REGISTERED NUMBER: 06472341 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

FOR

AW FRAMPTON & SON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A W Frampton

Mrs F M M Frampton

M O Frampton

Mrs A J Frampton

SECRETARY:

Mrs F M M Frampton

REGISTERED OFFICE:

18 High West Street

Dorchester

Dorset

DT1 1UW

REGISTERED NUMBER:

06472341 (England and Wales)

ACCOUNTANTS:

Pugsley Revill

18 High West Street

Dorchester

Dorset

DT1 1UW

FIXED ASSETS

Intangible assets

4

428,788

448,589

Tangible assets

5

4,241,196

4,228,862

4,669,984

4,677,451

CURRENT ASSETS

Stocks

389,140

323,676

Debtors

6

210,591

189,487

599,731

513,163

CREDITORS

Amounts falling due within one year

7

572,282

438,414

NET CURRENT ASSETS

27,449

74,749

TOTAL ASSETS LESS CURRENT LIABILITIES

4,697,433

4,752,200

CREDITORS

Amounts falling due after more than one year

8

(3,748,769

)

(3,914,585

)

PROVISIONS FOR LIABILITIES

10

(182,782

)

(159,333

)

NET ASSETS

765,882

678,282

CAPITAL AND RESERVES

Called up share capital

11

330

330

Retained earnings

765,552

677,952

SHAREHOLDERS' FUNDS

765,882

678,282

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 30 October 2019 and were signed on its behalf by:

A W Frampton - Director

Mrs F M M Frampton - Director

M O Frampton - Director

Mrs A J Frampton - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

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.

Leasehold property are being amortised evenly over their estimated useful life of twenty seven years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Bulk milk tank

-

15% on reducing balance

Drainage,fencing & barn

-

15% on reducing balance

New dairy & freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Tractors

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, 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 Statement of Income

and Retained Earnings, 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 balance sheet date.

Deferred tax

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

balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under

finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Leasehold

Goodwill

property

Totals

£

£

£

COST

At 1 May 2018

and 30 April 2019

22,500

504,262

526,762

AMORTISATION

At 1 May 2018

11,250

66,923

78,173

Amortisation for year

1,125

18,676

19,801

At 30 April 2019

12,375

85,599

97,974

NET BOOK VALUE

At 30 April 2019

10,125

418,663

428,788

At 30 April 2018

11,250

437,339

448,589

5.	TANGIBLE FIXED ASSETS

New dairy

Dairy

Bulk milk

Drainage,fencing

& freehold

herd

tank

& barn

property

£

£

£

£

COST

At 1 May 2018

426,140

48,522

58,213

3,298,146

Additions

15,540

-

-

41,621

At 30 April 2019

441,680

48,522

58,213

3,339,767

DEPRECIATION

At 1 May 2018

-

24,500

32,353

-

Charge for year

-

3,603

3,879

-

Eliminated on disposal

-

-

-

-

At 30 April 2019

-

28,103

36,232

-

NET BOOK VALUE

At 30 April 2019

441,680

20,419

21,981

3,339,767

At 30 April 2018

426,140

24,022

25,860

3,298,146

Fixtures

Plant and

and

Computer

machinery

fittings

Tractors

equipment

Totals

£

£

£

£

£

COST

At 1 May 2018

688,736

2,156

278,212

1,815

4,801,940

Additions

62,434

-

-

192

119,787

Disposals

(47,259

)

-

-

-

(47,259

)

At 30 April 2019

703,911

2,156

278,212

2,007

4,874,468

DEPRECIATION

At 1 May 2018

331,487

1,959

181,516

1,263

573,078

Charge for year

52,271

30

24,174

186

84,143

Eliminated on disposal

(23,949

)

-

-

-

(23,949

)

At 30 April 2019

359,809

1,989

205,690

1,449

633,272

NET BOOK VALUE

At 30 April 2019

344,102

167

72,522

558

4,241,196

At 30 April 2018

357,249

197

96,696

552

4,228,862

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Bulk milk

Plant and

tank

machinery

Tractors

Totals

£

£

£

£

COST

At 1 May 2018

41,873

373,095

142,172

557,140

Additions

-

42,528

-

42,528

At 30 April 2019

41,873

415,623

142,172

599,668

DEPRECIATION

At 1 May 2018

19,372

122,129

74,602

216,103

Charge for year

3,375

39,770

21,863

65,008

At 30 April 2019

22,747

161,899

96,465

281,111

NET BOOK VALUE

At 30 April 2019

19,126

253,724

45,707

318,557

At 30 April 2018

22,501

250,966

67,570

341,037

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

187,770

168,698

Other debtors

-

576

VAT

9,335

7,014

Prepayments and accrued income

13,486

13,199

210,591

189,487

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

281,161

158,133

Hire purchase contracts

75,909

98,365

Trade creditors

180,188

91,004

Taxation and social security

5,234

5,035

Other creditors

29,790

85,877

572,282

438,414

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

3,653,137

3,772,465

Hire purchase contracts

95,632

142,120

3,748,769

3,914,585

2019

2018

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,653,137

3,772,465

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdrafts

281,161

158,133

Bank loans

3,653,137

3,772,465

Hire purchase contracts

171,541

240,485

4,105,839

4,171,083

10.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

182,782

159,333

Deferred

tax

£

Balance at 1 May 2018

159,333

Charge for the year

23,449

Balance at 30 April 2019

182,782

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

300

Ordinary

£1

300

300

10

'A' Ordinary

£1

10

10

20

'B' Ordinary

£1

20

20

330

330

12.	TRANSACTIONS WITH DIRECTORS

The company occupies land owned by Mr AW and Mrs FMM Frampton for which rent of £25000

(2018-£25000) was paid to them in the year. No sum was outstanding at 30th April 2019 (2018-£Nil).