NETTLEBED_FARM_CONTRACTOR - Accounts

NETTLEBED FARM CONTRACTORS LIMITED - Company Information

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Company Registration No. 02117917 (England and Wales)

NETTLEBED FARM CONTRACTORS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

NETTLEBED FARM CONTRACTORS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

NETTLEBED FARM CONTRACTORS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,485,850

1,805,699

Investments

415,000

1,900,850

1,805,699

Current assets

Debtors

2,155

2,227

Cash at bank and in hand

26,870

62,340

29,025

64,567

Creditors: amounts falling due within one year

(142,101)

(124,085)

Net current liabilities

(113,076)

(59,518)

Total assets less current liabilities

1,787,774

1,746,181

Creditors: amounts falling due after more than one year

(587,813)

(591,554)

Provisions for liabilities

(147)

(740)

1,199,814

1,153,887

Capital and reserves

Called up share capital

Revaluation reserve

272,735

280,495

Profit and loss account

927,077

873,390

Shareholders' funds

1,199,814

1,153,887

NETTLEBED FARM CONTRACTORS 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 28 May 2017

Mr M J Martin

Mrs E S A Martin

Director

Company Registration No. 02117917

NETTLEBED FARM CONTRACTORS 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 modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for rents and goods and services.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

2% per annum on cost.

Plant and machinery

25% per annum on written down value.

Pub equipment

25% per annum on written down value.

Fixtures, fittings & equipment

25% per annum on written down value.

Motor vehicles

25% per annum on written down value

Due to the residual value of one of the company's freehold buildings exceeding cost, the depreciation charge calculated in accordance with the company's accounting policy for that property is £nil.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.4

Investments

Fixed asset investments are stated at cost.

1.5

Investment properties

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

NETTLEBED FARM CONTRACTORS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 October 2015

1,855,540

Additions

1,358

415,000

416,358

Disposals

(336,532)

At 30 September 2016

1,520,366

415,000

1,935,366

Depreciation

At 1 October 2015

49,841

On disposals

(19,586)

Charge for the year

4,261

At 30 September 2016

34,516

Net book value

At 30 September 2016

1,485,850

415,000

1,900,850

At 30 September 2015

1,805,699

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £12,069 (2015 - £24,962).

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total not repayable by instalments and due in more than five years

500,000

Total amounts repayable by instalments which are due in more than five years

(54,012)

(33,479)

The aggregate amount of creditors for which security has been given amounted to £587,813 (2015 - £591,554).

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each