WRACKLEFORD_FARMS_LIMITED - Accounts

WRACKLEFORD FARMS LIMITED - Company Information

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Company Registration No. 00708829 (England and Wales)

WRACKLEFORD FARMS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

WRACKLEFORD FARMS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

WRACKLEFORD FARMS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

305,257

354,965

Investments

305,257

354,966

Current assets

Stocks

313,303

313,047

Debtors

102,724

94,102

Cash at bank and in hand

16,567

43,244

432,594

450,393

Creditors: amounts falling due within one year

(332,305)

(233,117)

Net current assets

100,289

217,276

Total assets less current liabilities

405,546

572,242

Creditors: amounts falling due after more than one year

(8,275)

(37,147)

Provisions for liabilities

(6,000)

(20,242)

391,271

514,853

Capital and reserves

Called up share capital

25,000

Profit and loss account

366,271

489,853

Shareholders' funds

391,271

514,853

WRACKLEFORD FARMS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2016

- 2 -

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 16 June 2017

Mr T C R Pope

Director

Company Registration No. 00708829

WRACKLEFORD FARMS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The herd is recognised on the balance sheet using the herd basis, in line with the tax treatment of Section 109 of the Corporation Tax 2009, which is a departure from the Companies Act 2006.

1.2

Turnover

The turnover and profit before taxation are attributable to the one principal activity of the company, and include transfers to the herd account at the cost of rearing and the profit or loss on replacement of herd animals.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Long leasehold land and buildings

5% straight line basis

Plant and machinery

Variable rates on a reducing balance basis

Office equipment

33% reducing balance basis

Motor vehicles

25% reducing balance basis

1.4

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Stock

Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with HM Revenue & Customs guidance HS232.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

WRACKLEFORD FARMS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 October 2015

992,726

992,728

Additions

13,840

Disposals

(7,105)

(1)

(7,106)

At 30 September 2016

999,461

999,462

Depreciation

At 1 October 2015

637,759

637,760

Charge for the year

56,445

At 30 September 2016

694,204

694,205

Net book value

At 30 September 2016

305,257

At 30 September 2015

354,966

354,967

Share capital

2016

2015

Allotted, called up and fully paid

25,000 Ordinary of £1 each

25,000