Company Registration Number 00568637 (England and Wales)
BAGBOROUGH FARMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
BAGBOROUGH FARMS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2018
31 March 2018
- 1 -
2018
2017
£
£
£
£
Fixed assets
957,794
656,897
Current assets
553,161
325,564
Prepayments and accrued income
8,915
264
Creditors: amounts falling due within one year
(345,235)
(335,306)
Net current assets/(liabilities)
216,841
(9,478)
Total assets less current liabilities
1,174,635
647,419
Creditors: amounts falling due after more than one year
(624,235)
(116,735)
Net assets
550,400
530,684
Capital and reserves
550,400
530,684
Notes to the financial statements
1
Directors' benefits: advances, credit and guarantees
The company made the following loans and advances to directors:
Advances to Directors
During the year £77,593 was advanced to a director and £1,875 was subsequently repaid. The balance owed by the director at the beginning of the year was £0 and at the end of the year was £70,018
. 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 £761,836 (2017 - £315,252) which are secured. The bank loans are secured on a fixed and floating charge over the assets of the company.
Operating Lease Committments
At the reporting date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £50,000 (2017 - £50,000).
3
Employees
The average number of persons (including directors) employed by the company during the year was 6 (2017 - 5
).
BAGBOROUGH FARMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018
31 March 2018
- 2 -
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.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
For the year ended 31 March 2018 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 24 April 2019
Mr R N Longman
Director
Company Registration Number 00568637