Company Registration No. 03386346 (England and Wales)
Staplefell Limited
Unaudited accounts
for the year ended 30 September 2016
Staplefell Limited
Unaudited accounts
Contents
Staplefell Limited
Company Information
for the year ended 30 September 2016
Company Number
03386346 (England and Wales)
Registered Office
Cumberland Court
80 Mount Street
Nottingham
NG1 6HH
United Kingdom
Accountants
EllamWalker Ltd
Sydeham Farm
Rackenford
Tiverton
Devon
EX16 8ER
Staplefell Limited
Statement of financial position
as at
30 September 2016
Tangible assets
495,984
500,188
Cash at bank and in hand
6,305
17,471
Creditors: amounts falling due within one year
(51,452)
(46,820)
Net current assets
22,537
145,667
Total assets less current liabilities
518,521
645,855
Provisions for liabilities
Deferred tax
(2,166)
(3,006)
Net assets
516,355
642,849
Called up share capital
510,000
510,000
Profit and loss account
6,355
132,849
Shareholders' funds
516,355
642,849
For the year ending 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.
Approved by the Board on 20 September 2017.
Mrs A Besterman
Director
Company Registration No. 03386346
Staplefell Limited
Notes to the Accounts
for the year ended 30 September 2016
Staplefell Limited is a private company, limited by shares, registered in England and Wales, registration number 03386346. The principal place of business is Stockwell Farm, Birdlip, Gloucester, GL4 8JZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 September 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2014.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents net invoiced sales of goods, excluding value added tax.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Estimated period to replacement
Plant & machinery
10-20% Reducing Balance
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Staplefell Limited
Notes to the Accounts
for the year ended 30 September 2016
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 October 2015
485,156
45,811
530,967
Disposals
-
(3,090)
(3,090)
At 30 September 2016
485,156
42,721
527,877
At 1 October 2015
-
30,779
30,779
Charge for the year
-
2,707
2,707
On disposals
-
(1,593)
(1,593)
At 30 September 2016
-
31,893
31,893
At 30 September 2016
485,156
10,828
495,984
At 30 September 2015
485,156
15,032
500,188
Finished goods
9,480
9,480
Accrued income and prepayments
58,200
-
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Creditors: amounts falling due within one year
2016
2015
Trade creditors
5,040
5,064
Corporation tax
20,217
28,934
Other creditors
26,195
12,822
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Share capital
2016
2015
Allotted, called up and fully paid:
510,000 Ordinary shares of £1 each
510,000
510,000
Staplefell Limited
Notes to the Accounts
for the year ended 30 September 2016
9
Operating lease commitments
2016
2015
At 30 September 2016 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
10
Transactions with related parties
In the ordinary course of its business the company made sales and purchase with farm businesses owned by the executors of Mr A Besterman Deceased under normal trading terms as follows: Sales Agricultural Contracting - £7,000 (2015 - £7,000).
Included in other creditors is a directors loan of £17,181 (2015 debtor £165,467). Interest has been charged on this loan where the balance was such that the director owed to the company.
The ultimate controlling party is Mrs A Besterman
12
Average number of employees
During the year the average number of employees was 0 (2015: 0).