Company Registration No. 00890325 (England and Wales)
OLCHON FARMS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
OLCHON FARMS LIMITED
CONTENTS
PAGE
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
OLCHON FARMS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
FIXED ASSETS
Tangible assets
2
434,174
434,820
Investments
2
1,165,850
1,165,850
1,600,024
1,600,670
CURRENT ASSETS
Stocks
1,806
-
Debtors
2,175
1,958
Cash at bank and in hand
30,255
16,788
34,236
18,746
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3
(896,632)
(901,430)
NET CURRENT LIABILITIES
(862,396)
(882,684)
TOTAL ASSETS LESS CURRENT LIABILITIES
737,628
717,986
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
(21,522)
(37,727)
716,106
680,259
CAPITAL AND RESERVES
Called up share capital
4
200
200
Revaluation reserve
350,515
350,515
Profit and loss account
365,391
329,544
SHAREHOLDERS' FUNDS
716,106
680,259
OLCHON FARMS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 2 -
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 17 December 2015
Mr B J Dixon
DIRECTOR
COMPANY REGISTRATION NO. 00890325
OLCHON FARMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
1
ACCOUNTING POLICIES
1.1
ACCOUNTING CONVENTION
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
COMPLIANCE WITH ACCOUNTING STANDARDS
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
TURNOVER
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Not provided for
Fixtures, fittings & equipment
10% Straight line
Motor vehicles
20% Straight line
1.5
INVESTMENTS
Fixed asset investments are stated at cost less provision for diminution in value.
OLCHON FARMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
2
FIXED ASSETS
Tangible assets
Investments
Total
£
£
£
COST OR VALUATION
At 1 April 2014 & at 31 March 2015
457,431
1,165,850
1,623,281
DEPRECIATION
At 1 April 2014
22,611
-
22,611
Charge for the year
646
-
646
At 31 March 2015
23,257
-
23,257
NET BOOK VALUE
At 31 March 2015
434,174
1,165,850
1,600,024
At 31 March 2014
434,820
1,165,850
1,600,670
3
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
The aggregate amount of creditors for which security has been given amounted to £37,707 (2014 - £53,912).
4
SHARE CAPITAL
2015
2014
£
£
ALLOTTED, CALLED UP AND FULLY PAID
2,000 Ordinary of 10p each
200
200