Hearthstone Farm Limited - Accounts to registrar - small 17.2

Hearthstone Farm Limited - Accounts to registrar - small 17.2

HEARTHSTONE FARM LIMITED - Company Information

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REGISTERED NUMBER: 02011176 (England and Wales)















HEARTHSTONE FARM LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017






HEARTHSTONE FARM LIMITED (REGISTERED NUMBER: 02011176)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2017










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


HEARTHSTONE FARM LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2017







DIRECTORS: Mrs J Gilman
Mr. I V Gilman
Mrs A J Challis





SECRETARY: Mrs A J Challis





REGISTERED OFFICE: Hearthstone Farm
Riber
Matlock
Derbyshire
DE4 5JW





REGISTERED NUMBER: 02011176 (England and Wales)





ACCOUNTANTS: The Rees Partnership
Bentley Bridge House
Chesterfield Road
Matlock
Derbyshire
DE4 5LE
Page 1
HEARTHSTONE FARM LIMITED (REGISTERED NUMBER: 02011176)

ABRIDGED BALANCE SHEET
31 March 2017

2017 2016
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 42,784 59,922
Investments 6 5 5
42,789 59,927

CURRENT ASSETS
Stocks 44,396 28,893
Debtors 2,263 1,808
Cash at bank 35,568 42,453
82,227 73,154
CREDITORS
Amounts falling due within one year (72,646 ) (72,739 )
NET CURRENT ASSETS 9,581 415
TOTAL ASSETS LESS CURRENT
LIABILITIES
52,370
60,342

PROVISIONS FOR LIABILITIES (7,893 ) (11,106 )
NET ASSETS 44,477 49,236

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Retained earnings 4,477 9,236
SHAREHOLDERS' FUNDS 44,477 49,236

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 notes form part of these financial statements

Page 2 continued...
HEARTHSTONE FARM LIMITED (REGISTERED NUMBER: 02011176)

ABRIDGED BALANCE SHEET - continued
31 March 2017


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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 August 2017 and were signed on its
behalf by:




Mrs J Gilman - Director



Mr. I V Gilman - Director


The notes form part of these financial statements

Page 3
HEARTHSTONE FARM LIMITED (REGISTERED NUMBER: 02011176)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2017


1. STATUTORY INFORMATION

Hearthstone Farm 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 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.

The financial statements have been prepared on the going concern basis. No material uncertainties
that may cast significant doubt about the ability of the company to continue as a going concern have
been identified by the directors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1986, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,
except to the extent that it relates to items recognised in other comprehensive income or directly in
equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been
enacted or substantively enacted by the balance sheet date.


Page 4 continued...
HEARTHSTONE FARM LIMITED (REGISTERED NUMBER: 02011176)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2017


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods
different from those in which they are recognised in financial statements. Deferred tax is measured
using tax rates and laws that have been enacted or substantively enacted by the year end and that are
expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all
the risks and rewards of ownership of the asset have passed to the company, are capitalised in the
balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase
obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period
of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on as incurred over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2016
and 31 March 2017 4,471
AMORTISATION
At 1 April 2016
and 31 March 2017 4,471
NET BOOK VALUE

At 31 March 2017 -
At 31 March 2016 -

Page 5 continued...
HEARTHSTONE FARM LIMITED (REGISTERED NUMBER: 02011176)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2017


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2016 139,063
Additions 5,575
Disposals (18,375 )
At 31 March 2017 126,263
DEPRECIATION
At 1 April 2016 79,141
Charge for year 9,217
Eliminated on disposal (4,879 )
At 31 March 2017 83,479
NET BOOK VALUE
At 31 March 2017 42,784
At 31 March 2016 59,922

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2016
and 31 March 2017 5
NET BOOK VALUE
At 31 March 2017 5
At 31 March 2016 5

7. RELATED PARTY DISCLOSURES

Included under other creditors is a loan from the directors to the company of £68,114 (2016 : £68,523).
Maximum amount £68,523. These are interest free with no fixed terms for repayment.

8. ULTIMATE CONTROLLING PARTY

The directors are the ultimate controlling party by virtue of their shareholding.

Page 6