Nelson County Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05466079 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2016

for

Nelson County Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

T P C Mermagen

A D Cargill

J E Harrison

G J R Bell

SECRETARY:

T P C Mermagen

REGISTERED OFFICE:

Grove Farm

Gimingham

NORWICH

Norfolk

NR11 8HQ

REGISTERED NUMBER:

05466079 (England and Wales)

ACCOUNTANTS:

Argents Chartered Accountants

15 Palace Street

NORWICH

Norfolk

NR3 1RT

FIXED ASSETS

Tangible assets

2

98,111

152,239

Investments

3

50

50

98,161

152,289

CURRENT ASSETS

Stocks

225,338

177,312

Debtors

94,131

222,457

Cash at bank and in hand

179,438

198,482

498,907

598,251

CREDITORS

Amounts falling due within one year

308,396

437,428

NET CURRENT ASSETS

190,511

160,823

TOTAL ASSETS LESS CURRENT LIABILITIES

288,672

313,112

CAPITAL AND RESERVES

Called up share capital

4

96

100

Capital redemption reserve

4

-

Profit and loss account

288,572

313,012

SHAREHOLDERS' FUNDS

288,672

313,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 December 2016 and were signed on its behalf by:

T P C Mermagen - 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

Sales represent commission and washing income generated by potato movements through the business and

seed sales.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on reducing balance, 25% on reducing balance and 20% 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.

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.

Investments

Investments held as fixed assets are stated at cost less provision for any impairment in value.

Stocks

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

moving items.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

445,568

Disposals

(17,347

)

At 31 July 2016

428,221

DEPRECIATION

At 1 August 2015

293,329

Charge for year

42,031

Eliminated on disposal

(5,250

)

At 31 July 2016

330,110

NET BOOK VALUE

At 31 July 2016

98,111

At 31 July 2015

152,239

3.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2016

2015

£

£

Investment

50

50

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

96

Ordinary

£1

96

100

(2015 - 100 )

5.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their shareholdings.