Farmtastic Valley Limited - Accounts to registrar (filleted) - small 18.2
Farmtastic Valley Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| FOR |
| FARMTASTIC VALLEY LIMITED |
| FARMTASTIC VALLEY LIMITED (REGISTERED NUMBER: 06218626) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| FARMTASTIC VALLEY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants |
| Hadrian House |
| Front Street |
| Chester le Street |
| County Durham |
| DH3 3DB |
| FARMTASTIC VALLEY LIMITED (REGISTERED NUMBER: 06218626) |
| BALANCE SHEET |
| 30 APRIL 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 |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| FARMTASTIC VALLEY LIMITED (REGISTERED NUMBER: 06218626) |
| BALANCE SHEET - continued |
| 30 APRIL 2020 |
| 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 Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| FARMTASTIC VALLEY LIMITED (REGISTERED NUMBER: 06218626) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 1. | STATUTORY INFORMATION |
| Farmtastic Valley Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| Rounding is to the nearest whole one pound. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Facilities | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Government grants |
| Government grants received in relation to assets are recognised under the accruals method and will be recognised in the profit and loss account over the expected useful life of the asset. |
| Other Government grants are recognised under the performance model and will be recognised in the profit and loss account once the performance-related conditions are met. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| FARMTASTIC VALLEY LIMITED (REGISTERED NUMBER: 06218626) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. |
| Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| Facilities | fittings | vehicles | Animals | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 May 2019 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 April 2020 |
| DEPRECIATION |
| At 1 May 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30 April 2020 |
| NET BOOK VALUE |
| At 30 April 2020 |
| At 30 April 2019 |
| FARMTASTIC VALLEY LIMITED (REGISTERED NUMBER: 06218626) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts (see note 7) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase | contracts |
| 2020 | 2019 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Non-cancellable | operating leases |
| 2020 | 2019 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Hire purchase | - | 2,479 |
| The hire purchase creditor is secured against the assets financed. |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year a loan of £96,675 (2019: £78,727) was advanced to Mr M and Mrs J Calzini on which interest has been charged at 2.5%. |