Corb Farms Limited - Accounts to registrar

REGISTERED NUMBER: 04452368 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

CORB FARMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A I Corb

SECRETARY:

Mrs J B M Smith

REGISTERED OFFICE:

178-180 Hotwell Road

Bristol

BS8 4RP

REGISTERED NUMBER:

04452368 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Investment property

4

323,400

291,060

CURRENT ASSETS

Cash at bank

23,051

25,243

CREDITORS

Amounts falling due within one year

5

1,780

1,847

NET CURRENT ASSETS

21,271

23,396

TOTAL ASSETS LESS CURRENT
LIABILITIES

344,671

314,456

CAPITAL AND RESERVES

Called up share capital

6

100

Retained earnings

7

344,571

314,356

SHAREHOLDERS' FUNDS

344,671

314,456

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 director acknowledges his 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 director on 11 November 2017 and were signed by:

A I Corb - Director

1.	STATUTORY INFORMATION

Corb Farms 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 as modified by the revaluation of certain assets.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

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 that have

been enacted or substantively enacted by the balance sheet date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

291,060

Revaluations

32,340

At 31 March 2017

323,400

NET BOOK VALUE

At 31 March 2017

323,400

At 31 March 2016

291,060

Cost or valuation at 31 March 2017 is represented by:

£

Valuation in 2015

240,040

Valuation in 2016

16,170

Valuation in 2017

32,340

Cost

34,850

323,400

A professional valuation of the land held by the company has not been carried out. However, the

director has valued the land at the year end based on the average price per acre of farmland in the

area and considers this to be a reliable estimate of the land at the year-end.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade creditors

892

959

Other creditors

888

1,780

1,847

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

100

Ordinary

£1

100

7.

RESERVES

Retained

earnings

£

At 1 April 2016

314,356

Profit for the year

30,215

At 31 March 2017

344,571

8.	ULTIMATE CONTROLLING PARTY

The company was under control of its sole shareholder, The E-Med International Pension Trust of

which Mr I S Gillbe is a beneficiary.

Corb Farms Limited - Accounts to registrar - small 17.1

Corb Farms Limited - Accounts to registrar - small 17.1