Park Farm Power Ltd - Accounts to registrar - small 17.1

REGISTERED NUMBER: 07457741 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2017

for

Park Farm Power Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Fogg

Mrs R J Fogg

REGISTERED OFFICE:

Cliffe Hill House

22-26 Nottingham Road

Stapleford

Nottingham

NG9 8AA

REGISTERED NUMBER:

07457741 (England and Wales)

ACCOUNTANTS:

LING PHIPP

Cliffe Hill House

22-26 Nottingham Road

Stapleford

Nottingham

NG9 8AA

FIXED ASSETS

Tangible assets

4

60,400

67,004

CURRENT ASSETS

Debtors

5

4,651

3,683

Cash at bank

45

1,985

4,696

5,668

CREDITORS

Amounts falling due within one year

6

130,145

127,616

NET CURRENT LIABILITIES

(125,449

)

(121,948

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(65,049

)

(54,944

)

CREDITORS

Amounts falling due after more than one year

7

-

2,400

NET LIABILITIES

(65,049

)

(57,344

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(65,051

)

(57,346

)

SHAREHOLDERS' FUNDS

(65,049

)

(57,344

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 8 May 2017 and were signed on its behalf by:

Mr A Fogg - Director

1.	STATUTORY INFORMATION

Park Farm Power Ltd 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.

Turnover

Turnover 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.

Plant and machinery etc

-

10% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2016

and 31 January 2017

971

113,722

114,693

DEPRECIATION

At 1 February 2016

-

47,689

47,689

Charge for year

-

6,604

6,604

At 31 January 2017

-

54,293

54,293

NET BOOK VALUE

At 31 January 2017

971

59,429

60,400

At 31 January 2016

971

66,033

67,004

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

Plant and

machinery

etc

£

COST

At 1 February 2016

113,722

Transfer to ownership

(113,722

)

At 31 January 2017

-

DEPRECIATION

At 1 February 2016

47,689

Transfer to ownership

(47,689

)

At 31 January 2017

-

NET BOOK VALUE

At 31 January 2017

-

At 31 January 2016

66,033

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade debtors

-

1,069

Other debtors

4,651

2,614

4,651

3,683

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Hire purchase contracts

-

14,400

Trade creditors

1,055

-

Taxation and social security

-

109

Other creditors

129,090

113,107

130,145

127,616

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.17

31.1.16

£

£

Hire purchase contracts

-

2,400

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.17

31.1.16

£

£

Hire purchase contracts

-

16,800

Mr A and Mrs R J Fogg, who are the directors of Park Farm Power Ltd, have given personal guarantees to the finance

company regarding the hire purchase of the company's wind turbine. They have unconditionally and irrevocably guaranteed

all financial obligations of the company under the terms of the agreement.

9.	FIRST YEAR ADOPTION

This is the first year of adopting FRS102 section 1A and other than presentational differences no material adjustments to

the figures have been required.