Southfields Farm Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00625290 (England and Wales)

Abbreviated Accounts for the Year Ended 31 March 2016

for

Southfields Farm Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J H Plumb

SECRETARY:

Mrs B E Plumb

REGISTERED OFFICE:

Southfields Farm Limited

Packington Lane

Coleshill

B46 3EJ

REGISTERED NUMBER:

00625290 (England and Wales)

ACCOUNTANTS:

MAGIC Accountancy Services Ltd

Colman House

Station Road

Knowle

Solihull

West Midlands

B93 0HL

FIXED ASSETS

Tangible assets

2

74,238

54,866

CURRENT ASSETS

Stocks

34,060

46,640

Debtors

16,466

10,726

Cash at bank and in hand

26,168

36,205

76,694

93,571

CREDITORS

Amounts falling due within one year

101,158

51,820

NET CURRENT (LIABILITIES)/ASSETS

(24,464

)

41,751

TOTAL ASSETS LESS CURRENT
LIABILITIES

49,774

96,617

CREDITORS

Amounts falling due after more than
one year

(3,671

)

(5,405

)

PROVISIONS FOR LIABILITIES

(14,506

)

(6,302

)

NET ASSETS

31,597

84,910

CAPITAL AND RESERVES

Called up share capital

3

2,000

Profit and loss account

29,597

82,910

SHAREHOLDERS' FUNDS

31,597

84,910

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 14 June 2016 and were signed by:

J H Plumb - Director

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.

Tangible fixed assets

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

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

440,345

Additions

35,953

At 31 March 2016

476,298

DEPRECIATION

At 1 April 2015

385,479

Charge for year

16,581

At 31 March 2016

402,060

NET BOOK VALUE

At 31 March 2016

74,238

At 31 March 2015

54,866

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

2,000

Ordinary

1

2,000