Mowles Farms Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07225311 (England and Wales)

MOWLES FARMS LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

30 APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTORS:

Mr D M Mowles

Mr T J Mowles

REGISTERED OFFICE:

Unit 4

Spring Mill Industrial Estate

Avening Road

NAILSWORTH

Gloucestershire

GL6 0BS

REGISTERED NUMBER:

07225311 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

Barclays Bank Plc

Leicester

Leicestershire

LE87 2BB

FIXED ASSETS

Tangible assets

2

55,866

59,709

CURRENT ASSETS

Stocks

50,973

24,395

Debtors

6,359

9,327

Cash at bank

-

884

57,332

34,606

CREDITORS

Amounts falling due within one year

3

173,737

125,696

NET CURRENT LIABILITIES

(116,405

)

(91,090

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(60,539

)

(31,381

)

CREDITORS

Amounts falling due after more than
one year

3

26,212

31,454

NET LIABILITIES

(86,751

)

(62,835

)

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

(86,752

)

(62,836

)

SHAREHOLDERS' FUNDS

(86,751

)

(62,835

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 26 January 2017 and were signed
on its behalf by:

Mr T J Mowles - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors have assessed the forthcoming period in terms of trading, cashflow generation and

underlying balance sheet strength and feel that, with their continued financial support, the going

concern principle remains appropriate.

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 and services, 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.

Plant and machinery

-

15% on reducing balance and 10% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making

due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

85,070

Additions

5,153

At 30 April 2016

90,223

DEPRECIATION

At 1 May 2015

25,361

Charge for year

8,996

At 30 April 2016

34,357

NET BOOK VALUE

At 30 April 2016

55,866

At 30 April 2015

59,709

3.

CREDITORS

Creditors include an amount of £ 51,276 (2015 - £ 38,153 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1