Huttons Ambo Farms Limited - Accounts to registrar (filleted) - small 18.2
Huttons Ambo Farms Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Huttons Ambo Farms Limited |
| Financial Statements |
| for the Year Ended 5 April 2018 |
| Huttons Ambo Farms Limited (Registered number: 00971810) |
| Contents of the Financial Statements |
| for the year ended 5 April 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Huttons Ambo Farms Limited |
| Company Information |
| for the year ended 5 April 2018 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Regents Court |
| Princess Street |
| Hull |
| East Yorkshire |
| HU2 8BA |
| Huttons Ambo Farms Limited (Registered number: 00971810) |
| Balance Sheet |
| 5 April 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| Huttons Ambo Farms Limited (Registered number: 00971810) |
| Balance Sheet - continued |
| 5 April 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Huttons Ambo Farms Limited (Registered number: 00971810) |
| Notes to the Financial Statements |
| for the year ended 5 April 2018 |
| 1. | STATUTORY INFORMATION |
| Huttons Ambo Farms Limited is a |
| 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 |
| The significant accounting policies applied in the preparation of these financial statements are set out |
| below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Intangible assets - entitlements |
| Entitlements acquired via the ownership of existing land and therefore have no cost have been |
| revalued to fair value on transition to FRS 102 Section 1A and are being amortised over their expected |
| useful life. At the reporting date, the expected useful life is 6 years, reflecting the 6 year period of |
| benefit to be received via the Basic Payment Scheme which commenced in 2015 and is expected to |
| cease in 2020. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated |
| useful life. |
| Leasehold property alteration | 4% on net book value |
| Plant and machinery | 20% on net book value |
| Government grants |
| The company receives government grants in respect of the Basic Payment Scheme under Common |
| Agricultural Policy. These grants are recognised at the fair value of the asset received or receivable |
| where there is reasonable assurance that the company will comply with conditions attaching to them |
| and the grants will be received using the performance model. |
| Other government grants of a revenue nature are credited to income in the period to which they relate. |
| 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. |
| Huttons Ambo Farms Limited (Registered number: 00971810) |
| Notes to the Financial Statements - continued |
| for the year ended 5 April 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Investments |
| Unlisted investments held as fixed assets are stated at cost. |
| 3. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 6 April 2017 |
| and 5 April 2018 |
| AMORTISATION |
| At 6 April 2017 |
| Charge for year |
| At 5 April 2018 |
| NET BOOK VALUE |
| At 5 April 2018 |
| At 5 April 2017 |
| Other intangible assets comprise Basic Payment Scheme entitlements. The entitlements previously |
| owned by the company but acquired at £Nil cost were revalued to their fair value on the transition date |
| which has subsequently been treated as their deemed cost and have been amortised in line with the |
| accounting policy. The amortised fair value element of the NBV at 5 April 2018 represents £35,079 |
| which is shown separately within the fair value reserve. |
| Huttons Ambo Farms Limited (Registered number: 00971810) |
| Notes to the Financial Statements - continued |
| for the year ended 5 April 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 6 April 2017 |
| and 5 April 2018 |
| DEPRECIATION |
| At 6 April 2017 |
| Charge for year |
| At 5 April 2018 |
| NET BOOK VALUE |
| At 5 April 2018 |
| At 5 April 2017 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 6 April 2017 |
| Additions |
| At 5 April 2018 |
| NET BOOK VALUE |
| At 5 April 2018 |
| At 5 April 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Huttons Ambo Farms Limited (Registered number: 00971810) |
| Notes to the Financial Statements - continued |
| for the year ended 5 April 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | OTHER FINANCIAL COMMITMENTS |
| The company has a farm business tenancy which is on a rolling eighteen month notice basis. The |
| annual amount payable in respect of this is £41,000 per annum. |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 5 April 2018 and |
| 5 April 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| An amount of £6,945 was repaid by The Executors of Mr J F W Jenyns after the year end in respect of |
| this balance. |