Aylesby Manor Farms Limited - Period Ending 2015-09-30

Registration number: 00507767

Aylesby Manor Farms Limited

Unaudited Abbreviated Accounts

FOR THE Year Ended 30 September 2015
 

Aylesby Manor Farms Limited
Contents

			Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Aylesby Manor Farms Limited
(Registration number: 00507767)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					389,039			408,971
Investments					30			30
					389,069			409,001
Current assets
Stocks					163,389			187,595
Debtors					78,564			101,307
					241,953			288,902
Creditors: Amounts falling due within one year					(287,733)			(296,551)
Net current liabilities					(45,780)			(7,649)
Total assets less current liabilities					343,289			401,352
Creditors: Amounts falling due after more than one year					-			(75,047)
Net assets					343,289			326,305
Capital and reserves
Called up share capital		4			20,000			20,000
Revaluation reserve					166,273			172,836
Profit and loss account					157,016			133,469
Shareholders' funds					343,289			326,305

For the year ending 30 September 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board on 16 February 2015 and signed on its behalf by:

.........................................
J E Spilman
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Aylesby Manor Farms Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Entitlements	33% straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	3% per annum of cost or valuation
Plant and machinery	15% and 20% per annum of net book value
Motor vehicles	25% per annum of net book value

Fixed asset investments

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

Stock

The basis of valuation is as follows:Raw materials and consumables are stated at the lower of cost or net realisable value.Tenantright is calculated by a combination of actual costs incurred and standard costs.Standard costings used are based upon calculation prepared by the Central Association of Agricultural Valuers.The basis of valuation is consistent with previous years.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 2

Aylesby Manor Farms Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

Government grants

During 2004 and 2005 the Company received a grant towards the cost of renovating one of its buildings. Generally Accepted Accounting Principles require grants towards fixed assets, if material, to be credited to a deferred income account, to be released to the profit and loss account over the useful life of the asset in question.However, the directors consider that the grant received, amounting to £34,447, is not significant in the context of the company's financial statements and on the grounds of practicality and materiality have reduced the renovation cost of the building by this amount.Single farm payment is received in respect of calendar years. Receipt is contingent upon meeting certain eligibility criteria. Once the criteria have been met, the income is recognised on a time apportioned basis over the calendar year to which it relates.

  The company has estimated trade losses of £146,785 (2013: £218,874) available for carry forward against future trading profits and property losses of £41,870 (2013: £10,350) available to carry forward against future property profits.

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 October 2014		41,276			1,068,601			30			1,109,907
Additions		-			8,050			-			8,050
Disposals		-			(5,156)			-			(5,156)
At 30 September 2015		41,276			1,071,495			30			1,112,801
Depreciation
At 1 October 2014		41,276			659,630			-			700,906
Charge for the year		-			26,232			-			26,232
Eliminated on disposals		-			(3,406)			-			(3,406)
At 30 September 2015		41,276			682,456			-			723,732
Net book value
At 30 September 2015		-			389,039			30			389,069
At 30 September 2014		-			408,971			30			409,001

3

Creditors

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

		2015 £			2014 £
Amounts falling due within one year		237,639			191,644
Amounts falling due after more than one year		-			75,047
Total secured creditors		237,639			266,691

Page 3

Aylesby Manor Farms Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		20,000			20,000			20,000			20,000

5	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
JE and Mrs P Spilman	4,891	4,539	4,539	11,357

Page 4