Newton Barton Farm Limited - Period Ending 2020-03-31

Newton Barton Farm Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

Newton Barton Farm Limited

Balance Sheet

31 March 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	390,394	396,663
Current assets
Debtors	5	58,133	86,810
Cash at bank and in hand		57,978	159,725
		116,111	246,535
Creditors: Amounts falling due within one year	6	(69,255)	(101,487)
Net current assets		46,856	145,048
Net assets		437,250	541,711
Capital and reserves
Called up share capital		100	100
Profit and loss account		437,150	541,611
Total equity		437,250	541,711

Newton Barton Farm Limited

Balance Sheet

31 March 2020

For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 22 December 2020
 

......................................... Mrs D C Baylis Director

Company Registration Number: 03340765

Newton Barton Farm Limited

Notes to the Financial Statements

Year Ended 31 March 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Newton Ferrers Estate Offices
Callington
Cornwall
PL17 7HS

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Newton Barton Farm Limited

Notes to the Financial Statements

Year Ended 31 March 2020

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	1 - 2% straight line
Other property, plant and machinery	15% reducing balance
Furniture, fittings and equipment	33.3% straight line

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2019 - 2).

Newton Barton Farm Limited

Notes to the Financial Statements

Year Ended 31 March 2020

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 April 2019	504,926	5,008	49,759	559,693
At 31 March 2020	504,926	5,008	49,759	559,693
Depreciation
At 1 April 2019	111,980	3,723	47,327	163,030
Charge for the year	5,599	303	367	6,269
At 31 March 2020	117,579	4,026	47,694	169,299
Carrying amount
At 31 March 2020	387,347	982	2,065	390,394
At 31 March 2019	392,946	1,285	2,432	396,663

5

Debtors

	2020 £	2019 £
Trade debtors	-	50,751
Other debtors	58,133	36,059
	58,133	86,810

Newton Barton Farm Limited

Notes to the Financial Statements

Year Ended 31 March 2020

6

Creditors

Creditors: amounts falling due within one year

	Note	2020  £	2019  £
Due within one year
Trade creditors		120	8,014
Amounts due to group undertakings	8	500	500
Social security and other taxes		4,913	13,106
Other creditors		23,000	28,648
Corporation tax		-	10,497
Accrued expenses and deferred income		40,722	40,722
		69,255	101,487

7	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

8	Related party transactions

Advances to directors

2020	At 1 April 2019 £	Advances to director £	Repayments by director £	At 31 March 2020 £
Directors loan account	14,504	18,073	(28,208)	4,369
Interest charged at 2.5%	-	364	-	364
	14,504	18,437	(28,208)	4,733

2019	At 1 April 2018 £	Advances to director £	Repayments by director £	At 31 March 2019 £
Directors loan account	7,159	14,965	(7,867)	14,257
Interest charged at 2.5%	-	247	-	247
	7,159	15,212	(7,867)	14,504

Newton Barton Farm Limited

Notes to the Financial Statements

Year Ended 31 March 2020

9	Parent and ultimate parent undertaking

The ultimate parent is Newton Barton Farm (Investment) Limited, incorporated in England and Wales.

  These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ.