Registered Number 00725591
M.GOOD & SON LIMITED
Abbreviated Accounts
5 April 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: amounts falling due within one year | 3 |
( |
( |
Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
( |
( |
Provisions for liabilities |
( |
( |
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Accruals and deferred income |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
Freehold Property - not depreciated
Tractors - 20% reducing balance
Harvesters - 20% reducing balance
Motor Vehicles - 20% reducing balance
Other Plant & Equipment- 20% reducing balance
Freehold land and buildings are not depreciated. Improvements to properties are depreciated straight line over 10 years.
Valuation information and policy
Other accounting policies
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Pension costs
The pension costs charged against profits represent the amount of the contributions payable to the scheme in respect of the accounting period.
Deferred taxation
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments.
Single farm payment
Single farm payments are included as receivable where the prescribed criteria for these have been satisfied and are accounted for as other operating income.
£ | |
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Cost | |
At 6 April 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 5 April 2015 |
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Depreciation | |
At 6 April 2014 |
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Charge for the year |
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On disposals |
( |
At 5 April 2015 |
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Net book values | |
At 5 April 2015 | 1,583,480 |
At 5 April 2014 | 1,427,777 |
2015
£ |
2014
£ |
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Secured Debts |
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