FIXED ASSETS

Tangible assets

2

14,596

-

CURRENT ASSETS

Stocks

186,873

-

Debtors

541,133

850,695

Cash at bank

163

63

728,169

850,758

CREDITORS

Amounts falling due within one year

21,538

19,749

NET CURRENT ASSETS

706,631

831,009

TOTAL ASSETS LESS CURRENT LIABILITIES

721,227

831,009

CAPITAL AND RESERVES

Called up share capital

3

358,000

358,000

Profit and loss account

363,227

473,009

SHAREHOLDERS' FUNDS

721,227

831,009

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 October 2015 and were signed on its behalf by:

A W Clark - Director

G Clark - Director

A S Clark - Director

1.	ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with

the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover comprises the invoiced value of goods supplied by the company, exclusive of Value Added Tax

and trade discounts.

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

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is provided at the average rates that are expected to apply when the timing differences

reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising

from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and

liabilities are not discounted. Deferred tax assets are recognised only to the extent that they will be

realised.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

17,172

At 31 January 2015

17,172

DEPRECIATION

Charge for year

2,576

At 31 January 2015

2,576

NET BOOK VALUE

At 31 January 2015

14,596

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

358,000

Ordinary

£1

358,000

358,000