AW Frampton & Son Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06472341 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

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

15,750

16,875

Tangible assets

3

1,638,954

579,571

1,654,704

596,446

CURRENT ASSETS

Stocks

182,550

181,700

Debtors

189,631

104,969

Cash at bank

1,973

-

374,154

286,669

CREDITORS

Amounts falling due within one year

4

379,947

408,242

NET CURRENT LIABILITIES

(5,793

)

(121,573

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,648,911

474,873

CREDITORS

Amounts falling due after more than one year

4

(1,110,976

)

(128,967

)

PROVISIONS FOR LIABILITIES

(83,375

)

(30,007

)

NET ASSETS

454,560

315,899

CAPITAL AND RESERVES

Called up share capital

5

330

330

Profit and loss account

454,230

315,569

SHAREHOLDERS' FUNDS

454,560

315,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 2 September 2014 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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over

the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

and 30 April 2014

22,500

AMORTISATION

At 1 May 2013

5,625

Amortisation for year

1,125

At 30 April 2014

6,750

NET BOOK VALUE

At 30 April 2014

15,750

At 30 April 2013

16,875

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

790,329

Additions

1,123,569

Disposals

(22,000

)

At 30 April 2014

1,891,898

DEPRECIATION

At 1 May 2013

210,758

Charge for year

58,686

Eliminated on disposal

(16,500

)

At 30 April 2014

252,944

NET BOOK VALUE

At 30 April 2014

1,638,954

At 30 April 2013

579,571

4.

CREDITORS

Creditors include an amount of £ 1,141,158 (2013 - £ 292,644 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

300

Ordinary

£1

300

300

10

'A' Ordinary

£1

10

10

20

'B' Ordinary

£1

20

20

330

330

6.	TRANSACTIONS WITH DIRECTORS