Murdoch Farms Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01309531 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

MURDOCH FARMS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr W D S Murdoch

SECRETARY:

Mr M E K Hyson

REGISTERED OFFICE:

14 London Street

Andover

Hampshire

SP10 2PA

REGISTERED NUMBER:

01309531 (England and Wales)

ACCOUNTANTS:

Hysons

Chartered Accountants

14 London Street

Andover

Hampshire

SP10 2PA

BANKERS:

NatWest Bank plc

22 Chantry Way

Andover

Hampshire

SP10 1LL

FIXED ASSETS

Tangible assets

2

269,650

230,195

CURRENT ASSETS

Stocks

104,208

92,506

Debtors

55,622

25,951

Cash at bank and in hand

205,992

239,402

365,822

357,859

CREDITORS

Amounts falling due within one year

57,469

27,063

NET CURRENT ASSETS

308,353

330,796

TOTAL ASSETS LESS CURRENT LIABILITIES

578,003

560,991

CREDITORS

Amounts falling due after more than one year

17,833

-

NET ASSETS

560,170

560,991

CAPITAL AND RESERVES

Called up share capital

3

5,000

5,000

Profit and loss account

555,170

555,991

SHAREHOLDERS' FUNDS

560,170

560,991

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 17 June 2016 and were signed by:

Mr W D S Murdoch - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

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.

Freehold property

-

not provided

Machinery, implements & equipment

-

25% on reducing balance

Tractors, combines & balers

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office and computer equipment

-

33% on reducing balance

No depreciation is provided on freehold buildings as the property is maintained in a continued state of sound

repair and the Directors are therefore of the opinion that any provision would be negligible and that the residual

value to the business is estimated to be not less than cost.

Stocks

The valuation has been prepared by Bays Curry McCowen of Winchester on the basis of the value being the

lower of cost or net realisable value and by reference to IR232.

Deferred tax

A provision for deferred tax is made in respect of all timing differences that have originated but not reversed at

the balance sheet date where transactions or events have occurred at that date which will result in a future

obligation to pay more tax.

The provision has been measured by reference to the tax rates that are expected to apply in the periods in which

the timing differences are expected to reverse, based on the tax rates and laws in place at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

658,262

Additions

93,261

Disposals

(51,484

)

Scrapped

(98,538

)

At 31 March 2016

601,501

DEPRECIATION

At 1 April 2015

428,067

Charge for year

42,408

Eliminated on disposal

(43,326

)

Scrapped

(95,298

)

At 31 March 2016

331,851

NET BOOK VALUE

At 31 March 2016

269,650

At 31 March 2015

230,195

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

5,000

Ordinary

£1

5,000

5,000

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES