P & B Hodgson and Sons Limited - Abbreviated accounts 16.1

P & B Hodgson and Sons Limited - Abbreviated accounts 16.1

P & B HODGSON AND SONS LIMITED - Company Information

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REGISTERED NUMBER: 05399551 (England and Wales)












P & B HODGSON AND SONS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016






P & B HODGSON AND SONS LIMITED (REGISTERED NUMBER: 05399551)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016










Page

Company Information 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

P & B HODGSON AND SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2016







DIRECTORS: K P Hodgson
P S Hodgson





SECRETARY: P S Hodgson





REGISTERED OFFICE: 22 Bridge Street
Horncastle
Lincolnshire
LN9 5HZ





REGISTERED NUMBER: 05399551 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe
Chartered Certified Accountants
Rollestone House
Bridge Street
Horncastle
Lincolnshire
LN9 5HZ
Page 1
P & B HODGSON AND SONS LIMITED (REGISTERED NUMBER: 05399551)

ABBREVIATED BALANCE SHEET
31 MARCH 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 193,578 167,917
193,578 167,917

CURRENT ASSETS
Stocks 76,163 93,501
Debtors 12,508 24,952
Cash at bank 76,731 83,794
165,402 202,247
CREDITORS
Amounts falling due within one year 288,049 223,158
NET CURRENT LIABILITIES (122,647 ) (20,911 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
70,931
147,006

PROVISIONS FOR LIABILITIES 18,420 24,173
NET ASSETS 52,511 122,833

CAPITAL AND RESERVES
Called up share capital 4 2 3
Capital redemption reserve 1 -
Profit and loss account 52,508 122,830
SHAREHOLDERS' FUNDS 52,511 122,833

The notes form part of these abbreviated accounts

Page 2 continued...
P & B HODGSON AND SONS LIMITED (REGISTERED NUMBER: 05399551)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 2016


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 22 November 2016 and were signed on its behalf
by:




K P Hodgson - Director



P S Hodgson - Director


The notes form part of these abbreviated accounts

Page 3
P & B HODGSON AND SONS LIMITED (REGISTERED NUMBER: 05399551)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016


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.

Intangible fixed assets
The sugar beet quota is amortised straight line over 3 years commencing on 1 April 2010. The set aside
entitlement is amortised straight line over 5 years commencing on 1 April 2007.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tenants Fixtures - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Motor Vehicles - 25% on reducing balance
Tractors - 25% on reducing balance
Computer equipment - 15% on reducing balance

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 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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Page 4 continued...
P & B HODGSON AND SONS LIMITED (REGISTERED NUMBER: 05399551)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2016


2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015
and 31 March 2016 4,083
AMORTISATION
At 1 April 2015
and 31 March 2016 4,083
NET BOOK VALUE

At 31 March 2016 -
At 31 March 2015 -

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 435,490
Additions 56,325
At 31 March 2016 491,815
DEPRECIATION
At 1 April 2015 267,573
Charge for year 30,664
At 31 March 2016 298,237
NET BOOK VALUE
At 31 March 2016 193,578
At 31 March 2015 167,917

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
2 Ordinary £1 2 3
(2015 - 3 )

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company farms on land owned by the directors and paid rent for the year of £4,585 (2015 £5,565).

Page 5