Wood Farm Estate Limited - Period Ending 2016-11-30

Registration number: 06439473

Wood Farm Estate Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2016
 

Wood Farm Estate Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Wood Farm Estate Limited
for the Year Ended 30 November 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wood Farm Estate Limited for the year ended 30 November 2016 set out on pages 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 (ICAEW), 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 Wood Farm Estate 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 accounts of Wood Farm Estate Limited and state those matters that we have agreed to state to them, 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 Wood Farm Estate Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Wood Farm Estate Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Wood Farm Estate Limited. You consider that Wood Farm Estate 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 accounts of Wood Farm Estate 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 accounts.

Thomas Quinn
Accountants
15 Station Road
St Ives
Cambridgeshire
PE27 5BH

15 March 2017

Page 1

Wood Farm Estate Limited
(Registration number: 06439473)
Abbreviated Balance Sheet at 30 November 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					7,640			8,645
Current assets
Debtors					462,318			372,454
Cash at bank and in hand					481			-
					462,799			372,454
Creditors: Amounts falling due within one year					(89,352)			(138,420)
Net current assets					373,447			234,034
Net assets					381,087			242,679
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					381,086			242,678
Shareholders' funds					381,087			242,679

For the year ending 30 November 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 15 March 2017 and signed on its behalf by:

Mrs Margaret Lynne Gemmill
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Wood Farm Estate Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Farm Equipment	25% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2015		9,650			9,650
At 30 November 2016		9,650			9,650
Depreciation
At 1 December 2015		1,005			1,005
Charge for the year		1,005			1,005
At 30 November 2016		2,010			2,010
Net book value
At 30 November 2016		7,640			7,640
At 30 November 2015		8,645			8,645

Page 3

Wood Farm Estate Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
ordinary share of £1 each		1			1			1			1

Page 4