Black Horse Farm Ltd - Accounts to registrar

REGISTERED NUMBER: 07184807 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

BLACK HORSE FARM LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N D Garrett

SECRETARY:

Mrs D P F Garrett

REGISTERED OFFICE:

32 The Square

Gillingham

Dorset

SP8 4AR

REGISTERED NUMBER:

07184807 (England and Wales)

ACCOUNTANTS:

Andrews and Palmer

32 The Square

Gillingham

Dorset

SP8 4AR

FIXED ASSETS

Investment property

4

1,095,794

1,090,000

CURRENT ASSETS

Debtors

5

21,304

13,288

Cash at bank

9,623

54,754

30,927

68,042

CREDITORS

Amounts falling due within one year

6

35,444

64,979

NET CURRENT (LIABILITIES)/ASSETS

(4,517

)

3,063

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,091,277

1,093,063

PROVISIONS FOR LIABILITIES

90,074

NET ASSETS

1,001,203

1,002,989

CAPITAL AND RESERVES

Called up share capital

2,500

Share premium

247,725

Non distributable fair value reserve

7

439,773

Retained earnings

311,205

312,991

SHAREHOLDERS' FUNDS

1,001,203

1,002,989

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 28 October 2017 and were signed by:

N D Garrett - Director

1.	STATUTORY INFORMATION

Black Horse Farm Ltd 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.

Turnover

Turnover represents the net income from renting agricultural land and buildings, excluding value added tax.

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is

provided on these gains at the rate expected to apply when the property is sold.

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.

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

1,090,000

Additions

5,794

At 31 March 2017

1,095,794

NET BOOK VALUE

At 31 March 2017

1,095,794

At 31 March 2016

1,090,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade debtors

21,304

-

VAT

-

236

Prepayments and accrued income

-

10,176

Prepayments

-

2,876

21,304

13,288

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Corporation tax

253

58,268

VAT

3,650

-

Directors' current accounts

30,541

5,911

Accrued expenses

1,000

800

35,444

64,979

7.

RESERVES

Non

distributable

fair

value

reserve

£

At 1 April 2016

and 31 March 2017

439,773

8.	FIRST YEAR ADOPTION

These financial statements for the year ended 31 March 2017 are the first financial statements that comply with

FRS 102 Section 1A small entities. The date of transition is 1 April 2015

The transition to FRS 102 Section 1A small entities has resulted in a change in accounting policies to those used

previously.

The nature of this change has effectively been the inclusion of deferred tax on the revalued gain on Investment

Property at fair value.

Black Horse Farm Ltd - Accounts to registrar - small 17.2

Black Horse Farm Ltd - Accounts to registrar - small 17.2