Ingleborough Farms Limited - Accounts to registrar (filleted) - small 18.2
Ingleborough Farms Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
| INGLEBOROUGH FARMS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2018 |
INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2018 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
INGLEBOROUGH FARMS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2018 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Enterprise Way |
Pinchbeck |
Spalding |
Lincolnshire |
PE11 3YR |
INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248) |
STATEMENT OF FINANCIAL POSITION |
31 JANUARY 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Valuation |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( | ) | ( | ) |
PROVISIONS FOR LIABILITIES | ( | ) | ( | ) |
ACCRUALS AND DEFERRED INCOME | ( | ) | ( | ) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium |
Retained earnings | ( | ) |
SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248) |
STATEMENT OF FINANCIAL POSITION - continued |
31 JANUARY 2018 |
The company and its associated businesses Grange Farms (Friskney) Limited, Roughton Estates Limited and Roughton Farms Limited entered into a reconstruction transaction in June 2014 which has still not been fully resolved and completed. Dependent upon the resolution of the matters outstanding there may or may not be adjustments necessary to the amounts disclosed in the Balance Sheet and associated notes the amounts of which are unquantifiable at this date. |
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 |
INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2018 |
1. | STATUTORY INFORMATION |
Ingleborough Farms Limited is a |
number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of produce, excluding valued added tax, and includes the Single Farm Payment and |
environmental subsidies. |
Sales of produce are recognised upon despatch. |
The Basic Farm Payment is recognised in the financial statements in accordance with current H.M.Revenue & Customs guidance. |
Tenancies |
| Tenancies are recorded at the directors valuation on the group reconstruction and not amortised. |
Basic payment scheme entitlements |
| Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a |
| straight line basis over the period to 31 December 2019 when the scheme ends. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for |
obsolete and slow moving items. |
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 |
INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2018 |
4. | INTANGIBLE FIXED ASSETS |
Basic |
Farm |
Payment |
Tenancies | Entitlement | Totals |
£ | £ | £ |
COST |
At 1 February 2017 |
and 31 January 2018 |
AMORTISATION |
At 1 February 2017 |
Amortisation for year |
At 31 January 2018 |
NET BOOK VALUE |
At 31 January 2018 |
At 31 January 2017 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and | Motor |
property | property | machinery | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 February 2017 |
Additions |
Disposals | ( | ) | ( | ) |
Impairments | (40,000 | ) | - | - | - | (40,000 | ) |
At 31 January 2018 |
DEPRECIATION |
At 1 February 2017 |
Charge for year |
Eliminated on disposal | ( | ) | ( | ) |
At 31 January 2018 |
NET BOOK VALUE |
At 31 January 2018 |
At 31 January 2017 |
The net book value of tangible fixed assets includes £ 8,578 (2017 - £ 11,438 ) in respect of assets held under hire purchase contracts. |
INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2018 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 February 2017 |
and 31 January 2018 |
NET BOOK VALUE |
At 31 January 2018 |
At 31 January 2017 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans |
Hire purchase contracts |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans due in more than 5 years by instalments | 1,037,753 | 1,293,611 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £1 | 48,582 | 48,582 |
INGLEBOROUGH FARMS LIMITED (REGISTERED NUMBER: 09027248) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2018 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year ended 31 January 2018 the directors were loaned £80,298, with no interest being charged on the loan. |