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REGISTERED NUMBER:
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S CLARKE (FARMS) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 5 APRIL 2017 |
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REGISTERED NUMBER:
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S CLARKE (FARMS) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 5 APRIL 2017 |
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S CLARKE (FARMS) LIMITED (REGISTERED NUMBER: 01205806) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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S CLARKE (FARMS) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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14 London Road |
Newark |
Nottinghamshire |
NG24 1TW |
S CLARKE (FARMS) LIMITED (REGISTERED NUMBER: 01205806) |
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STATEMENT OF FINANCIAL POSITION |
5 APRIL 2017 |
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5.4.17 | 5.4.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories |
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Debtors | 6 |
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Investments | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
S CLARKE (FARMS) LIMITED (REGISTERED NUMBER: 01205806) |
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STATEMENT OF FINANCIAL POSITION - continued |
5 APRIL 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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S CLARKE (FARMS) LIMITED (REGISTERED NUMBER: 01205806) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2017 |
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1. | STATUTORY INFORMATION |
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S Clarke (Farms) Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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The financial statements for the year ended 5 April 2017 are the first financial statements of S Clarke (Farms) |
Limited prepared in accordance with FRS 102. Adjustments required on transition are set out in the notes to |
the financial statements. |
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Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Intangible assets |
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value |
and written off on a straight line basis over the period to 31 December 2019 when the scheme ends. |
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Property, plant and equipment |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
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Freehold property | - buildings are written off over 15 years on a straight line basis |
- land is not depreciated |
Plant and machinery | - 10% on reducing balance |
Renewable energy equipment | - 5% on cost |
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Inventories |
Valuation are valued at the lower of cost and fair value less costs to complete and sell, after making due |
allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been |
enacted or substantively enacted by the statement of financial position date. |
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S CLARKE (FARMS) LIMITED (REGISTERED NUMBER: 01205806) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's |
pension scheme are charged to profit or loss in the period to which they relate. |
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Basic payment |
The Basic Payment is recognised in the financial statements in accordance with current H.M. Revenue & |
Customs guidance. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Entitlements |
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COST |
At 6 April 2016 |
and 5 April 2017 |
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AMORTISATION |
At 6 April 2016 |
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Amortisation for year |
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At 5 April 2017 |
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NET BOOK VALUE |
At 5 April 2017 |
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At 5 April 2016 |
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S CLARKE (FARMS) LIMITED (REGISTERED NUMBER: 01205806) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2017 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 6 April 2016 |
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Additions |
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At 5 April 2017 |
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DEPRECIATION |
At 6 April 2016 |
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Charge for year |
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At 5 April 2017 |
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NET BOOK VALUE |
At 5 April 2017 |
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At 5 April 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.17 | 5.4.16 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CURRENT ASSET INVESTMENTS |
5.4.17 | 5.4.16 |
£ | £ |
Unlisted investments | - | 619 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.17 | 5.4.16 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | RELATED PARTY DISCLOSURES |
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At the year end £
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During the year remuneration paid to the directors inclusive of benefit was £9,538 (2016: £37,100). |
S CLARKE (FARMS) LIMITED (REGISTERED NUMBER: 01205806) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2017 |
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10. | FIRST YEAR ADOPTION |
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Under previous UK GAAP the company was not required to recognise the basic payment entitlements as an |
intangible asset. Under FRS 102, an asset of £34,919 was recognised on transition with a corresponding |
balance in deferred income. The amortisation charge in the year to 5 April 2017 was £6,984 with the same |
amount released from deferred income. |