P Hewitt (Farmers) Ltd - Period Ending 2018-04-05
P Hewitt (Farmers) Ltd - Period Ending 2018-04-05
Registration number:
P Hewitt (Farmers) Ltd
for the Year Ended 5 April 2018
P Hewitt (Farmers) Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
P Hewitt (Farmers) Ltd
Company Information
Directors |
Mr R Hewitt Mrs S Walters |
Company secretary |
Mrs S Walters |
Registered office |
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Solicitors |
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Bankers |
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Page 1 |
P Hewitt (Farmers) Ltd
(Registration number: 00629233)
Balance Sheet as at 5 April 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
131,181 |
141,092 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Fair value reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 5 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mrs S Walters
Company secretary and director
Page 2 |
P Hewitt (Farmers) Ltd
Notes to the Financial Statements for the Year Ended 5 April 2018
General information |
The company is a private company limited by share capital incorporated in UK and the company registration number is 00629233.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
25% Reducing balance |
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.
Page 3 |
P Hewitt (Farmers) Ltd
Notes to the Financial Statements for the Year Ended 5 April 2018
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Page 4 |
P Hewitt (Farmers) Ltd
Notes to the Financial Statements for the Year Ended 5 April 2018
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 6 April 2017 |
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At 5 April 2018 |
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Depreciation |
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At 6 April 2017 |
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Charge for the year |
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At 5 April 2018 |
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Carrying amount |
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At 5 April 2018 |
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At 5 April 2017 |
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Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 6 April 2017 |
141,092 |
141,092 |
Fair value adjustments |
8,669 |
8,669 |
Additions |
62,070 |
62,070 |
Disposals |
(80,650) |
(80,650) |
At 5 April 2018 |
131,181 |
131,181 |
Carrying amount |
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At 5 April 2018 |
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131,181 |
The fair value of the listed investments has been determined by using the market value of the investment provided by the stockbroker at the year end.
The fair value is £131,181 (2016: £141,092) and the change in value included in the profit and loss account is £8,669 (2017: £15,622).
Debtors |
2018 |
2017 |
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Other debtors |
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Total current trade and other debtors |
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Page 5 |
P Hewitt (Farmers) Ltd
Notes to the Financial Statements for the Year Ended 5 April 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Other creditors |
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Accruals and deferred income |
2,700 |
2,700 |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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26,002 |
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26,002 |
Related party transactions |
Transactions with directors |
2018 |
At 6 April 2017 |
Advances to directors |
At 5 April 2018 |
Mr R Hewitt |
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Director loan |
(15,000) |
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( |
Mrs S Walters |
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Directors Loan |
(15,000) |
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( |
2017 |
At 6 April 2016 |
At 5 April 2017 |
Mr R Hewitt |
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Director loan |
(15,000) |
( |
Mrs S Walters |
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Directors Loan |
(15,000) |
( |
Page 6 |