Mowles Farms Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07225311 (England and Wales)

MOWLES FARMS LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

30TH APRIL 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTORS:

Mr D M Mowles

Mr T J Mowles

REGISTERED OFFICE:

Unit 4

Spring Mill Industrial Estate

Avening Road

NAILSWORTH

Gloucestershire

GL6 0BS

REGISTERED NUMBER:

07225311 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

Barclays Bank Plc

Leicester

Leicestershire

LE87 2BB

FIXED ASSETS

Tangible assets

2

69,068

66,258

CURRENT ASSETS

Stocks

59,759

25,804

Debtors

1,997

8,786

Cash at bank

335

10,156

62,091

44,746

CREDITORS

Amounts falling due within one year

170,486

115,384

NET CURRENT LIABILITIES

(108,395

)

(70,638

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(39,327

)

(4,380

)

CREDITORS

Amounts falling due after more than one year

38,153

39,192

NET LIABILITIES

(77,480

)

(43,572

)

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

(77,481

)

(43,573

)

SHAREHOLDERS' FUNDS

(77,480

)

(43,572

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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 27th January 2015 and were signed on its behalf by:

Mr T J Mowles - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The director has assessed the forthcoming period in terms of profitability and cashflows and feel

that the going concern principle remains appropriate.

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 goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance and 10% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

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

at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance

sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

Those held under finance leases are depreciated over their estimated useful lives or the lease

term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the

relevant period. The capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2013

74,158

Additions

23,812

Disposals

(12,900

)

At 30th April 2014

85,070

DEPRECIATION

At 1st May 2013

7,900

Charge for year

9,267

Eliminated on disposal

(1,165

)

At 30th April 2014

16,002

NET BOOK VALUE

At 30th April 2014

69,068

At 30th April 2013

66,258

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

£1

1

1