Morton Spiert Farm Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04680184

MORTON SPIERT FARM LIMITED

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

11,458

12,708

Tangible assets

3

202,691

216,436

Investments

4

1

Investment property

5

345,000

170,876

559,150

400,021

CURRENT ASSETS

Stocks

29,562

27,358

Debtors

1,117,750

1,169,582

Cash at bank

3,806

7,256

1,151,118

1,204,196

CREDITORS

Amounts falling due within one year

132,635

126,782

NET CURRENT ASSETS

1,018,483

1,077,414

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,577,633

1,477,435

CAPITAL AND RESERVES

Called up share capital

6

100

Revaluation reserve

204,938

44,403

Profit and loss account

1,372,595

1,432,932

SHAREHOLDERS' FUNDS

1,577,633

1,477,435

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 26 July 2016 and were signed by:

N C Spencer - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as

modified by the revaluation of certain assets and in accordance with the Financial Reporting

Standard for Smaller Entities (effective January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Morton Spiert Farm Limited as an

individual company and do not contain consolidated financial information as the parent of a

group. The company has taken the option under Section 398 of the Companies Act 2006 not

to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

20% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

at variable rates on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit

arising from changes in market value is transferred to a revaluation reserve.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated

but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

Investments

Fixed asset investments are stated at cost less provision for any permanent diminution in

value.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

25,000

AMORTISATION

At 1 April 2015

12,292

Amortisation for year

1,250

At 31 March 2016

13,542

NET BOOK VALUE

At 31 March 2016

11,458

At 31 March 2015

12,708

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

361,319

Additions

11,024

At 31 March 2016

372,343

DEPRECIATION

At 1 April 2015

144,883

Charge for year

24,769

At 31 March 2016

169,652

NET BOOK VALUE

At 31 March 2016

202,691

At 31 March 2015

216,436

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

1

NET BOOK VALUE

At 31 March 2016

1

At 31 March 2015

1

The company's investments at the Balance Sheet date in the share capital of companies

include the following:

Autoemotion Ltd

Nature of business: Non trading

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

1

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2015

170,876

Additions

13,589

Revaluations

160,535

At 31 March 2016

345,000

NET BOOK VALUE

At 31 March 2016

345,000

At 31 March 2015

170,876

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

7.	ULTIMATE PARENT COMPANY

The company's immediate and ultimate parent company is Mission Recycling Limited.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Advances, credits

During the year the company made available to the director an unsecured loan by way of

advances and credits. The total of advances and credits made during the year was £56,526.

The total of repayments made during the year was £68,713. The loan is repayable on

demand and interest is charged at the official rate.

The director of the company is also the only shareholder of the parent company and is

aware of the requirements of Section 197 of the Companies Act 2006 regarding approval by

the members of loans to directors.