Farrant Farming Limited - Period Ending 2015-09-30

Registration number: 08669573

Farrant Farming Limited
 
  Unaudited Abbreviated Accounts
 
  for the year ended 30 September 2015
 

Farrant Farming Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Farrant Farming Limited
(Registration number: 08669573)
Abbreviated Balance Sheet at 30 September 2015

		Note			30 September 2015						30 September 2014
	£			£			£			£
Fixed assets
Intangible fixed assets								50,925						56,583
Tangible fixed assets								17,138						22,851
								68,063						79,434
Current assets
Stocks					207,031						169,250
Debtors					32,808						40,328
Cash at bank and in hand					54,893						87,990
					294,732						297,568
Creditors: Amounts falling due within one year					(55,182)						(109,616)
Net current assets								239,550						187,952
Total assets less current liabilities								307,613						267,386
Creditors: Amounts falling due after more than one year								(78,999)						(259,900)
Provisions for liabilities								(3,428)						-
Net assets								225,186						7,486
Capital and reserves
Called up share capital		3			200,100						100
Profit and loss account					25,086						7,386
Shareholders' funds								225,186						7,486

Page 1

Farrant Farming Limited
(Registration number: 08669573)
Abbreviated Balance Sheet at 30 September 2015

For the year ended 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 .

Approved by the Board on 31 March 2016 and signed on its behalf by:

.........................................
Mr G N S Farrant
Director

.........................................
Mr H A Farrant
Director

Page 2

Farrant Farming Limited
Notes to the Abbreviated Accounts for the year Ended 30 September 2015

1	Accounting policies

Basis of preparation

The financial statements 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, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Entitlements	Straight line over 10 years from 1 October 2014

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
Plant and machinery	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete, damaged and slow moving stocks. Net realisable value is based on selling price less costs to completion and selling costs. Cost is based on using the anticipated convention set out in HS232 to arrive at deemed costs where actual costs are not acutally ascertainable.

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.

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

Farrant Farming Limited
Notes to the Abbreviated Accounts for the year Ended 30 September 2015

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2014		56,583			27,990			84,573
At 30 September 2015		56,583			27,990			84,573
Depreciation
At 1 October 2014		-			5,139			5,139
Charge for the year		5,658			5,713			11,371
At 30 September 2015		5,658			10,852			16,510
Net book value
At 30 September 2015		50,925			17,138			68,063
At 30 September 2014		56,583			22,851			79,434

3	Share capital

Allotted, called up and fully paid shares

	30 September 2015						30 September 2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100
Preference shares of £1 (2014 - £0.00) each		200,000			200,000			-			-
		200,100			200,100			100			100

New shares allotted

During the year 200,000 Preference shares having an aggregate nominal value of £1 were allotted for an aggregate consideration of £200,000.

Page 4