F_&_N_PRODUCE_LTD - Accounts

F. & N. PRODUCE LIMITED - Company Information

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Company Registration No. SC036128 (Scotland)

F & N PRODUCE LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

F & N PRODUCE LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

F & N PRODUCE LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

39,277

39,918

Current assets

Debtors

1,006

535

Investments

2,692

2,652

Cash at bank and in hand

69,529

74,708

73,227

77,895

Creditors: amounts falling due within one year

(7,418)

(17,319)

Net current assets

65,809

60,576

Total assets less current liabilities

105,086

100,494

Capital and reserves

Called up share capital

3,225

Profit and loss account

101,861

97,269

Shareholders' funds

105,086

100,494

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 22 December 2015

Roy G Farquharson

Director

Company Registration No. SC036128

F & N PRODUCE LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Heritable property

Nil

Plant and machinery

10% per annum reducing balance

Tractors

25% per annum reducing balance

No further depreciation has been provided on heritable property as it is the company's policy to maintain these so as to extend their useful lives indefinitely.

1.4

Investments

Current asset investments are stated at the lower of cost and net realisable value.

Fixed assets

Tangible assets

Cost

At 1 April 2014 & at 31 March 2015

155,277

Depreciation

At 1 April 2014

115,359

Charge for the year

641

At 31 March 2015

116,000

Net book value

At 31 March 2015

39,277

At 31 March 2014

39,918

F & N PRODUCE LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

3,225 Ordinary shares of £1 each

3,225