Abbreviated Company Accounts - SUFFOLK MUSHROOMS LIMITED

SUFFOLK MUSHROOMS UNLIMITED - Company Information

07071393 SUFFOLK MUSHROOMS LIMITED 2016-10-31 false 2015-11-01 2016-10-31 true 07071393 2015-11-01 2016-10-31 07071393 2016-10-31 07071393 2015-10-31 07071393 uk-gaap-cd-bus:Director1 2015-11-01 2016-10-31 07071393 uk-gaap-cd-bus:Director2 2015-11-01 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-11-01 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 iso4217:GBP shares

Registered Number 07071393

SUFFOLK MUSHROOMS LIMITED

Abbreviated Accounts

31 October 2016

SUFFOLK MUSHROOMS LIMITED Registered Number 07071393

Abbreviated Balance Sheet as at 31 October 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Tangible assets	2	1,345,205	1,423,293
		1,345,205	1,423,293
Current assets
Stocks		318,893	248,712
Debtors	3	358,359	222,480
Cash at bank and in hand		518,380	353,978
		1,195,632	825,170
Creditors: amounts falling due within one year		(2,862,326)	(2,734,270)
Net current assets (liabilities)		(1,666,694)	(1,909,100)
Total assets less current liabilities		(321,489)	(485,807)
Provisions for liabilities		(130,992)	(57,821)
Total net assets (liabilities)		(452,481)	(543,628)
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		(452,581)	(543,728)
Shareholders' funds		(452,481)	(543,628)

For the year ending 31 October 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 3 April 2017

And signed on their behalf by:
Alan Walsh, Director

SUFFOLK MUSHROOMS LIMITED Registered Number 07071393

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

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Companies Act 2016. The preperation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates.

Turnover policy
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
company and the revenue can be reliably measured. Revenue is measured as the fair value of the
consideration received or receivable, excluding discounts, rebates, value added tax and other sales
taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
 the company has transferred the significant risks and rewards of ownership to the buyer;
 the company retains neither continuing managerial involvement to the degree usually
associated with ownership nor effective control over the goods sold;
 the amount of revenue can be measured reliably;
 it is probable that the company will receive the consideration due under the transaction; and
 the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible assets depreciation policy
Depreciation is charged so as to allocate the cost of assets less their residual value over their
estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Plant and machinery - 12.5% / 20% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted
prospectively if appropriate, or if there is an indication of a significant change since the last reporting
date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in the Statement of Income and Retained Earnings.

2Tangible fixed assets

	£
Cost
At 1 November 2015	2,448,108
Additions	292,023
Disposals	(7,750)
Revaluations	-
Transfers	-
At 31 October 2016	2,732,381
Depreciation
At 1 November 2015	1,024,815
Charge for the year	365,267
On disposals	(2,906)
At 31 October 2016	1,387,176
Net book values
At 31 October 2016	1,345,205
At 31 October 2015	1,423,293

3Debtors

	2016 £	2015 £
Debtors include the following amounts due after more than one year	358,359	222,480

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100