Birdcombe Farm Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00409003

BIRDCOMBE FARM LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

110,324

Tangible assets

3

792,129

491,812

902,453

602,136

CURRENT ASSETS

Stocks

60,075

71,851

Debtors

45,154

32,113

Investments

70,647

62,647

Cash at bank

63,616

42,067

239,492

208,678

CREDITORS

Amounts falling due within one year

4

291,906

243,163

NET CURRENT LIABILITIES

(52,414

)

(34,485

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

850,039

567,651

CREDITORS

Amounts falling due after more than
one year

4

324,939

46,551

NET ASSETS

525,100

521,100

CAPITAL AND RESERVES

Called up share capital

5

20,000

Share premium

69,436

Profit and loss account

435,664

431,664

SHAREHOLDERS' FUNDS

525,100

521,100

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 29 September 2016 and were
signed on its behalf by:

Mr P Wyatt - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors have a reasonable expectation that the company has access to adequate funding, as

well as the ongoing support of its director for it to continue trading for the foreseeable future. the

company has bank borrowings in the form of a loan and an overdraft facility within which it

operates. The directors are not aware of any reason why the loan and overdraft facility might be

withdrawn. As a result of this, the director continues to adopt the going concern basis of

accounting.

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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.

Freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance and 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

110,324

NET BOOK VALUE

At 31 December 2015

110,324

At 31 December 2014

110,324

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

733,101

Additions

333,845

Disposals

(22,550

)

At 31 December 2015

1,044,396

DEPRECIATION

At 1 January 2015

241,289

Charge for year

17,236

Eliminated on disposal

(6,258

)

At 31 December 2015

252,267

NET BOOK VALUE

At 31 December 2015

792,129

At 31 December 2014

491,812

4.

CREDITORS

Creditors include an amount of £ 473,607 (2014 - £ 148,369 ) for which security has been given.

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

2015

2014

£

Repayable by instalments

266,057

9,084

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

20,000

Ordinary

£1

20,000