Roger Twidale Farms Limited - Accounts to registrar - small 17.1

Roger Twidale Farms Limited - Accounts to registrar - small 17.1

ROGER TWIDALE FARMS LIMITED - Company Information

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REGISTERED NUMBER: 01231073 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2016

for

Roger Twidale Farms Limited

Roger Twidale Farms Limited (Registered number: 01231073)






Contents of the Financial Statements
for the year ended 30 September 2016




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Roger Twidale Farms Limited

Company Information
for the year ended 30 September 2016







DIRECTORS: R J Twidale
M Twidale
N E Twidale





SECRETARY: J H Twidale





REGISTERED OFFICE: Wolds Farm
Widmerpool
Nottingham
Nottinghamshire
NG12 5QE





REGISTERED NUMBER: 01231073 (England and Wales)





ACCOUNTANTS: Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR
Page 1
Roger Twidale Farms Limited (Registered number: 01231073)

Abridged Balance Sheet
30 September 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 29,684 2,954,946
Investment property 5 3,699,358 -
3,729,042 2,954,946

CURRENT ASSETS
Inventories 8,690 177,960
Debtors 51,595 194,310
Cash at bank 84,915 83,859
145,200 456,129
CREDITORS
Amounts falling due within one year 536,454 88,440
NET CURRENT (LIABILITIES)/ASSETS (391,254 ) 367,689
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,337,788
3,322,635

CREDITORS
Amounts falling due after more than
one year
6
-
(22,500
)

PROVISIONS FOR LIABILITIES (300,567 ) (359,203 )
NET ASSETS 3,037,221 2,940,932

CAPITAL AND RESERVES
Called up share capital 8 100 100
Non distributable profit reserve 1,394,096 1,392,392
Retained earnings 1,643,025 1,548,440
SHAREHOLDERS' FUNDS 3,037,221 2,940,932

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 notes form part of these financial statements

Page 2 continued...
Roger Twidale Farms Limited (Registered number: 01231073)

Abridged Balance Sheet - continued
30 September 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 5 April 2017 and were signed on its
behalf by:





R J Twidale - Director


The notes form part of these financial statements

Page 3
Roger Twidale Farms Limited (Registered number: 01231073)

Notes to the Financial Statements
for the year ended 30 September 2016

1. STATUTORY INFORMATION

Roger Twidale Farms Limited is a private company, limited by shares , registered in England and
Wales. The company's registered number and registered office address can be found on the
Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year that the company has presented its financial statements under Financial
Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council.

The last financial statements, for the one ended 30th September 2015, were prepared under
previous UK GAAP. The transition date to FRS 102 is therefore 1st October 2014.

Adopting FRS 102 has meant that the following accounting policy has changed to comply with the
new standard as follows:

- Deferred tax
Under previous GAAP, no deferred tax was recognised in respect of timing differences originating
on the revaluation of investment properties. Such timing differences are now recognised giving rise
to a provision for the deferred liability.

The reconciliation between the financial statements as previously prepared under UK GAAP and the
changes arising due to the transition to FRS 102 can be found further in these notes to the
financial statements.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

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 buildings - at varying rates on cost
Freehold land - not provided
Implements and machinery - 15% and 33.3% on reducing balance
Tractors and trailers - at variable rates on reducing balance
Motor vehicles - 25% on reducing balance
Drainage - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising
from changes in fair value is recognised in profit or loss.

Stocks
Inventories 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.

Page 4 continued...
Roger Twidale Farms Limited (Registered number: 01231073)

Notes to the Financial Statements - continued
for the year ended 30 September 2016

2. ACCOUNTING POLICIES - continued

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 profit or loss over the relevant period. The
capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments held as fixed assets are stated at cost less provisions for any permanent diminution in
value.

Government grants and subsidies
Government grants made to compensate for a loss of current or future income are recognised in
the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2015 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 October 2015 3,409,412
Additions 279,688
Disposals (3,603,449 )
At 30 September 2016 85,651
DEPRECIATION
At 1 October 2015 454,466
Charge for year 10,010
Eliminated on disposal (408,509 )
At 30 September 2016 55,967
NET BOOK VALUE
At 30 September 2016 29,684
At 30 September 2015 2,954,946

Page 5 continued...
Roger Twidale Farms Limited (Registered number: 01231073)

Notes to the Financial Statements - continued
for the year ended 30 September 2016

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 October 2015 225,000
Disposals (225,000 )
At 30 September 2016 -
DEPRECIATION
At 1 October 2015 62,437
Eliminated on disposal (62,437 )
At 30 September 2016 -
NET BOOK VALUE
At 30 September 2016 -
At 30 September 2015 162,563

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 3,699,358
At 30 September 2016 3,699,358
NET BOOK VALUE
At 30 September 2016 3,699,358

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2016 2015
£    £   
Hire purchase contracts - 22,500

7. SECURED DEBTS

The following secured debts are included within creditors:

2016 2015
£    £   
Hire purchase contracts - 45,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
94 Ordinary £1 94 100
(2015 - 100 )
6 Preference £1 6 -
100 100

Page 6 continued...
Roger Twidale Farms Limited (Registered number: 01231073)

Notes to the Financial Statements - continued
for the year ended 30 September 2016

8. CALLED UP SHARE CAPITAL - continued

On the 20th June 2016 6 of the companies ordinary share capital were re-classified as preference
shares at cost value. The new preference shares have the right to receive the first £100,000 of
dividend.

Page 7