DAMAR_FARMS_LTD - Accounts

DAMAR FARMS LIMITED - Company Information

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DAMAR FARMS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2015

COMPANY REGISTRATION NO. 03151736 (England and Wales)

DAMAR FARMS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

DAMAR FARMS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

172,147

160,919

Current assets

Debtors

51,880

28,558

Cash at bank and in hand

82,624

126,470

134,504

155,028

Creditors: amounts falling due within one year

(7,507)

(6,999)

Net current assets

126,997

148,029

Total assets less current liabilities

299,144

308,948

Capital and reserves

Called up share capital

245,000

Profit and loss account

54,144

63,948

Shareholders' funds

299,144

308,948

For the financial year ended 31 March 2015 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 15 December 2015

Mr D J E Sherry

Director

Company Registration No. 03151736

DAMAR FARMS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 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 other than freehold land 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:

Freehold land and buildings

Nil and 2% straight line

Plant and equipment

15% reducing balance

Fixed assets

Tangible assets

Cost

At 1 April 2014

179,709

Additions

14,259

At 31 March 2015

193,968

Depreciation

At 1 April 2014

18,790

Charge for the year

3,031

At 31 March 2015

21,821

Net book value

At 31 March 2015

172,147

At 31 March 2014

160,919

Share capital

2015

2014

Allotted, called up and fully paid

245,000 ordinary shares of £1 each

245,000

DAMAR FARMS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Related party relationships and transactions

Advances and credits to directors

Debtors include the following amounts owed by the director:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr D J E Sherry -

3.25

28,558

50,594

1,286

28,558

51,880

28,558

50,594

1,286

28,558

51,880