S.W.Hull & Son (Farms) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00725597 (England and Wales)

S.W.Hull & Son (Farms) Limited

Abbreviated Unaudited Accounts for the Year Ended 31st March 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A W Hull

SECRETARY:

Mrs C J Hull

REGISTERED OFFICE:

Dean Farm

Wickham Road

Fareham

Hampshire

PO17 5BN

REGISTERED NUMBER:

00725597 (England and Wales)

ACCOUNTANTS:

Sheen Stickland

Chartered Accountants

4 High Street

Alton

Hampshire

GU34 1BU

FIXED ASSETS

Intangible assets

2

25,000

-

Tangible assets

3

157,700

178,649

Investments

4

11

182,711

178,660

CURRENT ASSETS

Stocks

127,000

124,720

Debtors

123,626

135,950

250,626

260,670

CREDITORS

Amounts falling due within one year

5

256,130

260,039

NET CURRENT (LIABILITIES)/ASSETS

(5,504

)

631

TOTAL ASSETS LESS CURRENT
LIABILITIES

177,207

179,291

CREDITORS

Amounts falling due after more than
one year

5

(67,976

)

(48,234

)

PROVISIONS FOR LIABILITIES

(27,178

)

(31,257

)

NET ASSETS

82,053

99,800

CAPITAL AND RESERVES

Called up share capital

6

36,500

Profit and loss account

45,553

63,300

SHAREHOLDERS' FUNDS

82,053

99,800

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 23rd December 2016 and were signed by:

A W Hull - 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 gross outputs 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Improvements to property

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Tractors and combines

-

15% on reducing balance

Motor vehicles

-

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

25,000

At 31st March 2016

25,000

NET BOOK VALUE

At 31st March 2016

25,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

379,024

Additions

55,877

Disposals

(67,500

)

At 31st March 2016

367,401

DEPRECIATION

At 1st April 2015

200,375

Charge for year

28,057

Eliminated on disposal

(18,731

)

At 31st March 2016

209,701

NET BOOK VALUE

At 31st March 2016

157,700

At 31st March 2015

178,649

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st April 2015

and 31st March 2016

11

NET BOOK VALUE

At 31st March 2016

11

At 31st March 2015

11

5.

CREDITORS

Creditors include an amount of £ 93,753 (2015 - £ 78,544 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

36,500

Ordinary

£1

36,500

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2016

and 31st March 2015:

2016

2015

£

A W Hull

Balance outstanding at start of year

103,571

102,118

Amounts advanced

-

1,453

Amounts repaid

(7,949

)

-

Balance outstanding at end of year

95,622

103,571