Craigadam Farm Limited - Accounts to registrar (filleted) - small 17.3
Craigadam Farm Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30th April 2017 |
| for |
| Craigadam Farm Limited |
| Craigadam Farm Limited (Registered number: SC153308) |
| Contents of the Financial Statements |
| for the Year Ended 30th April 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 | to | 6 |
| Report of the Accountants | 7 |
| Craigadam Farm Limited |
| Company Information |
| for the Year Ended 30th April 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Dumfries Enterprise Park |
| Heathhall |
| Dumfries |
| DUMFRIESSHIRE |
| DG1 3SJ |
| BANKERS: |
| 68 Whitesands |
| Dumfries |
| Dumfries & Galloway |
| DG1 2PG |
| Craigadam Farm Limited (Registered number: SC153308) |
| Balance Sheet |
| 30th April 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 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 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 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. |
| 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 |
| Craigadam Farm Limited (Registered number: SC153308) |
| Notes to the Financial Statements |
| for the Year Ended 30th April 2017 |
| 1. | STATUTORY INFORMATION |
| Craigadam Farm Limited is a |
| and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax, during the year. The company sells |
| livestock and associated byproducts as well as game shooting rights. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Amounts written off each asset over the estimated useful life represent cost less residual value. |
| 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. |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
| purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
| their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the |
| future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Craigadam Farm Limited (Registered number: SC153308) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th April 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are |
| readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
| Trade debtors |
| Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of |
| business. |
| Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged |
| to customers, including any amounts charged on for third parties. |
| Trade creditors |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from |
| suppliers. |
| Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the |
| reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an |
| unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current |
| liabilities. |
| Borrowings |
| Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are |
| subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount |
| due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1st May 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30th April 2017 |
| DEPRECIATION |
| At 1st May 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30th April 2017 |
| NET BOOK VALUE |
| At 30th April 2017 |
| At 30th April 2016 |
| Craigadam Farm Limited (Registered number: SC153308) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th April 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 30th April 2017 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 1999 | 186,626 | - | 186,626 |
| Cost | 531,428 | 121,160 | 652,588 |
| 718,054 | 121,160 | 839,214 |
| Land and buildings include buildings which originally cost £263,374. These buildings were revalued by Thomson, Roddick |
| & Laurie, on 21st July 1999, on an open market basis, at £450,000. This revaluation has been incorporated in the accounts. |
| The revaluation did not include the farmland. |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST OR VALUATION |
| At 1st May 2016 |
| Additions |
| At 30th April 2017 |
| DEPRECIATION |
| At 1st May 2016 |
| Charge for year |
| At 30th April 2017 |
| NET BOOK VALUE |
| At 30th April 2017 |
| At 30th April 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1st May 2016 |
| and 30th April 2017 |
| NET BOOK VALUE |
| At 30th April 2017 |
| At 30th April 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Amounts owed by participating interests | 70,511 | 64,501 |
| Other debtors |
| Craigadam Farm Limited (Registered number: SC153308) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th April 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 18,374 | 20,571 |
| 10. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1st May 2016 |
| Amortised Revaluation Reserve | (8,175 | ) |
| At 30th April 2017 |
| 11. | RELATED PARTY DISCLOSURES |
| As at 30th April 2017 the company owed the sum of £31,607 (2016 - £20,987) to Mr & Mrs R Pickup by way of a directors' |
| current account. This sum is interest free and has no fixed date for repayment. |
| 12. | ULTIMATE CONTROLLING PARTY |
| Mr & Mrs R Pickup, who own 100% of the voting capital of the company between them, have ultimate control of the |
| company. |
| Craigadam Farm Limited |
| Report of the Accountants to the Directors of |
| Craigadam Farm Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
| financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. |
| Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are |
| not required to be filed with the Registrar of Companies. |
| As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th April 2017 set out on pages three to eight and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| Dumfries Enterprise Park |
| Heathhall |
| Dumfries |
| DUMFRIESSHIRE |
| DG1 3SJ |