Place Farm Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05649103 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

PLACE FARM ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Lord A J Margadale of Islay

SECRETARY:

S N Fowler

REGISTERED OFFICE:

The Estate Office

Fonthill Bishop

Salisbury

Wiltshire

SP3 5SH

REGISTERED NUMBER:

05649103 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

22,817

39,700

CURRENT ASSETS

Debtors

5

34,693

25,155

Cash at bank

14,020

15,514

48,713

40,669

CREDITORS

Amounts falling due within one year

6

166,742

159,944

NET CURRENT LIABILITIES

(118,029

)

(119,275

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(95,212

)

(79,575

)

CAPITAL AND RESERVES

Called up share capital

85,001

85,001

Retained earnings

(180,213

)

(164,576

)

SHAREHOLDERS' FUNDS

(95,212

)

(79,575

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 February 2022 and were signed by:

Lord A J Margadale of Islay - Director

1.	STATUTORY INFORMATION

Place Farm Enterprises 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

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 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

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 NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2020

117,970

11,874

2,285

132,129

Disposals

-

(11,874

)

(2,285

)

(14,159

)

At 31 March 2021

117,970

-

-

117,970

DEPRECIATION

At 1 April 2020

87,548

4,138

743

92,429

Charge for year

7,605

1,773

353

9,731

Eliminated on disposal

-

(5,911

)

(1,096

)

(7,007

)

At 31 March 2021

95,153

-

-

95,153

NET BOOK VALUE

At 31 March 2021

22,817

-

-

22,817

At 31 March 2020

30,422

7,736

1,542

39,700

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

34,693

25,155

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

25,849

31,549

VAT

1,263

1,900

Other creditors

138,880

124,320

Accrued expenses

750

2,175

166,742

159,944