AW Frampton & Son Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06472341 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

FOR

AW FRAMPTON & SON LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A W Frampton

Mrs F M M Frampton

M O Frampton

SECRETARY:

Mrs F M M Frampton

REGISTERED OFFICE:

18 High West Street

Dorchester

Dorset

DT1 1UW

REGISTERED NUMBER:

06472341 (England and Wales)

ACCOUNTANTS:

Pugsley Revill

18 High West Street

Dorchester

Dorset

DT1 1UW

FIXED ASSETS

Intangible assets

2

507,992

15,750

Tangible assets

3

2,721,413

1,638,954

3,229,405

1,654,704

CURRENT ASSETS

Stocks

172,365

182,550

Debtors

213,483

189,631

Cash at bank

-

1,973

385,848

374,154

CREDITORS

Amounts falling due within one year

4

630,574

379,947

NET CURRENT LIABILITIES

(244,726

)

(5,793

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,984,679

1,648,911

CREDITORS

Amounts falling due after more than one year

4

(2,316,960

)

(1,110,976

)

PROVISIONS FOR LIABILITIES

(117,467

)

(83,375

)

NET ASSETS

550,252

454,560

CAPITAL AND RESERVES

Called up share capital

5

330

330

Profit and loss account

549,922

454,230

SHAREHOLDERS' FUNDS

550,252

454,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 19 January 2016 and were signed on its behalf by:

A W Frampton - Director

Mrs F M M Frampton - Director

M O Frampton - Director

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 invoiced sales of goods, excluding value added tax.

Goodwill

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Bulk milk tank

-

15% on reducing balance

Drainage scheme and fencing

-

15% on reducing balance

New dairy,log cabin & caravan

-

not provided

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Tractors

-

25% on reducing balance

Computer equipment

-

25% 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 recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

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 the profit and loss account over the relevant period.

The capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

22,500

Additions

504,262

At 30 April 2015

526,762

AMORTISATION

At 1 May 2014

6,750

Amortisation for year

12,020

At 30 April 2015

18,770

NET BOOK VALUE

At 30 April 2015

507,992

At 30 April 2014

15,750

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

1,891,898

Additions

1,146,782

At 30 April 2015

3,038,680

DEPRECIATION

At 1 May 2014

252,944

Charge for year

64,323

At 30 April 2015

317,267

NET BOOK VALUE

At 30 April 2015

2,721,413

At 30 April 2014

1,638,954

4.

CREDITORS

Creditors include an amount of £ 2,629,760 (2014 - £ 1,141,158 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

1,549,664

-

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

300

Ordinary

£1

300

300

10

'A' Ordinary

£1

10

10

20

'B' Ordinary

£1

20

20

330

330

6.	TRANSACTIONS WITH DIRECTORS

7.	POST BALANCE SHEET EVENTS

The company purchased land at Owermoigne,Dorchester on 30th July 2015 at a cost of £605539.