Organic Farm Fayre Ltd - Period Ending 2016-03-31

Registration number: 03530764

Organic Farm Fayre Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Organic Farm Fayre Ltd
Contents

Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Organic Farm Fayre Ltd
(Registration number: 03530764)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					13,925			16,216
Current assets
Stocks					4,112			32,295
Debtors					34,741			23,257
Cash at bank and in hand					67,220			23,910
					106,073			79,462
Creditors: Amounts falling due within one year					(40,668)			(48,137)
Net current assets					65,405			31,325
Net assets					79,330			47,541
Capital and reserves
Called up share capital		3			240,366			240,366
Profit and loss account					(161,036)			(192,825)
Shareholders' funds					79,330			47,541

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 11 December 2016

J V Vergerson Director

Page 1

Organic Farm Fayre Ltd
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of eggs, poulty and consultacy services to customers recognised at point of sale for goods and in the period the work was undertaken for consultancy work.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Short leasehold land and buildings	10% reducing balance
Plant and machinery	15% reducing balance
Fixtures and fittings	15%/50% reducing balance
Motor vehicles	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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Organic Farm Fayre Ltd
Notes to the Abbreviated Accounts
For the Year Ended 31 March 2016

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		59,062			59,062
Additions		246			246
At 31 March 2016		59,308			59,308
Depreciation
At 1 April 2015		42,846			42,846
Charge for the year		2,537			2,537
At 31 March 2016		45,383			45,383
Net book value
At 31 March 2016		13,925			13,925
At 31 March 2015		16,216			16,216

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		240,366			240,366			240,366			240,366

4	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
J V Vergerson
Advances and repayments - interest free directors loan account	-	-	1,000	3,933

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