Tewin Hill Farm Limited - Accounts to registrar (filleted) - small 18.1
Tewin Hill Farm Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2017 |
| for |
| Tewin Hill Farm Limited |
| Tewin Hill Farm Limited (Registered number: 04078080) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Tewin Hill Farm Limited |
| Company Information |
| for the Year Ended 30 September 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 1st Floor Bridge House |
| 25 Fiddlebridge Lane |
| Hatfield |
| Hertfordshire |
| AL10 0SP |
| Tewin Hill Farm Limited (Registered number: 04078080) |
| Balance Sheet |
| 30 September 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| 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 behalf by: |
| Tewin Hill Farm Limited (Registered number: 04078080) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2017 |
| 1. | STATUTORY INFORMATION |
| Tewin Hill Farm Limited is a |
| 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 |
| This is the first year in which the financial statements have been prepared under FRS102. The |
| company has evaluated the impact of the new accounting standard and determined that its application |
| would not result in a material adjustment to the results reported previously; consequently, the results |
| reported previously have not been restated. |
| The functional currency of the company is sterling. |
| Turnover |
| Turnover represents net invoiced sales of goods and services. Stabling and livery income is |
| recognised as it arises, rental income is recognised evenly over the period of occupation, and income |
| from farm produce is recognised as sales are made, which is normally when the items in question are |
| collected or delivered. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Taxation |
| The income tax expense is the aggregate of tax currently payable and deferred tax. |
| The tax currently payable is based on the taxable profits of the year. Taxable profits differ from the |
| profits reported in the statement of comprehensive income because of (a) items of income or expense |
| that are taxable or deductible in other years and (b) items that are never taxable or deductible. The |
| company's liability for current tax is calculated using tax rates that have been enacted or substantively |
| enacted by the end of the reporting period. |
| Deferred tax is recognised on timing differences that have originated but not reversed by the balance |
| sheet date. Typically, timing differences arise when tax relief is claimed in one period but the related |
| expenditure is charged to profit in another period. Deferred tax assets and liabilities are recorded at the |
| tax rates that are expected to apply in the period in which the liability is settled, based on tax rates (and |
| tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
| Operating leases |
| Operating lease payments are recognised as an expense on a straight-line basis over the lease term, |
| except where another systematic basis is more representative of the time pattern in which economic |
| benefits from the leased asset are consumed. |
| Tewin Hill Farm Limited (Registered number: 04078080) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Employee benefits |
| Short-term employee benefits are recognised as expenses in the period in which they are incurred. |
| Obligations for contributions to defined contribution schemes are recognised as expenses in the period |
| in which they are incurred. The assets of these schemes are held separately from those of the |
| company in independently administered funds. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | 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 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Tewin Hill Farm Limited (Registered number: 04078080) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| 8. | RELATED PARTY DISCLOSURES |
| The Company is controlled by the directors, Messrs A, B and T Hill. |
| During the year the Company: |
| i) paid dividends of £30,000 (2016: £30,000) to its shareholders |
| ii) paid remuneration of £7,680 (2016: £7,293) to one of the directors |
| iii) paid rent of £29,400(2016: £28,200) to one of the directors for buildings which it then let to unconnected parties at a profit; and |
| iv) borrowed £3,025 from (2016: £21,086) the directors. |
| At the balance sheet date, the Company owed £30,793 (2016: £27,768) to the directors; no terms have been set as to payment of interest on this loan or the repayment of capital. |