A. McCrea and Sons Farms Ltd 30/04/2022 iXBRL

A. McCrea and Sons Farms Ltd 30/04/2022 iXBRL

A. MCCREA AND SONS FARMS LTD - Company Information

Print Friendly Version

1 30/04/2022 2022-04-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-05-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP NI610725 2021-05-01 2022-04-30 NI610725 2022-04-30 NI610725 2020-05-01 2021-04-30 NI610725 2021-04-30 NI610725 bus:RegisteredOffice 2021-05-01 2022-04-30 NI610725 bus:LeadAgentIfApplicable 2021-05-01 2022-04-30 NI610725 bus:Director1 2021-05-01 2022-04-30 NI610725 core:WithinOneYear 2022-04-30 NI610725 core:WithinOneYear 2021-04-30 NI610725 core:AfterOneYear 2022-04-30 NI610725 core:AfterOneYear 2021-04-30 NI610725 core:ShareCapital 2022-04-30 NI610725 core:ShareCapital 2021-04-30 NI610725 bus:SmallEntities 2021-05-01 2022-04-30 NI610725 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 NI610725 bus:AbridgedAccounts 2021-05-01 2022-04-30 NI610725 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 NI610725 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30
Company registration number: NI610725
A. McCrea and Sons Farms Ltd
Unaudited filleted abridged financial statements
30 April 2022
A. McCrea and Sons Farms Ltd
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
A. McCrea and Sons Farms Ltd
Directors and other information
Director Mr Andrew McCrea
Company number NI610725
Registered office 192 Coagh Road
Stewartstown
County Tyrone
BT71 5LW
Accountants ASM (D) Ltd
79 Cunninghams Lane
Dungannon
County Tyrone
BT71 6BX
Bankers Ulster Bank
20 William Street
Cookstown
County Tyrone
BT80 8ND
A. McCrea and Sons Farms Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of A. McCrea and Sons Farms Ltd
Year ended 30 April 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A. McCrea and Sons Farms Ltd for the year ended 30 April 2022 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the director of A. McCrea and Sons Farms Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of A. McCrea and Sons Farms Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland, as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A. McCrea and Sons Farms Ltd and its director as a body for our work or for this report.
It is your duty to ensure that A. McCrea and Sons Farms Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A. McCrea and Sons Farms Ltd. You consider that A. McCrea and Sons Farms Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of A. McCrea and Sons Farms Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
ASM (D) Ltd
Chartered Accountants
79 Cunninghams Lane
Dungannon
County Tyrone
BT71 6BX
25 April 2023
A. McCrea and Sons Farms Ltd
Abridged statement of financial position
30 April 2022
2022 2021
Note £ £ £ £
Current assets
Debtors 104,121 92,495
Cash at bank and in hand 1 42
_______ _______
104,122 92,537
Creditors: amounts falling due
within one year ( 70,499) ( 53,180)
_______ _______
Net current assets 33,623 39,357
_______ _______
Total assets less current liabilities 33,623 39,357
Creditors: amounts falling due
after more than one year 5 ( 33,622) ( 39,356)
_______ _______
Net assets 1 1
_______ _______
Capital and reserves
Called up share capital 1 1
_______ _______
Shareholder funds 1 1
_______ _______
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 30 April 2022 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 25 April 2023 , and are signed on behalf of the board by:
Mr Andrew McCrea
Director
Company registration number: NI610725
A. McCrea and Sons Farms Ltd
Notes to the financial statements
Year ended 30 April 2022
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 192 Coagh Road, Stewartstown, County Tyrone, BT71 5LW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Creditors: amounts falling due after more than one year
A bounce back loan of £44,266 (2021: £50,000) is guaranteed by the UK Government under the Bounce Back Loan Scheme. The loan is repayable over 6 years with a rate of interest of 2.5%.