P_AND_P_HOWLETT_&_SON_FAR - Accounts

The company made the following loans and advances to directors:

During the year £7,948 was advanced to the directors and £7,948 was subsequently repaid. The balance owed by the directors at the beginning of the year was £nil and at the end of the year was £nil. Interest is charged at 3% and the loan is unsecured and has no repayment terms.

The company had the following capital commitments and contingencies:

The company had bank loans and overdrafts totalling £126,743 (2016 - £162,626) and net obligations under finance leases and hire purchase contracts totalling £51,750 (2016 - £13,753) which are secured.

The bank loans are secured on a fixed and floating charge over the assets of the company and the finance leases and HP contracts are secured over the assets concerned.

P and P Howlett & Son Farming Limited is a private company limited by shares incorporated in England and Wales. The registered office is Leeward House, Fitzroy Road, Exeter Business Park, EXETER, Devon, EX1 3LJ.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

For the year ended 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.