Bentleys Castle Fruit Farm Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08612081 (England and Wales)

BENTLEYS CASTLE FRUIT FARM LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M H Bentley

Mrs A C Bentley

REGISTERED OFFICE:

Castle Fruit Farm

Castle Tump

Newent

Gloucestershire

GL18 1LS

REGISTERED NUMBER:

08612081 (England and Wales)

FIXED ASSETS

Intangible assets

4

133,820

150,547

Tangible assets

5

4,466

5,583

138,286

156,130

CURRENT ASSETS

Stocks

65,114

23,056

Debtors

6

54,419

65,843

Cash at bank

225,864

162,356

345,397

251,255

CREDITORS

Amounts falling due within one year

7

221,944

129,066

NET CURRENT ASSETS

123,453

122,189

TOTAL ASSETS LESS CURRENT LIABILITIES

261,739

278,319

PROVISIONS FOR LIABILITIES

8

849

1,061

NET ASSETS

260,890

277,258

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

260,790

277,158

SHAREHOLDERS' FUNDS

260,890

277,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 and authorised for issue on 2 July 2020 and were signed on its behalf by:

M H Bentley - Director

1.	STATUTORY INFORMATION

Bentleys Castle Fruit Farm Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. These financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 2013 is being amortised over 15 years.

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

-

20% 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.

Financial instruments

Basic financial liabilities, including trade and other debtors, bank loans and loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends to either settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that have no stated interest rate are classified as payable or receivable within one year are initially measured at an un-discounted amount of the cash or other consideration expected to be paid, net of impairment.

Taxation

Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if:

- The company has a legally enforceable right to set off current tax assets against current tax liabilities, and

- The deferred tax assets and deferred tax liabilities relate to corporation taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 8 (2019 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

230,000

AMORTISATION

At 1 April 2019

79,453

Amortisation for year

16,727

At 31 March 2020

96,180

NET BOOK VALUE

At 31 March 2020

133,820

At 31 March 2019

150,547

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2019

and 31 March 2020

13,572

DEPRECIATION

At 1 April 2019

7,989

Charge for year

1,117

At 31 March 2020

9,106

NET BOOK VALUE

At 31 March 2020

4,466

At 31 March 2019

5,583

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

52,160

54,833

Other debtors

-

960

VAT

2,259

9,024

Prepayments

-

1,026

54,419

65,843

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

2

37

Tax

14,370

32,581

Social security and other taxes

458

-

Other Creditors

54,688

4,172

Directors' current accounts

149,876

89,876

Accrued expenses

2,550

2,400

221,944

129,066

8.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

849

1,061

Deferred

tax

£

Balance at 1 April 2019

1,061

Provided during year

(212

)

Balance at 31 March 2020

849

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

45

Ordinary A

£1

45

45

45

Ordinary B

£1

45

45

10

Ordinary C

£1

10

10

100

100