Annakin Farms Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03383182 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

ANNAKIN FARMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors' Responsibilities Statement

7

Independent Chartered Accountant's Review Report

8

DIRECTORS:

M W Annakin

D W Annakin

J R Annakin

Mrs M A Annakin

SECRETARY:

M W Annakin

REGISTERED OFFICE:

Top Farm

Stainfield

Lincoln

Lincolnshire

LN8 5JL

REGISTERED NUMBER:

03383182 (England and Wales)

ACCOUNTANT:

R P Ellis

Chartered Accountant

414 Newark Road

Lincoln

Lincolnshire

LN6 8RX

FIXED ASSETS

Tangible assets

4

4,488,385

3,454,453

CURRENT ASSETS

Stocks

17,100

15,200

Debtors

5

726,104

719,639

Cash at bank

36,920

1,165,385

780,124

1,900,224

CREDITORS

Amounts falling due within one year

6

584,792

746,689

NET CURRENT ASSETS

195,332

1,153,535

TOTAL ASSETS LESS CURRENT LIABILITIES

4,683,717

4,607,988

CREDITORS

Amounts falling due after more than one year

7

(2,952,630

)

(3,052,332

)

PROVISIONS FOR LIABILITIES

(205,077

)

(196,855

)

NET ASSETS

1,526,010

1,358,801

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,525,910

1,358,701

SHAREHOLDERS' FUNDS

1,526,010

1,358,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement 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:

M W Annakin - Director

1.	STATUTORY INFORMATION

Annakin Farms 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.

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 etc

-

25% on cost, 20% on cost and at varying rates on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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 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 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.

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 11 (2018 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

2,655,133

2,794,800

5,449,933

Additions

109,385

1,440,458

1,549,843

Grants

(167,832

)

-

(167,832

)

At 31 March 2019

2,596,686

4,235,258

6,831,944

DEPRECIATION

At 1 April 2018

588,905

1,406,575

1,995,480

Charge for year

37,872

310,207

348,079

At 31 March 2019

626,777

1,716,782

2,343,559

NET BOOK VALUE

At 31 March 2019

1,969,909

2,518,476

4,488,385

At 31 March 2018

2,066,228

1,388,225

3,454,453

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

546,596

598,204

Other debtors

179,508

121,435

726,104

719,639

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

342,950

342,950

Trade creditors

47,864

26,340

Taxation and social security

27,436

33,781

Other creditors

166,542

343,618

584,792

746,689

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans

2,952,630

3,052,332

Amounts falling due in more than five years:

Repayable by instalments

AMC bank loan

1,580,829

1,680,531

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank loans

3,295,580

3,395,282

9.	CAPITAL COMMITMENTS

31.3.19

31.3.18

£

£

Contracted but not provided for in the

financial statements

90,000

90,000

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-	prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2019 and of its profit for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

ON BEHALF OF THE BOARD:

M W Annakin - Director

30 October 2019

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

I have reviewed the financial statements of Annakin Farms Limited for the year ended 31 March 2019, which comprise the Income Statement, Balance Sheet and the related notes 1 to 8. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with my terms of engagement. My review has been undertaken so that I might state to the directors those matters that I have agreed with them in my engagement letter and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's directors as a body for my work, for this report or the conclusions I have formed.

Directors' responsibility for the financial statements

As explained more fully in the Directors' Responsibilities Statement set out on page seven, the directors are responsible

for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountant's responsibility

My responsibility is to express a conclusion based on my review of the financial statements. I conducted my review in

accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review

historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on

historical financial statements'. ISRE 2400 also requires me to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. I have

performed additional procedures to those required under a compilation engagement. These primarily consist of making

enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the

evidence obtained. The procedures performed in a review are substantially less than those performed in an audit

conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, I do not express an

audit opinion on these financial statements.

Conclusion

Based on my review, nothing has come to my attention that causes me to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 31 March 2019 and of its profit for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	in accordance with the requirements of the Companies Act 2006.

R P Ellis

Chartered Accountant

414 Newark Road

Lincoln

Lincolnshire

LN6 8RX

30 October 2019