Eau Farm (Swaton) Limited - Accounts to registrar (filleted) - small 18.1
Eau Farm (Swaton) Limited - Accounts to registrar (filleted) - small 18.1
REGISTERED NUMBER: |
EAU FARM (SWATON) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
EAU FARM (SWATON) LIMITED (REGISTERED NUMBER: 01243835) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
EAU FARM (SWATON) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Enterprise Way |
Pinchbeck |
Spalding |
Lincolnshire |
PE11 3YR |
EAU FARM (SWATON) LIMITED (REGISTERED NUMBER: 01243835) |
STATEMENT OF FINANCIAL POSITION |
30 SEPTEMBER 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Valuation |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
EAU FARM (SWATON) LIMITED (REGISTERED NUMBER: 01243835) |
STATEMENT OF FINANCIAL POSITION - continued |
30 SEPTEMBER 2017 |
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 |
EAU FARM (SWATON) LIMITED (REGISTERED NUMBER: 01243835) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
1. | STATUTORY INFORMATION |
Eau Farm (Swaton) Limited is a |
number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises the invoiced value of crops sold and services provided during the year. Revenue is recognised at the point of |
delivery. |
The Basic farm payment is recognised in the financial statements in accordance with current H. M. Revenue & Customs guidance. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated |
amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is |
transferred to a revaluation reserve. |
Investment property is valued at directors valuation at the balance sheet date. |
Stocks |
Valuation and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing valuation to |
their present location and condition. |
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. |
EAU FARM (SWATON) LIMITED (REGISTERED NUMBER: 01243835) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 October 2016 |
and 30 September 2017 |
AMORTISATION |
At 1 October 2016 |
Charge for year |
At 30 September 2017 |
NET BOOK VALUE |
At 30 September 2017 |
At 30 September 2016 |
EAU FARM (SWATON) LIMITED (REGISTERED NUMBER: 01243835) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 October 2016 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2017 |
DEPRECIATION |
At 1 October 2016 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2017 |
NET BOOK VALUE |
At 30 September 2017 |
At 30 September 2016 |
Included in cost of land and buildings is freehold land of £ 1,036,993 (2016 - £ 578,760 ) which is not depreciated. |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 October 2016 |
and 30 September 2017 |
NET BOOK VALUE |
At 30 September 2017 |
At 30 September 2016 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2016 |
and 30 September 2017 |
NET BOOK VALUE |
At 30 September 2017 |
At 30 September 2016 |
EAU FARM (SWATON) LIMITED (REGISTERED NUMBER: 01243835) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
Ordinary A | £1 | 800 | 800 |
Ordinary B | £1 | 4,000 | 4,000 |
4,800 | 4,800 |
12. | FIRST YEAR ADOPTION |
Under previous UK GAAP the company was not required to recognise the basic payment entitlements as an intangible asset. Under |
FR102, an asset of £15,925 was recognised with a corresponding balance in deferred income. The amortisation charge in the year to 30 |
September 2017 was £3,185 with the same amount released from deferred income. |