PH Farming Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC362880 (Scotland)

PH Farming Limited

Financial Statements

for the Year Ended 30th December 2016

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

to

4

Directors:

Mrs J A Robson

M L Robson

Registered office:

Pressen Hill Farm

Kelso

Roxburghshire

TD5 8BW

Registered number:

SC362880 (Scotland)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Investments

3

239,605

239,618

Current assets

Cash in hand

1,800

1,800

Creditors

Amounts falling due within one year

4

1,625

1,200

Net current assets

175

600

Total assets less current liabilities

239,780

240,218

Capital and reserves

Called up share capital

1,800

1,800

Retained earnings

237,980

238,418

Shareholders' funds

239,780

240,218

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors on 26th September 2017 and were signed on its behalf by:

M L Robson - Director

1.	Statutory information

PH Farming Limited is a private company, limited by shares , registered in Scotland. 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.

Changes in accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out

below.

The financial statements for the year ended 31st December 2016 are the first financial statements that

comply with FRS 102 Section 1A for small entities. The date of transition is 1st January 2015.

There has been no impact to the financial statements on the transition date.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade

creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate

of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the

undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss

is recognised in the Income Statement.

Investments

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event

prior to the balance sheet date and that a payment will be required in settlement that can be estimated

reliably.

3.	Fixed asset investments

Other

investments

£

Cost

At 31st December 2015

239,618

Disposals

(13

)

At 30th December 2016

239,605

Net book value

At 30th December 2016

239,605

At 30th December 2015

239,618

4.

Creditors: amounts falling due within one year

2016

2015

£

£

Trade creditors

125

-

Other creditors

1,500

1,200

1,625

1,200