A.P. Burlton (Farms) Limited - Accounts to registrar (filleted) - small 18.2

A.P. Burlton (Farms) Limited - Accounts to registrar (filleted) - small 18.2

A.P. BURLTON (FARMS) LIMITED - Company Information

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REGISTERED NUMBER: 01252264 (England and Wales)
















Financial Statements for the Year Ended 28 February 2022

for

A.P. Burlton (Farms) Limited
A.P. Burlton (Farms) Limited (Registered number: 01252264)






Contents of the Financial Statements
for the Year Ended 28 February 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


A.P. Burlton (Farms) Limited

Company Information
for the Year Ended 28 February 2022







DIRECTORS: Mr Michael Anthony Burlton
Mr Andrew John Dummett





REGISTERED OFFICE: Valley Farm
1 Station Road
Meldreth
Royston
Hertfordshire
SG8 6JP





REGISTERED NUMBER: 01252264 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN
Page 1
A.P. Burlton (Farms) Limited (Registered number: 01252264)

Abridged Balance Sheet
28 February 2022

28.2.22 28.2.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 521,841 517,457

CURRENT ASSETS
Stocks - 110,518
Debtors 177,745 189,045
Cash at bank and in hand 330,171 621,595
507,916 921,158
CREDITORS
Amounts falling due within one year 195,564 517,734
NET CURRENT ASSETS 312,352 403,424
TOTAL ASSETS LESS CURRENT
LIABILITIES
834,193
920,881

CREDITORS
Amounts falling due after more than one
year
(22,235
)
(32,659
)

PROVISIONS FOR LIABILITIES (51,305 ) (55,713 )
NET ASSETS 760,653 832,509

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings 760,553 832,409
SHAREHOLDERS' FUNDS 760,653 832,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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 notes form part of these financial statements

Page 2 continued...
A.P. Burlton (Farms) Limited (Registered number: 01252264)

Abridged Balance Sheet - continued
28 February 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 July 2022 and were signed on its behalf by:





Mr Michael Anthony Burlton - Director


The notes form part of these financial statements

Page 3
A.P. Burlton (Farms) Limited (Registered number: 01252264)

Notes to the Financial Statements
for the Year Ended 28 February 2022

1. STATUTORY INFORMATION

A.P. Burlton (Farms) Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 4% on cost
Plant and machinery - at variable rates on reducing balance
Drainage - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Tractors & combines - 15% on reducing balance

The rates of depreciation on plant and machinery are 10% or 15% depending on the estimated useful life of the relevant item.

No depreciation is provided on freehold land.

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
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


Page 4 continued...
A.P. Burlton (Farms) Limited (Registered number: 01252264)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

2. ACCOUNTING POLICIES - continued
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.

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 obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 10 ) .

Page 5 continued...
A.P. Burlton (Farms) Limited (Registered number: 01252264)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2021 2,152,932
Additions 62,549
Disposals (25,000 )
At 28 February 2022 2,190,481
DEPRECIATION
At 1 March 2021 1,635,475
Charge for year 58,034
Eliminated on disposal (24,869 )
At 28 February 2022 1,668,640
NET BOOK VALUE
At 28 February 2022 521,841
At 28 February 2021 517,457

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 March 2021 82,762
Transfer to ownership (82,762 )
At 28 February 2022 -
DEPRECIATION
At 1 March 2021 22,966
Transfer to ownership (22,966 )
At 28 February 2022 -
NET BOOK VALUE
At 28 February 2022 -
At 28 February 2021 59,796

5. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 28.2.22 28.2.21
value: £    £   
100 Ordinary £1 100 100

6. OTHER FINANCIAL COMMITMENTS

The company has guaranteed the bank borrowings of A P Burlton (Turkeys) Limited which at 28 February 2022 amounted to £69,027 (2021 - £104,105).

Page 6