CAPEL_FARMING_LIMITED - Accounts

CAPEL FARMING LIMITED - Company Information

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Company Registration No. 07759076 (England and Wales)

CAPEL FARMING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

CAPEL FARMING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CAPEL FARMING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

816,933

654,952

Current assets

Stocks

13,659

26,884

Debtors

879,427

698,409

893,086

725,293

Creditors: amounts falling due within one year

(565,694)

(621,206)

Net current assets

327,392

104,087

Total assets less current liabilities

1,144,325

759,039

Creditors: amounts falling due after more than one year

(18,412)

(103,575)

Provisions for liabilities

(117,604)

(88,410)

1,008,309

567,054

Capital and reserves

Called up share capital

100

Profit and loss account

1,008,209

566,954

Shareholders' funds

1,008,309

567,054

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 19 August 2016

Mr J P Greenwell

Mrs S J Greenwell

Director

Company Registration No. 07759076

CAPEL FARMING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Revenue is recognised when services are completed.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

CAPEL FARMING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2015

1,027,315

Additions

375,350

Disposals

(16,527)

At 31 December 2015

1,386,138

Depreciation

At 1 January 2015

372,363

On disposals

(7,394)

Charge for the year

204,236

At 31 December 2015

569,205

Net book value

At 31 December 2015

816,933

At 31 December 2014

654,952

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £152,857 (2014 - £257,267).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £18,412 (2014 - £103,575).

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary share of £1 each

100