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FRED HARTLEY (ESTATES) LTD
REGISTERED NUMBER: 00438926
ABBREVIATED BALANCE SHEET
AS AT 31 JANUARY 2015
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CREDITORS: amounts falling due within one year
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NET CURRENT (LIABILITIES)/ASSETS
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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PROVISIONS FOR LIABILITIES
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Capital redemption reserve
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The director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 January 2015 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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FRED HARTLEY (ESTATES) LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Intangible fixed assets and amortisation
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Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the asset as follows:
Sugar Beet Quota - 25% per annum straight line
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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2% per annum straight line
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8.33% SL and 15% reducing balance
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25% per annum reducing balance
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15% per annum reducing balance
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25% to 33% per annum reducing balance
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25% per annum reducing balance
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Revaluation of tangible fixed assets
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As permitted by the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective April 2008) the company has elected not to adopt a policy of revaluation of tangible fixed assets. The company will retain the book value of land and buildings, previously revalued at 1 December 2002 and will not update that valuation.
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Investments held as fixed assets are shown at cost less provision for impairment.
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Government grants relating to tangible fixed assets are treated as deferred income and released to the Profit and loss account over the expected useful lives of the assets concerned. Other grants are credited to the Profit and loss account as the related expenditure is incurred.
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The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
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Page 3
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FRED HARTLEY (ESTATES) LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
2.INTANGIBLE FIXED ASSETS
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At 1 February 2014 and 31 January 2015
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At 1 February 2014 and 31 January 2015
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3.TANGIBLE FIXED ASSETS
4.FIXED ASSET INVESTMENTS
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At 1 February 2014 and 31 January 2015
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Page 4
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FRED HARTLEY (ESTATES) LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
5.CREDITORS:
Amounts falling due after more than one year
Creditors include amounts not wholly repayable within 5 years as follows:
The Company in accordance with the 3% Cumulative redeemable preference shares have a duty to repay those shareholders within a year of 22nd March 2013 following the death of Mrs H J Hartley.
6.SHARE CAPITAL
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Shares classified as capital
 
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Allotted, called up and fully paid
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181,616 Ordinary shares of £1 each
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Shares classified as debt
 
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Allotted, called up and fully paid
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252,225 (2014 - 252,224) 3% Cumulative redeemable preference shares shares of £0.25 each
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980,000 Non Cumulative redeemable preference shares shares of £0.50 each
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7.RELATED PARTY TRANSACTIONS
At the year end Mr C F Hartley a Director owed the company £70,082 (2014 £35,099)
Page 5
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