V.G., MRS M.M. & M.G. GREENWAY LIMITED - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04689836

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2014

FOR

V.G., MRS M.M. & M.G. GREENWAY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M G Greenway

Mrs M M Greenway

V G Greenway

SECRETARY:

M G Greenway

REGISTERED OFFICE:

St. John's House

Castle Street

Taunton

Somerset

TA1 4AY

REGISTERED NUMBER:

04689836

ACCOUNTANTS:

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

466,880

366,322

466,880

366,322

CURRENT ASSETS

Debtors

301,931

273,564

CREDITORS

Amounts falling due within one year

3,456

11,937

NET CURRENT ASSETS

298,475

261,627

TOTAL ASSETS LESS CURRENT LIABILITIES

765,355

627,949

PROVISIONS FOR LIABILITIES

61,080

31,855

NET ASSETS

704,275

596,094

CAPITAL AND RESERVES

Called up share capital

4

400

400

Profit and loss account

703,875

595,694

SHAREHOLDERS' FUNDS

704,275

596,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 1 December 2014 and were signed on its behalf by:

M G Greenway - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Intangible fixed assets

Milk quota was capitalised at cost as an intangible asset. Amortisation was provided on the straight line method

and aimed to write off this quota over its expected useful life. Quota was expected to have no value by 31 March

2010.

Amortisation was calculated by working out the proportion of the expected useful life that had expired during the

accounting period and applying this proportion to the original cost.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on cost and 5% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

and 30 April 2014

237,768

AMORTISATION

At 1 May 2013

and 30 April 2014

237,768

NET BOOK VALUE

At 30 April 2014

-

At 30 April 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

553,496

Additions

199,933

Disposals

(30,500

)

At 30 April 2014

722,929

DEPRECIATION

At 1 May 2013

187,174

Charge for year

96,325

Eliminated on disposal

(27,450

)

At 30 April 2014

256,049

NET BOOK VALUE

At 30 April 2014

466,880

At 30 April 2013

366,322

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.14

30.4.13

value:

£

£

200

Ordinary

£1

200

200

200

Ordinary "A" to "F"

£1

200

200

400

400

There are 1,000 each of the Ordinary "A" to "F" shares available for issue.

The holders of all of these Ordinary "A" to "F" shares are not entitled to receive notice of, attend or vote at any

general meeting of the company.

On a winding up of the company; the capital paid up on the ordinary shares will be repaid first; then the capital

paid up on the Ordinary "A" to "F" shares will be repaid as if they were a single class of shares and finally any

residue will be divided amongst the holders of the ordinary shares.

Transfer of the Ordinary "A" to "F" shares is at the discretion of the directors.

There are currently 50 each of the Ordinary "A" to "D" shares allotted, issued and fully paid.

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors are all members of the partnership in which the company is involved. They, therefore, have an

interest in all of the transactions of the company. All transactions take place on an open market basis.