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Unaudited Financial Statements |
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for the Year Ended 30 September 2020 |
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for |
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Bradfield Farms Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 September 2020 |
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for |
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Bradfield Farms Limited |
Bradfield Farms Limited (Registered number: 01746998) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2020 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Bradfield Farms Limited |
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Company Information |
for the Year Ended 30 September 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Oak Apple House |
North Street |
Milborne Port |
Sherborne |
DT9 5EW |
Bradfield Farms Limited (Registered number: 01746998) |
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Statement of Financial Position |
30 September 2020 |
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30.9.20 | 30.9.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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CURRENT ASSETS |
Inventories |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
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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 director and authorised for issue on
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Bradfield Farms Limited (Registered number: 01746998) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2020 |
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1. | STATUTORY INFORMATION |
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Bradfield Farms Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
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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Tangible fixed assets |
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Land and buildings | - |
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Stocks |
Inventories are valued at the lower of cost and net realisable value, 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 have been enacted or substantively enacted by the statement of financial position date. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Bradfield Farms Limited (Registered number: 01746998) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2020 |
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4. | PROPERTY, PLANT AND EQUIPMENT |
Land and |
buildings |
£ |
COST |
At 1 October 2019 |
and 30 September 2020 |
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NET BOOK VALUE |
At 30 September 2020 |
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At 30 September 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.20 | 30.9.19 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.20 | 30.9.19 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.20 | 30.9.19 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 September 2020 and 30 September 2019: |
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30.9.20 | 30.9.19 |
£ | £ |
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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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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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9. | RELATED PARTY DISCLOSURES |
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The director, J E Branston, also owns J E Branston & Son, an unincorporated business. The company is owed £13,346 by the director (2019: creditor £9,266). This amount is included in the accounts as part of the directors' loan account totalling £17,961. |
Bradfield Farms Limited (Registered number: 01746998) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2020 |
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10. | POST BALANCE SHEET EVENTS |
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A dividend of £18,000 was voted 23 June 2021. |
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11. | GOING CONCERN |
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The arrival of Covid 19 in March 2020 and the government restrictions on movement have significantly affected businesses impacting on sales and future survival. The directors will continue to support the company through this period and believe that the business is a going concern. In making this assessment, the directors have considered the likely trading conditions for a period of 12 months from the date of approval of these accounts. |