East Suffolk Produce Ltd - Abbreviated accounts 16.1
East Suffolk Produce Ltd - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| East Suffolk Produce Ltd |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 May 2016 |
| East Suffolk Produce Ltd (Registered number: 08443660) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 May 2016 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Abbreviated Balance Sheet | 3 |
| Notes to the Abbreviated Accounts | 5 |
| East Suffolk Produce Ltd |
| Company Information |
| for the Year Ended 31 May 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| trading as The Hutchinson Partnership |
| Chartered Accountants |
| BANKERS: |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| East Suffolk Produce Ltd |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of East Suffolk Produce Ltd for the year ended 31 May 2016 which comprise the Profit and Loss |
| Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of East Suffolk Produce Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of East Suffolk Produce Ltd and state those matters that we have agreed to state to the Board of Directors of East Suffolk Produce Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that East Suffolk Produce Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of East Suffolk Produce Ltd. You consider that East Suffolk Produce Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of East Suffolk Produce Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| trading as The Hutchinson Partnership |
| Chartered Accountants |
| Date: ............................................. |
| East Suffolk Produce Ltd (Registered number: 08443660) |
| Abbreviated Balance Sheet |
| 31 May 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| East Suffolk Produce Ltd (Registered number: 08443660) |
| Abbreviated Balance Sheet - continued |
| 31 May 2016 |
| The financial statements were approved for issue by the Board of Directors on behalf by: |
| East Suffolk Produce Ltd (Registered number: 08443660) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 May 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors have considered the financial requirements of the company and consider that it will be able to |
| operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate |
| to prepare accounts on the going concern basis. |
| 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 |
| The company markets and sells agricultural produce as principal, but accepts no stock risk in doing so. In some |
| cases the company acts as agent and therefore only recognises the marketing fee as turnover. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 June 2015 |
| Additions |
| At 31 May 2016 |
| DEPRECIATION |
| At 1 June 2015 |
| Charge for year |
| At 31 May 2016 |
| NET BOOK VALUE |
| At 31 May 2016 |
| At 31 May 2015 |
| East Suffolk Produce Ltd (Registered number: 08443660) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 May 2016 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary A | £1 |
| Ordinary B | £1 |
| Ordinary C | £1 |
| Ordinary D | £1 |
| Ordinary E | £1 |
| 500 | 500 |
| 4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2016 and |
| 31 May 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Balance outstanding at end of year |
| In the year the directors agreed to loan £50,000 to JRJ Wrinch which is repayable on 12 January 2017. Interest is |
| being charged at 3% and £562 has been accrued by the year end. |
| During the year JRJ Wrinch received dividends amounting to £40,500 (2015 - £39,000). |