Emerald Crops Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06689642 (England and Wales)

EMERALD CROPS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

C R Topper

R D Brown-McKeen

P R Branfield

Mrs A J Branfield

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

06689642 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BANKERS:

National Westminster Bank plc

1 Market Place

Newark

Nottinghamshire

NG24 1DY

FIXED ASSETS

Tangible assets

4

28,314

8,146

Investments

5

3,000

3,000

31,314

11,146

CURRENT ASSETS

Valuation

206,565

143,602

Debtors

6

558,792

881,841

Cash at bank

306,237

379,330

1,071,594

1,404,773

CREDITORS

Amounts falling due within one year

7

579,466

1,024,635

NET CURRENT ASSETS

492,128

380,138

TOTAL ASSETS LESS CURRENT LIABILITIES

523,442

391,284

PROVISIONS FOR LIABILITIES

5,483

1,630

NET ASSETS

517,959

389,654

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

517,859

389,554

SHAREHOLDERS' FUNDS

517,959

389,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 September 2017 and were signed on its behalf by:

C R Topper - Director

1.	STATUTORY INFORMATION

Emerald Crops Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the fair value of net invoiced sales of produce and commissions, excluding value added

tax. Revenue from the sale of produce is recognised on despatch and related commissions are recognised in

the same period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Plant and machinery - 25% straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and fair value less cost to sell, after making due allowance for obsolete

and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss in the period to which they relate.

Fixed asset investments

The company's interest in the capital of associated undertakings is recognised at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

14,788

Additions

25,043

At 31 March 2017

39,831

DEPRECIATION

At 1 April 2016

6,642

Charge for year

4,875

At 31 March 2017

11,517

NET BOOK VALUE

At 31 March 2017

28,314

At 31 March 2016

8,146

5.	FIXED ASSET INVESTMENTS

Shares in

participating

interests

£

COST

At 1 April 2016

and 31 March 2017

3,000

NET BOOK VALUE

At 31 March 2017

3,000

At 31 March 2016

3,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

537,364

796,949

Other debtors

-

66,808

Prepayments and accrued income

21,428

18,084

558,792

881,841

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

530,380

956,541

Tax

30,130

61,338

Social security and other taxes

14,039

3,590

Other creditors

315

716

Accrued expenses

4,602

2,450

579,466

1,024,635

8.	RELATED PARTY DISCLOSURES

During the year the year the following transactions took place with a company which owns 80% of the issued

share capital in the company:

Period

1/1/15

Year ended

to

31/3/17

31/3/16

£

£

Loans to the company:

320,000

1,850,000

Remuneration paid to the directors during the year was £148,169 (2016: £164,594)