JWB_FARMING_LIMITED - Accounts

JWB FARMING LIMITED - Company Information

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Company Registration No. 08113703 (England and Wales)

JWB FARMING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

JWB FARMING LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

JWB FARMING LIMITED

REPORT TO THE DIRECTOR ON THE PREPARATION OF THE

UNAUDITED STATUTORY ACCOUNTS OF JWB FARMING LIMITED

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 3 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JWB Farming Limited for the year ended 31 May 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of JWB Farming Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of JWB Farming Limited and state those matters that we have agreed to state to the Board of Directors of JWB Farming Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JWB Farming Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that JWB Farming Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JWB Farming Limited. You consider that JWB Farming Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JWB Farming Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ellacotts LLP

28 January 2017

Accountants

Countrywide House

23 West Bar

Banbury

Oxfordshire

England

OX16 9SA

JWB FARMING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

56,571

65,814

Current assets

Stocks

1,440

1,260

Debtors

21,945

18,710

Cash at bank and in hand

25,410

30,209

48,795

50,179

Creditors: amounts falling due within one year

(50,843)

(51,884)

Net current liabilities

(2,048)

(1,705)

Total assets less current liabilities

54,523

64,109

Creditors: amounts falling due after more than one year

(50,000)

4,523

14,109

Capital and reserves

Called up share capital

100

Profit and loss account

4,423

14,009

Shareholder's funds

4,523

14,109

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 January 2017

Mr J W Bonner

Director

Company Registration No. 08113703

JWB FARMING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% reducing balance

Cattle herd

Fixed assets

Tangible assets

Cost

At 1 June 2015

95,792

Additions

1,260

At 31 May 2016

97,052

Depreciation

At 1 June 2015

29,978

Charge for the year

10,503

At 31 May 2016

40,481

Net book value

At 31 May 2016

56,571

At 31 May 2015

65,814

Share capital

2016

2015

Allotted, called up and fully paid

100 ordinary shares of £1 each

100