H_&_M_FARMS_LTD - Accounts

H & M FARMS LTD - Company Information

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Company Registration No. SC383794 (Scotland)

H & M FARMS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2013

H & M FARMS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

H & M FARMS LTD

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

341,248

333,327

Current assets

Investments

353,742

324,176

Cash at bank and in hand

52,264

36,234

406,006

360,410

Creditors: amounts falling due within one year

(317,029)

(315,631)

Net current assets

88,977

44,779

Total assets less current liabilities

430,225

378,106

Creditors: amounts falling due after more than one year

(8,383)

(6,667)

Provisions for liabilities

(21,711)

(15,492)

400,131

355,947

Capital and reserves

Called up share capital

200

Profit and loss account

399,931

355,747

Shareholders' funds

400,131

355,947

For the financial year ended 30 November 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 August 2014

P.A. Manners

Mrs. S. Manners

Director

Company Registration No. SC383794

H & M FARMS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2013

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% and 18% reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Investments

Current asset investments are stated at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

H & M FARMS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2013

- 3 -

Fixed assets

Tangible assets

Cost

At 1 December 2012

358,841

Additions

52,000

Disposals

(23,094)

At 1 December 2012 & at 30 November 2013

387,747

Depreciation

At 1 December 2012

25,514

Charge for the year

20,985

At 30 November 2013

46,499

Net book value

At 30 November 2013

341,248

At 30 November 2012

333,327

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £15,050 (2012 - £6,667).

Net obligations due under hire purchase contracts are secured over the assets to which they relate.

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £8,383 (2012 - £6,667).

Net obligations due under hire purchase contracts are secured over the assets to which they relate.

Share capital

2013

2012

Allotted, called up and fully paid

200 Ordinary shares of £1 each

200