Countrymans Choice Farmshop Limited - Accounts to registrar (filleted) - small 18.2
Countrymans Choice Farmshop Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 |
| FOR |
| Countrymans Choice Farmshop Limited |
| Countrymans Choice Farmshop Limited (Registered number: 08738118) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 8 |
| Countrymans Choice Farmshop Limited |
| COMPANY INFORMATION |
| for the year ended 31 March 2020 |
| Director: |
| Secretary: |
| Registered office: |
| Business address: |
| Registered number: |
| Accountants: |
| 129 North Hill |
| Plymouth |
| Devon |
| PL4 8JY |
| Countrymans Choice Farmshop Limited (Registered number: 08738118) |
| BALANCE SHEET |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| Provisions for liabilities | 10 | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 11 |
| Retained earnings |
| Shareholders' funds |
| Countrymans Choice Farmshop Limited (Registered number: 08738118) |
| BALANCE SHEET - continued |
| 31 March 2020 |
| The director acknowledges his 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 & Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Countrymans Choice Farmshop Limited (Registered number: 08738118) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2020 |
| 1. | STATUTORY INFORMATION |
| Countrymans Choice Farm Shop Limited is a private company, limited by shares, registered |
| in England and Wales. The company's registered number, business address 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 goods, net of any vat and is |
| recognised at the point of sale. |
| Tangible fixed assets |
| Depreciation is calculated to write down the cost of tangible fixed assets over their expected |
| useful economic lives using the following rates: |
| Equipment 15% reducing balance |
| Motor vehicles 25% straight line over initial lease period |
| Stocks |
| Stocks are measured at the lower of cost and estimated selling price less costs to complete |
| and sell. Cost is determined using the first in first out method. The carrying amount of stock |
| sold is recognised as an expense in the period in which the related revenue is recognised. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & |
| 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. |
| Countrymans Choice Farmshop Limited (Registered number: 08738118) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets held under finance leases and hire purchase contracts, which are those where |
| substainally all the risks and rewards of ownership of the asset have passed to the |
| company, are capitalised in the balance sheet and depreciated over there useful lives. |
| The corresponding lease or hire purchase obligation is treated in the balance sheet as a |
| liability. The interest element of the rental obligations is charged to the profit and loss |
| account over the period of the lease and represents a constant proportion of the capital |
| repayments outstanding. Rentals paid under operating leases are charged to income on a |
| straighline basis over the lease term. |
| 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. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Countrymans Choice Farmshop Limited (Registered number: 08738118) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Motor |
| Equipment | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2020 |
| Depreciation |
| At 1 April 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2020 |
| Net book value |
| At 31 March 2020 |
| At 31 March 2019 |
| The net book value of tangible fixed assets includes £28,281 in respect of assets held under |
| finance leases. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Finance leases (see note 8) |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Finance leases (see note 8) |
| Countrymans Choice Farmshop Limited (Registered number: 08738118) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under finance leases fall due as follows: |
| Finance leases |
| 2020 | 2019 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Finance leases | 27,358 | 15,161 |
| 10. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax | 2,222 | 2,355 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2019 |
| Provided during year | ( |
) |
| Balance at 31 March 2020 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| Countrymans Choice Farmshop Limited (Registered number: 08738118) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 12. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company owed the following amounts shown below to related |
| parties: |
| P Crockett | Director and shareholder | £7,869 |
| A Crockett | Shareholder and wife of director | £5,246 |
| 13. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |