Riverside Feeds Limited - Period Ending 2015-03-31

Registration number: 03154758

Riverside Feeds Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Riverside Feeds Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Riverside Feeds Limited
(Registration number: 03154758)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					266,496			297,586
Investments					101			101
		2			266,597			297,687
Current assets
Stocks					390,758			419,000
Debtors					1,600,020			2,098,944
					1,990,778			2,517,944
Creditors: Amounts falling due within one year		3			(1,129,994)			(1,289,730)
Net current assets					860,784			1,228,214
Total assets less current liabilities					1,127,381			1,525,901
Creditors: Amounts falling due after more than one year					-			(26,345)
Provisions for liabilities					(5,844)			(44,612)
Net assets					1,121,537			1,454,944
Capital and reserves
Called up share capital		4			100			100
Share premium account					9,900			9,900
Profit and loss account					1,111,537			1,444,944
Shareholders' funds					1,121,537			1,454,944

Page 1

Riverside Feeds Limited
(Registration number: 03154758)
Abbreviated Balance Sheet at 31 March 2015

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 25 November 2015 and signed on its behalf by:

S E Dare Director

Page 2

Riverside Feeds Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts. Turnover is recognised upon despatch of goods.

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.

Asset class	Depreciation method and rate
Fixtures, fittings & equipment	20% reducing balance
Plant and machinery	25% reducing balance, except cubing plant - 12.5% straight line
Motor vehicles	25% reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete to sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Deferred tax

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Riverside Feeds Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2015

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 elembent of the rental payment is charged to the porfit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding.

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2014		944,483			101			944,584
Additions		116,061			-			116,061
Disposals		(255,091)			-			(255,091)
At 31 March 2015		805,453			101			805,554
Depreciation
At 1 April 2014		646,897			-			646,897
Charge for the year		71,337			-			71,337
Eliminated on disposals		(179,277)			-			(179,277)
At 31 March 2015		538,957			-			538,957
Net book value
At 31 March 2015		266,496			101			266,597
At 31 March 2014		297,586			101			297,687

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Yarty Valley Dairies Limited		Ordinary	100%	Processing milk and dairy products

Page 4

Riverside Feeds Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2015

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		302,298			268,373
Amounts falling due after more than one year		-			26,345
Total secured creditors		302,298			294,718

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

5	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
S E Dare
Interest charged at 4%	20,751	20,751	179,325	179,325

Page 5