CLIFTON_CASTLE_FARMS_LIMI - Accounts

CLIFTON CASTLE FARMS LIMITED - Company Information

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Company Registration No. 09195350 (England and Wales)

CLIFTON CASTLE FARMS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

CLIFTON CASTLE FARMS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

CLIFTON CASTLE FARMS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

232,071

234,292

Current assets

Stocks

24,592

38,140

Debtors

135,042

171,353

Investments

19,943

26,955

Cash at bank and in hand

7,381

9,869

186,958

246,317

Creditors: amounts falling due within one year

(377,630)

(443,224)

Net current liabilities

(190,672)

(196,907)

Total assets less current liabilities

41,399

37,385

Creditors: amounts falling due after more than one year

(5,590)

Provisions for liabilities

(2,954)

(3,398)

38,445

28,397

Capital and reserves

Called up share capital

100

Profit and loss account

38,345

28,297

Shareholders' funds

38,445

28,397

CLIFTON CASTLE FARMS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2016

- 2 -

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 16 February 2017

The Marquess of Downshire

The Marchioness of Downshire

Director

Company Registration No. 09195350

CLIFTON CASTLE FARMS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 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

Turnover

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

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Land and buildings freehold

Nil

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

1.4

Investments

Current asset investments are stated at the lower of cost and net realisable value.

1.5

Stock and work in progress

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

CLIFTON CASTLE FARMS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 October 2015

239,955

Additions

2,702

At 30 September 2016

242,657

Depreciation

At 1 October 2015

5,663

Charge for the year

4,923

At 30 September 2016

10,586

Net book value

At 30 September 2016

232,071

At 30 September 2015

234,292

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100

Transactions with directors

At the balance sheet date, the company owed the director, Lord Downshire £292,026 (2015: £313,117). During the year a balance of £23,292 was repaid and a balance of £2,201 was advanced. This balance is included within other creditors.