Ray Darley Limited - Accounts to registrar (filleted) - small 18.2
Ray Darley Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 |
| FOR |
| RAY DARLEY LIMITED |
| RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| RAY DARLEY LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 March 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546) |
| STATEMENT OF FINANCIAL POSITION |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 March 2020 |
| 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 |
| RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2020 |
| 1. | STATUTORY INFORMATION |
| Ray Darley Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| During the period under review and continuing to the date that the Financial Statements were approved, the Coronavirus (Covid-19) outbreak has caused extensive disruptions to businesses and economic activities globally. This has not had a significant impact on the company to the date of signing, but the directors continue to monitor the situation. |
| The directors have considered the financial resources and commitments of the company, particularly in light of the Coronavirus outbreak, and concluded that they have sufficient resources to meet liabilities as they fall due. The directors therefore consider it appropriate to prepare the financial statements on the going concern basis. |
| Significant judgements and estimates |
| In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates. |
| Critical judgements in applying the company's policies |
| No significant judgements have had to be made by management in preparing these financial statements. |
| Critical accounting estimates and assumptions |
| The directors do not consider that any estimates or assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
| Revenue |
| Revenue represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration. |
| Goodwill |
| Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised. |
| Property, plant and equipment |
| Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses. |
| Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life. |
| Freehold property | - not provided on land |
| Improvements to property | - 2% straight line basis |
| Tractors and implements | - 20% reducing balance basis |
| Motor vehicles | - 25% reducing balance basis |
| Computer equipment | - 20% reducing balance basis |
| RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Inventories |
| Biological assets, agricultural produce and other inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties. |
| Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
| Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Leasing commitments |
| Operating lease rentals are charged against profits of the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2019 |
| and 31 March 2020 |
| AMORTISATION |
| At 1 April 2019 |
| and 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Improvements | Tractors |
| Freehold | to | and |
| property | property | implements |
| £ | £ | £ |
| 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 |
| Motor | Computer |
| vehicles | equipment | 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 |
| Included in cost of land and buildings is freehold land of £ 1,038,490 (2019 - £ 1,038,490 ) which is not depreciated. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| RAY DARLEY LIMITED (REGISTERED NUMBER: 04699546) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |