Rockfield Farms Limited - Period Ending 2014-04-30

Registration number: 03353855

Rockfield Farms Limited
 
  Unaudited Abbreviated Accounts
 
  for the year ended 30 April 2014
 

Rockfield Farms Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Rockfield Farms Limited
(Registration number: 03353855)
Abbreviated Balance Sheet at 30 April 2014

		Note			2014						2013
	£			£			£			£
Fixed assets
Tangible fixed assets								3,257,182						3,159,679
Current assets
Stocks					63,043						53,977
Debtors					16,028						7,224
Cash at bank and in hand					22,923						37,090
					101,994						98,291
Creditors: Amounts falling due within one year					(125,860)						(28,613)
Net current (liabilities)/assets								(23,866)						69,678
Total assets less current liabilities								3,233,316						3,229,357
Provisions for liabilities								(9,881)						(11,502)
Net assets								3,223,435						3,217,855
Capital and reserves
Called up share capital		3			2,458,000						2,458,000
Profit and loss account					765,435						759,855
Shareholders' funds								3,223,435						3,217,855

Page 1

Rockfield Farms Limited
(Registration number: 03353855)
Abbreviated Balance Sheet at 30 April 2014

For the year ended 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 30 January 2015 and signed on its behalf by:

.........................................
Mr M S Howes
Director

.........................................
Mrs P M Howes
Director

Page 2

Rockfield Farms Limited
Notes to the Abbreviated Accounts for the year Ended 30 April 2014

1	Accounting policies

Basis of preparation

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 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
Freehold property	0-10% straight line
Plant and machinery	15% reducing balance
Tractors	25% reducing balance

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 costs to completion and selling costs. Cost is based on using the anticipated convention set out in HS232 to arrive at deemed costs where actual costs are not actually ascertainable.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Within the amounts included for freehold property, is £3,207,778 of freehold property (2013 - £2,330,572), which is not depreciated.

Page 3

Rockfield Farms Limited
Notes to the Abbreviated Accounts for the year Ended 30 April 2014

Freehold property

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2013		3,294,392			3,294,392
Additions		108,256			108,256
At 30 April 2014		3,402,648			3,402,648
Depreciation
At 1 May 2013		134,713			134,713
Charge for the year		10,753			10,753
At 30 April 2014		145,466			145,466
Net book value
At 30 April 2014		3,257,182			3,257,182
At 30 April 2013		3,159,679			3,159,679

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
2,458,000 ordinary shares of £1 each		2,458,000			2,458,000			2,458,000			2,458,000

Page 4