Company Registration Number 00568637 (England and Wales)
BAGBOROUGH FARMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
BAGBOROUGH FARMS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
£
£
£
£
Fixed assets
982,298
957,794
Current assets
563,947
553,161
Prepayments and accrued income
20,525
8,915
Creditors: amounts falling due within one year
(250,867)
(345,235)
Net current assets
333,605
216,841
Total assets less current liabilities
1,315,903
1,174,635
Creditors: amounts falling due after more than one year
(707,007)
(624,235)
Accruals and deferred income
(6,280)
-
Net assets
602,616
550,400
Capital and reserves
602,616
550,400
Notes to the financial statements
1
Director's benefits: advances, credit and guarantees
The company made the following loans and advances to directors:
Advances to Directors
During the year £8,663 was advanced to a director and £2,273 was subsequently repaid. The balance owed by the director at the beginning of the year was £70,018 and at the end of the year was £78,250. This loan is at 2.5% interest, unsecured and has no repayment terms.
2
Financial commitments, guarantees and contingencies
The company made the following capital commitments and contingencies:
Charges on Assets
The company had bank loans and overdrafts totalling £724,153 (2018 - £761,836) and net obligations under finance leases and hire purchase contracts totalling £40,600 (2018 - £0) which are secured. The bank loans are secured on a fixed and floating charge over the assets of the company and the finance leases and HP contracts are secured over the assets concerned.
Operating Lease Commitments
At the reporting date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £50,000 (2018 - £50,000).
BAGBOROUGH FARMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2019
31 March 2019
- 2 -
3
Employees
The average number of persons
,
including directors
,
employed by the company during the year wa
s as follows:
2019
2018
Number
Number
Employees
6
6
Bagborough Farms Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bishopbrook House, Cathedral Avenue, WELLS, Somerset, BA5 1FD.
For the year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 January 2020
Mr R N Longman
Director
Company Registration Number 00568637