Leonard Agri Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06165255 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Leonard Agri Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P Leonard

Mrs B Leonard

P Leonard Jnr

M Leonard

SECRETARY:

Mrs B Leonard

REGISTERED OFFICE:

Redwing Farm

Moor Road

Owersby Moor

Market Rasen

Lincolnshire

LN8 3PR

REGISTERED NUMBER:

06165255 (England and Wales)

FIXED ASSETS

Tangible assets

2

122,322

110,497

CURRENT ASSETS

Debtors

233

635

Cash at bank and in hand

63,318

26,410

63,551

27,045

CREDITORS

Amounts falling due within one year

138,791

105,938

NET CURRENT LIABILITIES

(75,240

)

(78,893

)

TOTAL ASSETS LESS CURRENT LIABILITIES

47,082

31,604

CREDITORS

Amounts falling due after more than one year

(13,147

)

(6,750

)

PROVISIONS FOR LIABILITIES

(24,465

)

(22,100

)

NET ASSETS

9,470

2,754

CAPITAL AND RESERVES

Called up share capital

3

1,004

1,004

Profit and loss account

8,466

1,750

SHAREHOLDERS' FUNDS

9,470

2,754

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 directors acknowledge their 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 Board of Directors on 4 August 2016 and were signed on its behalf by:

P Leonard - Director

Mrs B Leonard - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

178,097

Additions

67,764

Disposals

(39,930

)

At 31 March 2016

205,931

DEPRECIATION

At 1 April 2015

67,600

Charge for year

29,055

Eliminated on disposal

(13,046

)

At 31 March 2016

83,609

NET BOOK VALUE

At 31 March 2016

122,322

At 31 March 2015

110,497

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

1,000

Ordinary

£1

1,000

1,000

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

1

1

Ordinary D

£1

1

1

1,004

1,004

4.	RELATED PARTY DISCLOSURES

During the year, total dividends of £52,000 (2015 - £26,000) were paid to the directors .

Owersby Farm Limited

A company in which Mr P Leonard is a director and shareholder

During the year Owersby Farm Limited received services to the value of £157000 (2015 £128000) and there

were no amounts outstanding at the year end.

Included within other creditors at the year end is £8249 owed to Owersby Farm Limited.

P Leonard

Director and Shareholder

Interest free loan repayable on demand

31.3.16

31.3.15

£

£

Amount due to related party at the balance sheet date

98,108

87,100