Coombe Lake Farms Limited - Period Ending 2014-04-30

Registration number: 03187203

Coombe Lake Farms Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2014
 

Coombe Lake Farms Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Coombe Lake Farms Limited
(Registration number: 03187203)
Abbreviated Balance Sheet at 30 April 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					1,111,829			1,100,048
Investments					2			2
		2			1,111,831			1,100,050
Current assets
Debtors					6,225			2,298
Cash at bank and in hand					191,230			63,391
					197,455			65,689
Creditors: Amounts falling due within one year					(12,074)			(7,192)
Net current assets					185,381			58,497
Net assets					1,297,212			1,158,547
Capital and reserves
Called up share capital		3			837,111			761,010
Share premium account					260,818			131,447
Profit and loss account					199,283			266,090
Shareholders' funds					1,297,212			1,158,547

Page 1

Coombe Lake Farms Limited
(Registration number: 03187203)
Abbreviated Balance Sheet at 30 April 2014

For the year ending 30 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 13 October 2014 and signed on its behalf by:

C F Gore-Andrews Director

Page 2

Coombe Lake Farms Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 April 2014

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).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents income received from the selling of crops of grass, income from government subsidies under the Single Farm Payment Scheme, subsidies received in connection with the maintenance of the environment and amounts chargeable in respect of goods and services to customers, net of VAT.

Amortisation

Acquired single farm payment entitlements are written off in equal annual instalments over the useful economic life.

Asset class	Amortisation method and rate
Single farm payment entitlements	33.3% straight line

Depreciation

Tangible assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life.

Asset class	Depreciation method and rate
Freehold land and improvements	0% and 4% reducing balance
Plant and machinery	25% reducing balance

Fixed asset investments

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

Page 3

Coombe Lake Farms Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 April 2014

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 May 2013		1,121,578			2			1,121,580
Additions		13,077			-			13,077
At 30 April 2014		1,134,655			2			1,134,657
Depreciation
At 1 May 2013		21,530			-			21,530
Charge for the year		1,296			-			1,296
At 30 April 2014		22,826			-			22,826
Net book value
At 30 April 2014		1,111,829			2			1,111,831
At 30 April 2013		1,100,048			2			1,100,050

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings
Coles Cross Limited	Ordinary	100%	Dormant

The profit for the financial period of Coles Cross Limited was £nil and the aggregate amount of capital and reserves at the end of the period was £7.

Page 4

Coombe Lake Farms Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 April 2014

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £0.10 each		8,371,106			837,111			7,610,097			761,010

New shares allotted

During the year 761,009 ordinary shares having an aggregate nominal value of £76,101 were allotted for an aggregate consideration of £205,472. These shares were allotted following a rights issue that was offered on 26 November 2013. The shares were offered at a price of 27p per share (10p face value and 17p premium).

Page 5