REGISTERED NUMBER:
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SCOTT AND SCOTT (AYSTON) LIMITED |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 OCTOBER 2016 |
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REGISTERED NUMBER:
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SCOTT AND SCOTT (AYSTON) LIMITED |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 OCTOBER 2016 |
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SCOTT AND SCOTT (AYSTON) LIMITED (REGISTERED NUMBER: 01611951) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 OCTOBER 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 | to | 3 |
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Notes to the Abbreviated Accounts | 4 | to | 5 |
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Chartered Accountants' Report | 6 |
SCOTT AND SCOTT (AYSTON) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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SCOTT AND SCOTT (AYSTON) LIMITED (REGISTERED NUMBER: 01611951) |
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ABBREVIATED BALANCE SHEET |
31 OCTOBER 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Valuation |
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Debtors |
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Investments |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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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 | 3 |
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Revaluation reserve |
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Capital redemption reserve |
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Profit and loss account |
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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. |
SCOTT AND SCOTT (AYSTON) LIMITED (REGISTERED NUMBER: 01611951) |
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ABBREVIATED BALANCE SHEET - continued |
31 OCTOBER 2016 |
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The financial statements were approved by the Board of Directors on
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SCOTT AND SCOTT (AYSTON) LIMITED (REGISTERED NUMBER: 01611951) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 OCTOBER 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the |
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities |
(effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Freehold property | - |
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Farm houses | - |
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Farm buildings | - |
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Fixtures and fittings | - |
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Plant and machinery | - |
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Plant hire equipment | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
The farm valuation has been prepared by independent professional valuers at the lower of cost and net |
realisable value. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate. |
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Current asset investments |
Listed investments are stated at their market value at the balance sheet date. Unrealised gains arising from the |
increase in the value of the investments are credited to the revaluation reserve in the financial statements. |
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The Single Farm Payment is recognised in the financial statements in accordance with current H.M. Revenue & |
Customs guidance. |
SCOTT AND SCOTT (AYSTON) LIMITED (REGISTERED NUMBER: 01611951) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 November 2015 |
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Additions |
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Disposals | ( |
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At 31 October 2016 |
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DEPRECIATION |
At 1 November 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 October 2016 |
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NET BOOK VALUE |
At 31 October 2016 |
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At 31 October 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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'A' Ordinary | £1 |
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'B' Ordinary | £1 |
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297,650 | 297,650 |
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The 'B' Ordinary shares do not entitle the holders to participate in profits. The shares rank equally in all other |
respects. |
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4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 October 2016 and |
31 October 2015: |
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2016 | 2015 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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The directors repaid the overdrawn loan account in February 2017. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SCOTT AND SCOTT (AYSTON) LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have |
been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Scott and Scott (Ayston) Limited for the year ended 31 October 2016 which comprise the Profit |
and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from |
information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Scott and Scott (Ayston) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Scott and Scott (Ayston) Limited and state those matters that we have agreed to state to the Board of Directors of Scott and Scott (Ayston) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scott and Scott (Ayston) Limited Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Scott and Scott (Ayston) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Scott and Scott (Ayston) Limited. You consider that Scott and Scott (Ayston) Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Scott and Scott (Ayston) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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22 June 2017 |