Broomer Farm Trading Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01007863 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

BROOMER FARM TRADING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D A Finnamore

Mrs D Finnamore

Mrs E H Grubb

Miss K A Finnamore

SECRETARY:

D A Finnamore

REGISTERED OFFICE:

The Granary

Brewer Street

Bletchingley

Surrey

RH1 4QP

REGISTERED NUMBER:

01007863 (England and Wales)

ACCOUNTANTS:

Lees Chartered Accountants

The Granary

Brewer Street

Bletchingley

Surrey

RH1 4QP

BANKERS:

Nat West

5 East Street

Chichester

West Sussex

PO19 1HH

SOLICITORS:

Blake Lapthorn

21 Cumberland Place

Southampton

Hampshire

SO15 2BB

FIXED ASSETS

Tangible assets

4

6,247,736

6,266,772

CURRENT ASSETS

Stocks

45,617

50,235

Debtors

5

765,583

370,529

Cash at bank and in hand

307,141

114,112

1,118,341

534,876

CREDITORS

Amounts falling due within one year

6

792,622

812,384

NET CURRENT ASSETS/(LIABILITIES)

325,719

(277,508

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,573,455

5,989,264

CREDITORS

Amounts falling due after more than one year

7

(2,402,833

)

(2,262,610

)

PROVISIONS FOR LIABILITIES

(383,586

)

(401,063

)

NET ASSETS

3,787,036

3,325,591

CAPITAL AND RESERVES

Called up share capital

71,250

71,250

Revaluation reserve

8

1,558,365

1,539,126

Retained earnings

2,157,421

1,715,215

SHAREHOLDERS' FUNDS

3,787,036

3,325,591

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 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 24 November 2017 and were signed on its behalf by:

D A Finnamore - Director

1.	STATUTORY INFORMATION

Broomer Farm Trading 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

in accordance with the property

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Caravans

-

33% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST OR VALUATION

At 1 April 2016

6,000,000

486,801

51,575

Additions

-

85,248

-

At 31 March 2017

6,000,000

572,049

51,575

DEPRECIATION

At 1 April 2016

-

235,344

40,155

Charge for year

-

98,212

4,073

At 31 March 2017

-

333,556

44,228

NET BOOK VALUE

At 31 March 2017

6,000,000

238,493

7,347

At 31 March 2016

6,000,000

251,457

11,420

Motor

vehicles

Caravans

Totals

£

£

£

COST OR VALUATION

At 1 April 2016

10,994

102,650

6,652,020

Additions

-

-

85,248

At 31 March 2017

10,994

102,650

6,737,268

DEPRECIATION

At 1 April 2016

7,099

102,650

385,248

Charge for year

1,999

-

104,284

At 31 March 2017

9,098

102,650

489,532

NET BOOK VALUE

At 31 March 2017

1,896

-

6,247,736

At 31 March 2016

3,895

-

6,266,772

Cost or valuation at 31 March 2017 is represented by:

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

Valuation in 2002

426,392

-

-

Valuation in 2005

997,948

-

-

Valuation in 2014

473,019

-

-

Cost

4,102,641

572,049

51,575

6,000,000

572,049

51,575

Motor

vehicles

Caravans

Totals

£

£

£

Valuation in 2002

-

-

426,392

Valuation in 2005

-

-

997,948

Valuation in 2014

-

-

473,019

Cost

10,994

102,650

4,839,909

10,994

102,650

6,737,268

If leasehold land and buildings had not been revalued they would have been included at the following

historical cost:

31.3.17

31.3.16

£

£

Cost

4,115,357

4,102,641

Leasehold land and buildings were valued on an open market basis on 11 June 2014 by Vail Williams and Lambert Smith Hampton

.

Leases

There are 2 leased properties. The first property has a lease granted for a duration of 125 years dated

2nd November 1971, and at the balance sheet date the remaining length was 80 years 7 months. The

second property has a lease granted for a duration of 999 years (less 10 days) dated 17 December

2002, and at the balance sheet date the remaining length was 985 years 8 months.

5.

DEBTORS

31.3.17

31.3.16

£

£

Amounts falling due within one year:

Trade debtors

124,659

125,375

Other debtors

-

245,154

124,659

370,529

31.3.17

31.3.16

£

£

Amounts falling due after more than one year:

Other debtors

640,924

-

Aggregate amounts

765,583

370,529

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

90,944

135,018

Payments on account

340,154

322,455

Trade creditors

30,283

65,779

Tax

139,339

1,261

VAT

33,972

10,705

Other creditors

112,532

148,238

Directors' current accounts

7,080

107,528

Accrued expenses

38,318

21,400

792,622

812,384

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans - 1-2 years

90,944

81,507

Bank loans - 2-5 years

272,832

244,521

Bank loans more 5 yr by instal

2,039,057

1,936,582

2,402,833

2,262,610

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,039,057

1,936,582

8.

RESERVES

Revaluation

reserve

£

At 1 April 2016

1,539,126

Transfer to revaluation

reserve

19,239

At 31 March 2017

1,558,365

9.	RELATED PARTY DISCLOSURES

The following loans were due to the directors during the year :

31.03.17

31.03.16

£

£

Balance outstanding and due to directors at 1st April

107,528

215,127

Introduced in the year

10,284

77,650

Repaid to directors during the year ended 31st March

(110,732

)

(185,249

)

Balance outstanding and due to directors at 31st March

7,080

107,528