|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
FOR |
|
PLAS FARM LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
FOR |
|
PLAS FARM LIMITED |
PLAS FARM LIMITED (REGISTERED NUMBER: 03003697) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
|
|
|
Page |
|
Company information | 1 |
|
Balance sheet | 2 |
|
Notes to the financial statements | 4 |
|
Chartered certified accountants' report | 8 |
PLAS FARM LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Certified Accountants |
Victoria House |
Plas Llwyd Terrace |
Bangor |
Gwynedd |
LL57 1UB |
PLAS FARM LIMITED (REGISTERED NUMBER: 03003697) |
|
BALANCE SHEET |
31 DECEMBER 2017 |
|
31.12.17 | 31.12.16 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
) |
( |
) |
|
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
PLAS FARM LIMITED (REGISTERED NUMBER: 03003697) |
|
BALANCE SHEET - continued |
31 DECEMBER 2017 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
behalf by: |
|
|
|
|
|
|
|
PLAS FARM LIMITED (REGISTERED NUMBER: 03003697) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
1. | STATUTORY INFORMATION |
|
Plas Farm Limited is a
|
company's registered number and registered office address can be found on the Company Information |
page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents amounts receivable for food products, net of VAT and trade discounts. |
|
Tangible fixed assets |
|
Land and buildings | - |
|
Plant and machinery etc | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete |
and slow moving items. |
|
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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 balance sheet date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
|
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. |
|
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. |
|
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
|
PLAS FARM LIMITED (REGISTERED NUMBER: 03003697) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
2. | ACCOUNTING POLICIES - continued |
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held |
under finance leases are depreciated over their estimated useful lives or the lease term, whichever is |
the shorter. |
|
The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
|
Government grants |
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit |
and loss account over the expected useful life of the assets. Grants towards revenue expenditure are |
released to the profit and loss account as the related expenditure is incurred. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2017 |
|
|
|
Additions |
|
|
|
At 31 December 2017 |
|
|
|
DEPRECIATION |
At 1 January 2017 |
|
|
|
Charge for year |
|
|
|
At 31 December 2017 |
|
|
|
NET BOOK VALUE |
At 31 December 2017 |
|
|
|
At 31 December 2016 |
|
|
|
PLAS FARM LIMITED (REGISTERED NUMBER: 03003697) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
|
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2017 |
|
Additions |
|
Transfer to ownership | (58,980 | ) |
At 31 December 2017 |
|
DEPRECIATION |
At 1 January 2017 |
|
Charge for year |
|
Transfer to ownership | (33,103 | ) |
At 31 December 2017 |
|
NET BOOK VALUE |
At 31 December 2017 |
|
At 31 December 2016 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
Other debtors includes £200,000 ( 2016 - £200,000 ) owing by NFF Limited, a company in which the |
controlling shareholder H D Williams has an interest. |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
PLAS FARM LIMITED (REGISTERED NUMBER: 03003697) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts |
|
|
Other creditors |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loan | 416,436 | 175,742 |
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
31.12.17 | 31.12.16 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts | 143,157 | 33,068 |
|
|
|
9. | TRANSACTIONS WITH DIRECTORS |
|
The director's loan £523,256 ( 2016 - £409,157 ) is included in creditors falling due after more than one |
year. |
|
10. | ULTIMATE CONTROLLING PARTY |
|
The ultimate controlling party is H. D. Williams, director and majority shareholder. |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
PLAS FARM LIMITED |
|
The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance sheet. Readers are cautioned that the Income statement and certain |
other primary statements and the Directors' report are not required to be filed with the Registrar of |
Companies. |
|
In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval |
the accounts of Plas Farm Limited for the year ended 31 December 2017 from the Company's accounting |
records and from information and explanations you have given us. |
|
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical |
and other professional requirements which are detailed at http://rulebook.accaglobal.com. |
|
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified |
Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
|
|
|
|
|
|
Chartered Certified Accountants |
Victoria House |
Plas Llwyd Terrace |
Bangor |
Gwynedd |
LL57 1UB |
|
|
|