Lower Cholwell Farm Limited - Accounts to registrar (filleted) - small 18.2
Lower Cholwell Farm Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
| FOR |
| Lower Cholwell Farm Limited |
| Lower Cholwell Farm Limited (Registered number: 00820342) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 September 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Lower Cholwell Farm Limited |
| COMPANY INFORMATION |
| for the year ended 30 September 2019 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| 129 North Hill |
| Plymouth |
| Devon |
| PL4 8JY |
| Solicitors: |
| 2 Vaughan Parade |
| Torquay |
| Devon |
| TQ2 5EF |
| Lower Cholwell Farm Limited (Registered number: 00820342) |
| BALANCE SHEET |
| 30 September 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital | 7 |
| Retained earnings |
| Shareholders' funds |
| Lower Cholwell Farm Limited (Registered number: 00820342) |
| BALANCE SHEET - continued |
| 30 September 2019 |
| 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 Profit and loss account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Lower Cholwell Farm Limited (Registered number: 00820342) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 September 2019 |
| 1. | STATUTORY INFORMATION |
| Lower Cholwell Farm Limited is a |
| 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 |
| Turnover |
| Turnover represents amounts receivable in respect of farming sales, subsidies and grass |
| keep net of value added tax. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Freehold buildings are not depreciated as the directors believe the realisable value to be well |
| in excess of the historical cost. |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Cost of stock is ascertained |
| from selling prices less a fixed percentage reduction relevant to each stock type. Net |
| realisable value represents estimated selling price less costs required to resell. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and |
| loss account, 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. |
| Lower Cholwell Farm Limited (Registered number: 00820342) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 September 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Debtors |
| Short term debtors are measured at transaction price (which is usually the invoice price), |
| less any impairment losses for bad and doubtful debts. Loans and other financial assets are |
| initially recognised at transaction price including any transaction costs and subsequently |
| measured at amortised cost determined using the effective interest method, less any |
| impairment losses for bad and doubtful debts. |
| Creditors |
| Short term creditors are measured at transaction price (which is usually the invoice price). |
| Loans and other financial liabilities are initially recognised at transaction price net of any |
| transaction costs and subsequently measured at amortised cost determined using the |
| effective interest method. |
| Provisions |
| Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an |
| obligation at the reporting date as a result of a past event, it is probable that economic |
| benefit will be transferred to settle the obligation and the amount of the obligation can be |
| estimated reliably. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| Cost |
| At 1 October 2018 |
| Additions |
| At 30 September 2019 |
| Depreciation |
| At 1 October 2018 |
| Charge for year |
| At 30 September 2019 |
| Net book value |
| At 30 September 2019 |
| At 30 September 2018 |
| Lower Cholwell Farm Limited (Registered number: 00820342) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 September 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| 8. | RELATED PARTY TRANSACTIONS |
| At the balance sheet date the following amounts were owed to/(from) related parties: |
| NAME | £ |
| P Cleave | ( 3,176 | ) |
| M Cleave | 282 |
| D Cleave | 1,203 |
| Mrs P Cleave | 300 |
| No interest was charged in the period. |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company was under the control of it's directors' throughout the period. |