J C Thompson (Stoneland Farm) Limited - Period Ending 2016-07-31

Registration number: 00822023

J C Thompson (Stoneland Farm) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

J C Thompson (Stoneland Farm) Limited
Contents

Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

J C Thompson (Stoneland Farm) Limited
(Registration number: 00822023)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					67,628			95,742
Current assets
Stocks					4,896			-
Debtors					47,214			16,905
Cash at bank and in hand					78,029			35,927
					130,139			52,832
Creditors: Amounts falling due within one year					(34,995)			(29,239)
Net current assets					95,144			23,593
Total assets less current liabilities					162,772			119,335
Provisions for liabilities					(3,438)			-
Net assets					159,334			119,335
Capital and reserves
Called up share capital		3			15,500			15,500
Profit and loss account					143,834			103,835
Shareholders' funds					159,334			119,335

For the year ending 31 July 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 director acknowledges his 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 director on 30 May 2017

Mr M J Thompson Director

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J C Thompson (Stoneland Farm) Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 July 2016

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. The sale of crops is recognised over the period in which the grazing licence relates to.

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
Land and Buildings	0% straight line
Plant and machinery	15% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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J C Thompson (Stoneland Farm) Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 July 2016

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		266,164			266,164
Disposals		(25,000)			(25,000)
At 31 July 2016		241,164			241,164
Depreciation
At 1 August 2015		170,422			170,422
Charge for the year		3,114			3,114
At 31 July 2016		173,536			173,536
Net book value
At 31 July 2016		67,628			67,628
At 31 July 2015		95,742			95,742

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		15,500			15,500			15,500			15,500

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