Norman Jackson (Farmers) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03319586 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

NORMAN JACKSON (FARMERS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J F Jackson

J B Jackson

SECRETARIES:

J F Jackson

J B Jackson

REGISTERED OFFICE:

Ermine House

Appleby

Scunthorpe

North Lincs

DN15 0AB

REGISTERED NUMBER:

03319586 (England and Wales)

ACCOUNTANTS:

Jackson Robson Licence

Chartered Accountants

33-35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

FIXED ASSETS

Tangible assets

4

2,491,471

2,417,571

Investments

5

11,744

11,744

2,503,215

2,429,315

CURRENT ASSETS

Stocks

914,131

913,076

Debtors

6

3,831,799

3,744,919

Cash at bank and in hand

14,699

13,450

4,760,629

4,671,445

CREDITORS

Amounts falling due within one year

7

4,644,438

4,502,991

NET CURRENT ASSETS

116,191

168,454

TOTAL ASSETS LESS CURRENT LIABILITIES

2,619,406

2,597,769

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

8

738,976

738,976

Retained earnings

1,880,428

1,858,791

SHAREHOLDERS' FUNDS

2,619,406

2,597,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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.

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

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 16 May 2018 and were signed on its behalf by:

J F Jackson - Director

1.	STATUTORY INFORMATION

Norman Jackson (Farmers) Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost

Tenants improvements

-

10% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

4.	TANGIBLE FIXED ASSETS

Land and

Tenants

Plant and

Motor

buildings

improvements

machinery

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 October 2016

1,336,986

822,764

1,319,474

77,811

3,557,035

Additions

-

152,270

-

-

152,270

Disposals

-

-

(31,400

)

-

(31,400

)

At 30 September 2017

1,336,986

975,034

1,288,074

77,811

3,677,905

DEPRECIATION

At 1 October 2016

27,460

742

1,061,213

50,049

1,139,464

Charge for year

-

-

56,716

6,940

63,656

Eliminated on disposal

-

-

(16,686

)

-

(16,686

)

At 30 September 2017

27,460

742

1,101,243

56,989

1,186,434

NET BOOK VALUE

At 30 September 2017

1,309,526

974,292

186,831

20,822

2,491,471

At 30 September 2016

1,309,526

822,022

258,261

27,762

2,417,571

Cost or valuation at 30 September 2017 is represented by:

Land and

Tenants

Plant and

Motor

buildings

improvements

machinery

vehicles

Totals

£

£

£

£

£

Valuation in 2005

738,976

-

-

-

738,976

Cost

598,010

975,034

1,288,074

77,811

2,938,929

1,336,986

975,034

1,288,074

77,811

3,677,905

If Land and buildings had not been revalued they would have been included at the following historical cost:

2017

2016

£

£

Cost

598,010

598,010

Aggregate depreciation

384,281

384,281

Value of land in freehold land and buildings

177,121

177,121

Land and buildings were valued on an open market basis on 3 April 2005 by taking independent advice .

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

£

COST OR VALUATION

At 1 October 2016

and 30 September 2017

62,000

DEPRECIATION

At 1 October 2016

and 30 September 2017

44,563

NET BOOK VALUE

At 30 September 2017

17,437

At 30 September 2016

17,437

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2016

and 30 September 2017

11,744

NET BOOK VALUE

At 30 September 2017

11,744

At 30 September 2016

11,744

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,746,606

1,650,406

Other debtors

2,085,193

2,094,513

3,831,799

3,744,919

Included in debtors is a deferred tax asset of £85,322 ( 2016 - £85,322 ).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

836,954

547,221

Trade creditors

987,537

1,193,200

Taxation and social security

29,574

54,982

Other creditors

2,790,373

2,707,588

4,644,438

4,502,991

8.

RESERVES

Revaluation

reserve

£

At 1 October 2016

and 30 September 2017

738,976

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY