Fruin Farm Ltd - Accounts to registrar (filleted) - small 17.3
Fruin Farm Ltd - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| FRUIN FARM LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| FRUIN FARM LTD (REGISTERED NUMBER: SC490242) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| FRUIN FARM LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Suite 525 |
| Baltic Chambers |
| 50 Wellington Street |
| GLASGOW |
| G2 6HJ |
| FRUIN FARM LTD (REGISTERED NUMBER: SC490242) |
| BALANCE SHEET |
| 31 MARCH 2017 |
| 31.3.17 | 31.3.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| 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. |
| FRUIN FARM LTD (REGISTERED NUMBER: SC490242) |
| BALANCE SHEET - continued |
| 31 MARCH 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| FRUIN FARM LTD (REGISTERED NUMBER: SC490242) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| Fruin Farm Ltd is a |
| number and registered office address can be found on the Company Information page. |
| The principal activity of the company is that of a café, restaurant and craft shop. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| SIGNIFICANT JUDGEMENTS AND ESTIMATES |
| The preparation of these financial statements requires management to make judgements, estimates and |
| assumptions that affect the application of policies and reported amounts of assets and liabilities, income and |
| expenses. |
| Judgements and estimates are continually evaluated and are based on historical experiences and other factors, |
| including expectations of future events that are believed to be reasonable under the circumstances. |
| 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| 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 balance sheet date. |
| FRUIN FARM LTD (REGISTERED NUMBER: SC490242) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| CASH FLOW STATEMENT |
| The company has applied the exemption within Section 1A of Financial Reporting Standard 102 "The Financial |
| Reporting Standard applicable in the UK and Republic of Ireland" and as a result has elected not to prepare a |
| cash flow statement. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 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 |
| Included in cost of land and buildings is freehold land of £ 40,000 (2016 - £ 40,000 ) which is not depreciated. |
| Included within the NBV of assets are amounts held under hire purchase contracts of £9,571 (2016: £12,762). |
| The depreciation charged in the year on these assets amounted to £3,191 (2016: £4,254). |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Other debtors |
| FRUIN FARM LTD (REGISTERED NUMBER: SC490242) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Hire purchase contracts |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Hire purchase contracts |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans due after 5yrs by |
| instalments | 550,000 | 555,000 |
| 550,000 | 555,000 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Other loans | 570,000 | 570,000 |
| Other loans are secured on the assets, including the land and property, of the company. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.17 | 31.3.16 |
| value: | £ | £ |
| Ordinary A | 1 | 60,000 | 60,000 |
| Ordinary B | 1 | 60,000 | 60,000 |
| 120,000 | 120,000 |
| 11. | ULTIMATE CONTROLLING PARTY |
| In the opinion of the directors there is no single controlling party. |
| FRUIN FARM LTD (REGISTERED NUMBER: SC490242) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 12. | FIRST YEAR ADOPTION |
| This is the first set of financial statements prepared by the company in accordance with accounting standards |
| issued by the Financial Reporting Council, including FRS 102 "The Financial Reporting Standard applicable in |
| the UK and Republic of Ireland". The company transitioned from previously extant UK GAAP to FRS 102 as at |
| 1 April 2015. The reported financial position and financial performance for the previous period are not affected |
| by transition to FRS 102. |
| 13. | POST BALANCE SHEET EVENTS |
| There have been no significant events affecting the company since the year end date. |