Padworth Trout Farm Limited - Accounts to registrar (filleted) - small 17.3
Padworth Trout Farm Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| PADWORTH TROUT FARM LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 MARCH 2017 |
| PADWORTH TROUT FARM LIMITED (REGISTERED NUMBER: 03033738) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| PADWORTH TROUT FARM LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Town Wall House |
| Balkerne Hill |
| Colchester |
| Essex |
| CO3 3AD |
| BANKERS: |
| 55 Above Bar Street |
| Southampton |
| SO14 7DZ |
| PADWORTH TROUT FARM LIMITED (REGISTERED NUMBER: 03033738) |
| BALANCE SHEET |
| 31 MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| PADWORTH TROUT FARM LIMITED (REGISTERED NUMBER: 03033738) |
| BALANCE SHEET - continued |
| 31 MARCH 2017 |
| 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 behalf by: |
| PADWORTH TROUT FARM LIMITED (REGISTERED NUMBER: 03033738) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| Padworth Trout Farm Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Transition to financial reporting standard 102 section 1a |
| This is the first year that the company has presented its financial statements under Financial Reporting |
| Standard 102 Section 1A (FRS 102 1A) issued by the Financial Reporting Council. The last financial statements |
| for the year ended 31 March 2016 were prepared under previous UK GAAP, and the transition date to FRS |
| 102 1A is therefore 1 April 2015. |
| No changes of accounting policies were required to comply with the new standard. |
| Turnover |
| Turnover is the total amount receivable by the company for goods supplied and services provided, excluding |
| VAT and trade discounts. |
| Depreciation |
| Freehold property | - |
| Plant and machinery | - |
| Tanks and Raceways | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value. |
| 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. |
| PADWORTH TROUT FARM LIMITED (REGISTERED NUMBER: 03033738) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred taxation |
| 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. |
| Research and development |
| Research and development expenditure is written off in the year in which it is incurred. |
| Pension costs |
| The company operates a defined contribution pension scheme for employees. The assets of the scheme are |
| held separately from those of the company. The annual contributions payable are charged to the income |
| statement. |
| Deferred government grants |
| Deferred government grants in respect of capital expenditure are treated as deferred income and are |
| credited to the income statement over the estimated useful life of the assets to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Tanks and | Computer |
| property | machinery | Raceways | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 | 147,841 | 6,676 | 109,853 | - | 264,370 |
| Included within the cost of freehold property is land of £100,000 which is not subject to a depreciation |
| charge. |
| PADWORTH TROUT FARM LIMITED (REGISTERED NUMBER: 03033738) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts due from related undertakings |
| Other debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts due to related undertakings |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Deferred government grants |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Bank borrowings are secured by a legal mortgage over the freehold property dated 11 June 2015, and fixed |
| and floating charges over the company's assets dated 4 June 2015. |
| PADWORTH TROUT FARM LIMITED (REGISTERED NUMBER: 03033738) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 230,000 | 230,000 |
| 10. | TRANSACTIONS WITH THE DIRECTORS |
| A loan of £18,000 was repaid by Mr C. G. Saunders-Davies trading as Test Valley Trout during the year. At the |
| year end £Nil (2016: £18,000) was outstanding from Mr C. G. Saunders-Davies trading as Test Valley Trout in |
| respect to the loan. |
| 11. | FIRST YEAR ADOPTION |
| There is no impact of the transition to FRS 102 Section 1A on the value of equity or profit reported under the |
| previous financial reporting framework. |