Vellacott Farms Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05041340 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2017

FOR

VELLACOTT FARMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Vellacott

Mrs P J Vellacott

SECRETARY:

Mrs P J Vellacott

REGISTERED OFFICE:

Mitchells Chartered Accounts

St. John's House

Castle Street

Taunton

Somerset

TA1 4AY

REGISTERED NUMBER:

05041340 (England and Wales)

ACCOUNTANTS:

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

-

20,065

-

20,065

CURRENT ASSETS

Cash in hand

200

200

CREDITORS

Amounts falling due within one year

5

54,064

52,946

NET CURRENT LIABILITIES

(53,864

)

(52,746

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(53,864

)

(32,681

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

6

(54,064

)

(32,881

)

SHAREHOLDERS' FUNDS

(53,864

)

(32,681

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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 29 November 2017 and were signed on its behalf by:

D J Vellacott - Director

1.	STATUTORY INFORMATION

Vellacott 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.

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.

Quota are being amortised evenly over their estimated useful life of nil years.

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

-

15% on cost and 15% on cost

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.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 6 April 2016

and 5 April 2017

11,370

AMORTISATION

At 6 April 2016

and 5 April 2017

11,370

NET BOOK VALUE

At 5 April 2017

-

At 5 April 2016

-

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 6 April 2016

and 5 April 2017

77,923

DEPRECIATION

At 6 April 2016

57,858

Charge for year

20,065

At 5 April 2017

77,923

NET BOOK VALUE

At 5 April 2017

-

At 5 April 2016

20,065

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.17

5.4.16

£

£

Trade creditors

54,064

52,796

Taxation and social security

-

150

54,064

52,946

6.

RESERVES

Retained

earnings

£

At 6 April 2016

(32,881

)

Deficit for the year

(21,183

)

At 5 April 2017

(54,064

)