ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

REDCOATS FARMHOUSE LIMITED - Company Information

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00830443 2015-11-01 false true 2016-10-312016-10-31 00830443 2015-11-01 2016-10-31 00830443 2016-10-31 00830443 2015-10-31 00830443 c:MotorVehicles 2015-11-01 2016-10-31 00830443 c:FixturesFittingsToolsEquipment 2015-11-01 2016-10-31 00830443 d:OrdinaryShareClass1 2016-10-31 00830443 d:OrdinaryShareClass1 2015-10-31 00830443 d:OrdinaryShareClass1 2015-11-01 2016-10-31 00830443 d:Director2 2015-11-01 2016-10-31 00830443 c:ComputerEquipment 2015-11-01 2016-10-31 00830443 c:LandBuildings c:ShortLeaseholdProperties 2015-11-01 2016-10-31 xbrli:shares iso4217:GBP

Registered number: 00830443









REDCOATS FARMHOUSE LIMITED







UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016
 
REDCOATS FARMHOUSE LIMITED
REGISTERED NUMBER: 00830443

ABBREVIATED BALANCE SHEET
AS AT 31 OCTOBER 2016

2016
2015
Note
£
£
£
£
 
FIXED ASSETS





 
Tangible assets
 
2
142,839
154,340
 
CURRENT ASSETS





 
Stocks
16,131
21,489

 
Debtors
34,209
31,881

 
Cash at bank

26,034
16,973







 
76,374
70,343
 
CREDITORS: amounts falling due within one year
(369,659)
(309,048)
 
NET CURRENT LIABILITIES


(293,285)

(238,705)
 
TOTAL ASSETS LESS CURRENT LIABILITIES
(150,446)
(84,365)
 
CREDITORS: amounts falling due after more than one year
3
(15,000)

(22,500)

NET LIABILITIES




 (165,446)


 (106,865)
  
CAPITAL AND RESERVES

 
Called up share capital
4
2,365
2,365
 
Profit and loss account
(167,811)
(109,230)
 
SHAREHOLDERS' DEFICIT
 

 (165,446)

 (106,865)


The Directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the Company as at 31 October 2016 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.


Page 1
 
REDCOATS FARMHOUSE LIMITED
 
    
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 OCTOBER 2016

The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by: 





P Butterfield
Director

Date: 21 July 2017

The notes on pages 3 to 4 form part of these financial statements.

Page 2
 
REDCOATS FARMHOUSE LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

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).

1.2
Turnover

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.3
Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.  Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

S/Term Leasehold Property
-
4% straight line
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
15% straight line
Computer equipment
-
33% straight line


2.TANGIBLE FIXED ASSETS



£


Cost 


At 1 November 2015
291,975

Additions
10,425

Disposals
(2,000)


At 31 October 2016

300,400



Depreciation


At 1 November 2015
137,635

Charge for the year
21,926

On disposals
(2,000)


At 31 October 2016

157,561




Net book value


At 31 October 2016
 142,839


At 31 October 2015

 154,340


3.CREDITORS:
Amounts falling due after more than one year
A loan of £30,000 provided by the Redcoats Trust is secured on the stock, fixtures and fittings, computer equipment and conservatory of the hotel.

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REDCOATS FARMHOUSE LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016

4.SHARE CAPITAL
        2016
        2015
        £

        £

Allotted, called up and fully paid



2,365 Ordinary shares of £1 each
 2,365
 2,365


5.RELATED PARTY TRANSACTIONS


The Company occupies property jointly owned by the Redcoats Trust, Mrs J G Gainsford and Mr P G E
Butterfield, who are also shareholders. A rental charge of £36,000 (2015: £36,000) per annum has been
charged.
At 31 October 2016 the Redcoats Trust loan amounted to £44,321 (2015: £44,321) and the amounts due to or (from) Mr P G E Butterfield and Mrs J G Gainsford were £36,461 (2015: £19,632) and £40,133 (2015: £23,304) respectively. There are no terms relating to repayment or interest in respect of these balances.
Mr P G E Butterfield and Mrs J G Gainsford have provided security for the Company's overdraft.
Mr P G E Butterfield and Mrs J G Gainsford live on the Company premises, in order to fulfil their duties as
joint managing Directors, and the value of this benefit in kind for taxation purposes is included in the
disclosure of Directors remuneration.



6.CONTROLLING PARTY

There is no ultimate controlling party in this or prior years.

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