S & R Hopley Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01943317 (England and Wales)

S & R HOPLEY LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr R V Hopley

Mr R J Hopley

REGISTERED OFFICE:

Halfhead Farm

Shallowford

Stone

Staffordshire

ST15 0PA

REGISTERED NUMBER:

01943317 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 31 December 2016.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2016 to the date of this

report.

Mr R V Hopley

Mr R J Hopley

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to

small companies.

ON BEHALF OF THE BOARD:

Mr R V Hopley - Director

16 August 2017

FIXED ASSETS

Intangible assets

4

23,025

30,700

Tangible assets

5

1,803,776

1,817,996

Investments

6

50

50

1,826,851

1,848,746

CURRENT ASSETS

Stocks

105,925

132,075

Debtors

7

128,005

74,326

233,930

206,401

CREDITORS

Amounts falling due within one year

8

(172,495

)

(215,663

)

NET CURRENT ASSETS/(LIABILITIES)

61,435

(9,262

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,888,286

1,839,484

PROVISIONS FOR LIABILITIES

(51,820

)

(52,878

)

NET ASSETS

1,836,466

1,786,606

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

1,836,366

1,786,506

SHAREHOLDERS' FUNDS

1,836,466

1,786,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 16 August 2017 and were signed on its behalf by:

Mr R V Hopley - Director

1.	STATUTORY INFORMATION

S & R Hopley 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 Financial Reporting Standard 102 Section

1A "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. The date of

transition to FRS 102 Section 1A was 1 January 2014 and the end comparative period was 31 December 2014.

The financial statements are presented in sterling which is the functional currency of the company and

rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Sale of goods

Turnover from the sale of livestock, crops and wool is recognised when significant risks and rewards of

ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is

probable that the economic benefits associated with the transaction will flow to the company and the costs

incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of

the goods.

Compensation

Income from compensation is recognised when received. The value received is based on either statutory loss

of land from growing crops or temporary land take and disturbance.

Government Grants

Government grants are recognised at the fair value of the asset received or receivable when there is

reasonable assurance that the company will comply with conditions attaching to them and the grants will be

received using the accrual model.

Also included as government grants is the entitlement value of the Basic Payment Scheme which has been

capitalised as an intangible asset.

Rent received

Rental income is recognised using the accrual model.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Basic payment scheme are being amortised evenly over their estimated useful life of nil years.

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.

Agricultural Buildings

-

4 - 10% on reducing balance

Plant and machinery

-

20% on reducing balance and 10% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes

all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition. Deemed cost is used where actual cost is not accurately ascertainable. Provision is made for

damaged, obsolete and slow-moving stock where appropriate.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current

or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates

and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial

statements of current and previous periods. It is recognised in respect of all timing differences, with certain

exceptions. Timing differences are differences between taxable profits and total comprehensive income as

stated in the financial statements that arise from the inclusion of income and expense in tax assessments in

periods different from those in which they are recognised in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the

balance sheet date that are expected to apply to the reversal of timing differences.

Leases

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and

the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge

and the reduction of the outstanding lease liability using the effective interest method. The related

obligations, net of future finance charges, are included in creditors

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2015 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2016

and 31 December 2016

46,050

AMORTISATION

At 1 January 2016

15,350

Charge for year

7,675

At 31 December 2016

23,025

NET BOOK VALUE

At 31 December 2016

23,025

At 31 December 2015

30,700

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2016

1,750,756

514,085

2,264,841

Additions

-

20,408

20,408

Disposals

-

(9,000

)

(9,000

)

At 31 December 2016

1,750,756

525,493

2,276,249

DEPRECIATION

At 1 January 2016

72,137

374,708

446,845

Charge for year

2,195

30,923

33,118

Eliminated on disposal

-

(7,490

)

(7,490

)

At 31 December 2016

74,332

398,141

472,473

NET BOOK VALUE

At 31 December 2016

1,676,424

127,352

1,803,776

At 31 December 2015

1,678,619

139,377

1,817,996

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

Plant and

machinery

etc

£

COST

At 1 January 2016

45,400

Transfer to ownership

(45,400

)

At 31 December 2016

-

DEPRECIATION

At 1 January 2016

16,344

Transfer to ownership

(16,344

)

At 31 December 2016

-

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

29,056

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2016

and 31 December 2016

50

NET BOOK VALUE

At 31 December 2016

50

At 31 December 2015

50

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

7,895

829

Other debtors

111,247

65,603

VAT

3,113

1,963

Prepayments

5,750

5,931

128,005

74,326

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

54,060

66,325

Hire purchase contracts

-

15,200

Trade creditors

38,746

14,819

Tax

16,060

32,934

Social security and other taxes

94

94

Directors' current accounts

52,309

75,166

Accruals

11,226

11,125

172,495

215,663

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

10.	RELATED PARTY DISCLOSURES

Group companies have bank loan arrangements which are secured on the assets of S & R Hopley Limited.