Graby Farm Limited - Period Ending 2014-04-05

Registration number: 00356690

Graby Farm Limited

Unaudited Abbreviated Accounts

for the Year Ended 5 April 2014
 

Bulley Davey
Chartered Certified Accountants
1 - 4 London Road
Spalding
Lincolnshire
PE11 2TA

Graby Farm Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Graby Farm Limited
(Registration number: 00356690)
Abbreviated Balance Sheet at 5 April 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			329,620			300,500
Investments					550			550
					330,170			301,050
Current assets
Stocks					63,218			47,820
Debtors					251,014			418,272
Cash at bank and in hand					587,152			445,098
					901,384			911,190
Creditors: Amounts falling due within one year					(141,454)			(300,566)
Net current assets					759,930			610,624
Net assets					1,090,100			911,674
Capital and reserves
Called up share capital		3			5,000			5,000
Profit and loss account					1,085,100			906,674
Shareholders' funds					1,090,100			911,674

For the year ending 5 April 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 2 January 2015 and signed on its behalf by:

 A J Dodds
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Graby Farm Limited
Notes to the Abbreviated Accounts for the Year Ended 5 April 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land	Nil
Buildings	2% per annum on cost
Improvements	25% per annum on written down value
Plant and machinery	20% per annum on written down value

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 2

Graby Farm Limited
Notes to the Abbreviated Accounts for the Year Ended 5 April 2014
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 6 April 2013		559,173			550			559,723
Additions		127,740			-			127,740
Disposals		(44,550)			-			(44,550)
At 5 April 2014		642,363			550			642,913
Depreciation
At 6 April 2013		258,673			-			258,673
Charge for the year		88,049			-			88,049
Eliminated on disposals		(33,979)			-			(33,979)
At 5 April 2014		312,743			-			312,743
Net book value
At 5 April 2014		329,620			550			330,170
At 5 April 2013		300,500			550			301,050

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		5,000			5,000			5,000			5,000

Page 3