Abbreviated Company Accounts - PUSEY FARMING LIMITED

Registered Number 08293476

PUSEY FARMING LIMITED

Abbreviated Accounts

31 March 2016

PUSEY FARMING LIMITED Registered Number 08293476

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets		-	-
Tangible assets	2	84,272	64,726
		84,272	64,726
Current assets
Stocks		123,708	165,283
Debtors		8,160	9,976
Cash at bank and in hand		24,219	10,705
		156,087	185,964
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year		(467,094)	(422,928)
Net current assets (liabilities)		(311,007)	(236,964)
Total assets less current liabilities		(226,735)	(172,238)
Creditors: amounts falling due after more than one year		0	0
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		(226,735)	(172,238)
Capital and reserves
Called up share capital		2	2
Share premium account		0	0
Revaluation reserve		0	0
Other reserves		0	0
Profit and loss account		(226,737)	(172,240)
Shareholders' funds		(226,735)	(172,238)

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 10 October 2016

And signed on their behalf by:
Richard Cal Perlhagen, Director

PUSEY FARMING LIMITED Registered Number 08293476

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

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

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc. - 25% on reducing balance and 15% on reducing balance.

Valuation information and policy
Stocks have been valued in accordance with current RICS and CAAV guidance. HMRC helpsheet HS232 titled "Farm Stock Valuation" (previously BEN19) and Statement of Standard of Accounting Practice 9 (SSAP9) issued by the Accounting Standards Board.

Consumable stock of seed, fertiliser, sprays, fuel and sundry stores are valued at invoice price, or, market value if lower.

Growing crops have been valued on a costs of production basis to year end.

Livestock is valued on flock basis at purchase price, homebred stock valued at 75% market value.

Other accounting policies
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
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

2Tangible fixed assets

	£
Cost
At 1 April 2015	83,293
Additions	27,890
Disposals	0
Revaluations	0
Transfers	0
At 31 March 2016	111,183
Depreciation
At 1 April 2015	18,567
Charge for the year	8,344
On disposals	0
At 31 March 2016	26,911
Net book values
At 31 March 2016	84,272
At 31 March 2015	64,726

The net book value of fixed assets includes £45,740 cattle treated on a herd basis.