Proctor Bros (Wingland) Limited - Dormant company accounts 11.4.1

REGISTERED NUMBER: 01620917 (England and Wales)

PROCTOR BROS (WINGLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

4

DIRECTORS:

Mr S J A Proctor

Mr J H Proctor OBE

SECRETARY:

Mr J H Proctor OBE

REGISTERED OFFICE:

C/o Duncan & Toplis

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

REGISTERED NUMBER:

01620917 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

FIXED ASSETS

Tangible assets

2

103,364

CURRENT ASSETS

Debtors

1,138,887

1,323,548

Cash at bank

-

752

1,138,887

1,324,300

CREDITORS

Amounts falling due within one year

-

185,413

NET CURRENT ASSETS

1,138,887

TOTAL ASSETS LESS CURRENT LIABILITIES

1,242,251

CAPITAL AND RESERVES

Called up share capital

3

500

Share premium

170,670

Capital redemption reserve

500

Profit and loss account

1,070,581

SHAREHOLDERS' FUNDS

1,242,251

The company is entitled to exemption from audit under Section 480 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17 December 2014 and were signed on its behalf by:

Mr S J A Proctor - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Following the completion of the sales of the crops from the 2011 harvest this company will become dormant with all trade

and assets becoming part of the parent company Proctor Bros (Long Sutton) Limited. No adjustments are needed to the

carrying value of assets in respect of this transaction.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

The company was dormant throughout the year ended 31 March 2014. However, reference to information relating to the

year ended 31 March 2013 has been made where appropriate.

Turnover

Turnover represents net invoiced sales of produce and work done, excluding value added tax.

Sales of produce are recognised upon despatch.

The Single Farm Payment is recognised in the financial statements in accordance with current H.M. Revenue & Customs

guidance.

Intangible fixed assets

Amounts paid for the purchase of sugar beet quota have been capitalised and are depreciated by equal annual instalments

over four years with the period in which depreciation starts being the year in which the benefit of the quota first becomes

available.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on cost

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

103,364

NET BOOK VALUE

At 31 March 2014

103,364

At 31 March 2013

103,364

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

500

Ordinary

1

500

4.	ULTIMATE PARENT COMPANY

Proctor Bros (Long Sutton) Limited is regarded by the directors as being the company's ultimate parent company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial

statements, from which these unaudited financial statements (set out on pages two to three) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Proctor Bros (Wingland) Limited for the year ended 31 March 2014 which comprise the Profit and Loss Account, the

Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have

given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical

and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Proctor Bros (Wingland) Limited, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Proctor Bros

(Wingland) Limited and state those matters that we have agreed to state to the Board of Directors of Proctor Bros (Wingland)

Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted

by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our

work or for this report.

It is your duty to ensure that Proctor Bros (Wingland) Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Proctor Bros (Wingland)

Limited. You consider that Proctor Bros (Wingland) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Proctor Bros (Wingland) Limited. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have

given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

17 December 2014