Maesquoy Farms Limited - Accounts to registrar (filleted) - small 18.2
Maesquoy Farms Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 April 2018 |
| for |
| Maesquoy Farms Limited |
| Maesquoy Farms Limited (Registered number: SC343177) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2018 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Maesquoy Farms Limited |
| Company Information |
| for the Year Ended 30 April 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 1 - 3 East Road |
| Kirkwall |
| Orkney |
| KW15 1HZ |
| BANKERS: |
| 56 Albert Street |
| Kirkwall |
| Orkney |
| KW15 1HJ |
| Maesquoy Farms Limited (Registered number: SC343177) |
| Abridged Balance Sheet |
| 30 April 2018 |
| 2017 | 2018 |
| £ | £ | Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| ( |
) | Amounts falling due after more than one year |
5 |
( |
) |
| ( |
) | PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Maesquoy Farms Limited (Registered number: SC343177) |
| Abridged Balance Sheet - continued |
| 30 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 Board of Directors on behalf by: |
| Maesquoy Farms Limited (Registered number: SC343177) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2018 |
| 1. | STATUTORY INFORMATION |
| Maesquoy Farms Limited is a |
| registered 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 sales of livestock and crop, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Livestock and crop are valued at a percentage of market value, with purchased animals valued at cost. |
| Other stocks are valued at the lower of cost or net realisable value. |
| 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. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of |
| the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Maesquoy Farms Limited (Registered number: SC343177) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 May 2017 |
| Additions |
| Disposals | ( |
) |
| At 30 April 2018 |
| DEPRECIATION |
| At 1 May 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 April 2018 |
| NET BOOK VALUE |
| At 30 April 2018 |
| At 30 April 2017 |
| 5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
| 2018 | 2017 |
| £ | £ |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 100,000 | 125,000 |
| 6. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 100,000 | 125,000 |
| Maesquoy Farms Limited (Registered number: SC343177) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2018 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Hire purchase contracts | 50,817 | 46,634 |
| The bank loan and overdraft are secured by a Bond and Floating Charge, over the whole assets of the |
| company, created in favour of the Bank of Scotland. |
| The company operates certain items of plant & machinery on hire purchase terms. |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 May 2017 |
| Profit for the year |
| Dividends | ( |
) |
| At 30 April 2018 |