Richard Beldam Farms Limited - Limited company - abbreviated - 11.0.0
Richard Beldam Farms Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts For The Year Ended 31 October 2013 |
| for |
| Richard Beldam Farms Limited |
| Richard Beldam Farms Limited (Registered number: 02092388) |
| Contents of the Abbreviated Accounts |
| For The Year Ended 31 October 2013 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Richard Beldam Farms Limited |
| Company Information |
| For The Year Ended 31 October 2013 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Richard Beldam Farms Limited (Registered number: 02092388) |
| Abbreviated Balance Sheet |
| 31 October 2013 |
| 2013 | 2012 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| 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. |
| The financial statements were approved by the Board of Directors on |
| Richard Beldam Farms Limited (Registered number: 02092388) |
| Notes to the Abbreviated Accounts |
| For The Year Ended 31 October 2013 |
| 1. | ACCOUNTING POLICIES |
| 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). |
| Turnover |
| The turnover shown in the profit and loss account represents amounts receivable for goods and services sold |
| during the year, exclusive of VAT, but does not include the proportion of direct costs recharged to landowners |
| under shared farming agreements, these items being set against the relevant costs incurred by the company. |
| In respect of long-term contracts and contracts for on going services, turnover represents the value of the work |
| done during the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts |
| and contracts for on going services is recognised by reference to the stage of completion. |
| 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 - not provided |
| Plant and machinery etc - 20% on cost, 12.5% on cost |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value. |
| Cost of seeds, fertilisers, sprays and fuels in store is determined principally on a first in first out basis. In the |
| case of harvested crops, cost is based on all direct expenditure incurred in production. Work-in-progress |
| consists of cultivations which are valued on the basis of all direct expenditure incurred. |
| Net realisable value is the price at which the stock can be realised in the normal course of business. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date where transactions or events have occurred at that date that will result in an obligation to |
| pay more, or a right to pay less or to receive more tax, with the following exceptions: |
| - Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed |
| assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the |
| extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. |
| However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more |
| likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the |
| replacement assets are sold. |
| - Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not |
| that there will be suitable taxable profits from which the future reversal of the underlying timing differences can |
| be deducted. |
| Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in |
| which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance |
| sheet date. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's |
| pension scheme are charged to the profit and loss account in the period to which they relate. |
| Richard Beldam Farms Limited (Registered number: 02092388) |
| Notes to the Abbreviated Accounts - continued |
| For The Year Ended 31 October 2013 |
| 1. | ACCOUNTING POLICIES - continued |
| Single farm payment subsidy income |
| Provided that, at the balance sheet date, the company has submitted its single farm payment claim form (which |
| relates to the calendar year in which the balance sheet date falls) on time and the company has also satisfied |
| the relevant control criteria (as set out in the single payment scheme rules) then, provided the directors have not |
| become aware of any breaches in the cross compliance regulations to which the company is subject, the single |
| farm payment subsidy income due to the company is recognised on a pro-rata time basis and accrued in the |
| accounts accordingly. |
| Directors' pension schemes |
| None of the company directors have any interest in any money purchase of defined benefit pension schemes |
| administered by the company. The company did not make any contributions to personal pension schemes held |
| in the personal names of the directors in either the year under review or the preceding year. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 November 2012 |
| Additions |
| At 31 October 2013 |
| DEPRECIATION |
| At 1 November 2012 |
| Charge for year |
| At 31 October 2013 |
| NET BOOK VALUE |
| At 31 October 2013 |
| At 31 October 2012 | 3,166,998 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2013 | 2012 |
| £ | £ |
| Repayable otherwise than by instalments | 875,000 | 1,250,000 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2013 | 2012 |
| value: | £ | £ |
| Ordinary | £1 |
| 5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
rent of £ |