John Scott & Son (Farmers) ltd - Limited company - abbreviated - 11.9
John Scott & Son (Farmers) ltd - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 March 2015 |
| for |
| John Scott & Son (Farmers) ltd |
| John Scott & Son (Farmers) ltd (Registered number: SC295518) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 March 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| John Scott & Son (Farmers) ltd |
| Company Information |
| for the Year Ended 31 March 2015 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| BANKERS: |
| John Scott & Son (Farmers) ltd (Registered number: SC295518) |
| Abbreviated Balance Sheet |
| 31 March 2015 |
| 2014 | 2015 |
| £ | £ | Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Investments |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| ( |
) | Amounts falling due after more than one year |
4 |
( |
) |
| ( |
) | PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| John Scott & Son (Farmers) ltd (Registered number: SC295518) |
| Abbreviated Balance Sheet - continued |
| 31 March 2015 |
| 2014 | 2015 |
| £ | £ | Notes | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and Loss Account |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors on its behalf by: |
| John Scott & Son (Farmers) ltd (Registered number: SC295518) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 March 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| 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 represents net sales of milk, livestock and crop, excluding value added tax. |
| Sfp entitlements |
| SFP Entitlements, being the amount paid in connection with the transfer of a business in 2009, is |
| being amortised evenly over its estimated useful life of four years. |
| Milk quota |
| Milk Quota, being the amount paid in connection with the transfer of a business in 2009, is being |
| amortised evenly over its estimated useful life of four years. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Livestock and crop are valued at a percentage of market value, with purchased animals valued at cost. |
| Other stocks are valued at the lower of cost or net realisable value. |
| Deferred tax |
| Full provision is made for deferred tax assets and liabilities arising from all timing differences |
| between the recognition of gains and losses in the financial statements and recognition in the tax |
| computation. |
| A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will |
| be suitable taxable profits from which the future reversal of the underlying timing differences can be |
| deducted. |
| Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the |
| timing differences are expected to reverse. |
| Deferred tax assets and liabilities are not discounted. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
| over the period of the lease. |
| John Scott & Son (Farmers) ltd (Registered number: SC295518) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2015 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2014 |
| Disposals | ( |
) |
| At 31 March 2015 |
| AMORTISATION |
| At 1 April 2014 |
| Eliminated on disposal | ( |
) |
| At 31 March 2015 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2014 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2015 |
| DEPRECIATION |
| At 1 April 2014 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2015 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| John Scott & Son (Farmers) ltd (Registered number: SC295518) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2015 |
| 4. | CREDITORS - continued |
| They also include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable otherwise than by instalments | 63,981 | 63,981 |
| Repayable by instalments | 29,552 | 40,035 |
| 93,533 | 104,016 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| "A" Ordinary | £1 |
| "B" Ordinary | £1 |
| 150 | 150 |
| 6. | CONTROL |
| The directors control the company. |