Callestick Farm Ice Cream Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05924889 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

1 OCTOBER 2013 TO 31 DECEMBER 2014

FOR

CALLESTICK FARM ICE CREAM LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs J Parker

J S Parker

Mrs A M C Parker

B S Parker

S R Parker

SECRETARY:

B S Parker

REGISTERED OFFICE:

Callestick Farm

Callestick

TRURO

Cornwall

TR4 9LL

REGISTERED NUMBER:

05924889 (England and Wales)

ACCOUNTANTS:

Lang Bennetts Chartered Accountants

The Old Carriage Works

Moresk Road

TRURO

Cornwall

TR1 1DG

FIXED ASSETS

Intangible assets

2

155,119

182,952

Tangible assets

3

1,210,799

1,114,159

Investments

4

110,872

18,948

1,476,790

1,316,059

CURRENT ASSETS

Stocks

536,411

579,936

Debtors

363,658

329,106

Investments

4,284

4,284

Cash at bank and in hand

8,847

1,021

913,200

914,347

CREDITORS

Amounts falling due within one year

5

578,593

749,381

NET CURRENT ASSETS

334,607

164,966

TOTAL ASSETS LESS CURRENT LIABILITIES

1,811,397

1,481,025

CREDITORS

Amounts falling due after more than one year

5

(1,686,375

)

(1,483,349

)

PROVISIONS FOR LIABILITIES

(55,332

)

(34,677

)

ACCRUALS AND DEFERRED INCOME

(13,346

)

-

NET ASSETS/(LIABILITIES)

56,344

(37,001

)

CAPITAL AND RESERVES

Called up share capital

6

602

602

Profit and loss account

55,742

(37,603

)

SHAREHOLDERS' FUNDS

56,344

(37,001

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 July 2015 and were signed on its behalf by:

J S Parker - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

No amortisation is considered appropriate on the Other Intangible Asset being Milk Quota.

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.

Plant and machinery etc

-

33% on cost, 25% on cost and 15% on cost

No depreciation is provided on buildings as the directors do not consider this to be appropriate. The ongoing

maintenance of the buildings results in their value exceeding the original cost.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

270,452

Additions

5,119

Disposals

(20,452

)

At 31 December 2014

255,119

AMORTISATION

At 1 October 2013

87,500

Amortisation for period

12,500

At 31 December 2014

100,000

NET BOOK VALUE

At 31 December 2014

155,119

At 30 September 2013

182,952

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

1,959,130

Additions

377,042

Disposals

(71,032

)

At 31 December 2014

2,265,140

DEPRECIATION

At 1 October 2013

844,971

Charge for period

246,227

Eliminated on disposal

(36,857

)

At 31 December 2014

1,054,341

NET BOOK VALUE

At 31 December 2014

1,210,799

At 30 September 2013

1,114,159

4.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2014

2013

£

£

Dairy Herd

110,872

18,948

5.

CREDITORS

Creditors include an amount of £ 2,044,041 (2013 - £ 1,834,216 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

1,118,511

821,337

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

600

Ordinary A

1

600

600

2

Ordinary B

1

2

2

602

602