Roger Twidale Farms Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 01231073 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2015

for

Roger Twidale Farms Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

R J Twidale

SECRETARY:

J H Twidale

REGISTERED OFFICE:

Wolds Farm

Widmerpool

Nottingham

Nottinghamshire

NG12 5QE

REGISTERED NUMBER:

01231073 (England and Wales)

ACCOUNTANTS:

Clayton & Brewill

Chartered Accountants

Cawley House

149-155 Canal Street

Nottingham

Nottinghamshire

NG1 7HR

FIXED ASSETS

Tangible assets

2

2,954,946

3,227,531

CURRENT ASSETS

Stocks

177,960

359,769

Debtors

194,310

92,760

Cash at bank

83,859

-

456,129

452,529

CREDITORS

Amounts falling due within one year

3

88,440

317,509

NET CURRENT ASSETS

367,689

135,020

TOTAL ASSETS LESS CURRENT LIABILITIES

3,322,635

3,362,551

CREDITORS

Amounts falling due after more than one year

3

(22,500

)

(54,492

)

PROVISIONS FOR LIABILITIES

(59,832

)

(110,464

)

NET ASSETS

3,240,303

3,197,595

CAPITAL AND RESERVES

Called up share capital

4

100

100

Revaluation reserve

1,691,763

1,691,763

Profit and loss account

1,548,440

1,505,732

SHAREHOLDERS' FUNDS

3,240,303

3,197,595

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 25 February 2016 and were signed by:

R J Twidale - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by

the revaluation of certain assets and in accordance with the Financial Reporting Standard for

Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold buildings

-

at varying rates on cost

Freehold land

-

not provided

Implements and machinery

-

15% and 33.3% on reducing balance

Tractors and trailers

-

at variable rates on reducing balance

Motor vehicles

-

25% on reducing balance

Drainage

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance

sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

Those held under finance leases are depreciated over their estimated useful lives or the lease

term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the

relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

Investments

Investments held as fixed assets are stated at cost less provisions for any permanent diminution in

value.

Government grants and subsidies

Government grants made to compensate for a loss of current or future income are recognised in

the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2014

3,849,120

Disposals

(439,708

)

At 30 September 2015

3,409,412

DEPRECIATION

At 1 October 2014

621,589

Charge for year

88,591

Eliminated on disposal

(255,714

)

At 30 September 2015

454,466

NET BOOK VALUE

At 30 September 2015

2,954,946

At 30 September 2014

3,227,531

3.

CREDITORS

Creditors include an amount of £ 45,000 (2014 - £ 211,915 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100