Medlar Fruit Farms Limited
|
For the year ended 31 July 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04497940
Medlar Fruit Farms Limited
For the year ended 31 July 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Medlar Fruit Farms Limited
Accountants' Report
For the year ended 31 July 2015
As described in the balance sheet you are responsible for the preparation of the financial statements for the year
|
ended
31
July
2015
and you consider that the company is exempt from an audit under the Companies Act
2006
.
In
|
accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist you to
|
fulfil your statutory responsibilities
,
from the accounting records and information and explanations supplied to us
.
|
S G Accountants Limited
150A Preston Old Road
Blackpool
Lancashire
FY3 9QP
1 of 4
Abbreviated Balance Sheet
|
Medlar Fruit Farms Limited
2015
2014
2
5,188,333
4,422,025
5,188,333
4,422,025
243,416
295,056
37,653
59,660
144,409
7,479
499,125
288,548
Creditors
:
amounts falling due within one year
|
(459,022)
(512,832)
(170,474)
(13,707)
Net current liabilities
Total assets less current liabilities
|
5,174,626
4,251,551
Creditors
:
amounts falling due after more than one year
|
3
(1,089,938)
(1,709,664)
3,464,962
Net assets
3,161,613
100
4
100
2,535,383
2,535,383
929,479
626,130
3,464,962
3,161,613
Shareholders funds
For the year ended 31 July 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
|
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
|
Date approved by the board: 16 December 2015
|
Signed on behalf of the board of directors
|
2 of 4
Notes to the Abbreviated Financial Statements
|
Medlar Fruit Farms Limited
For the year ended 31 July 2015
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Computer Equipment
The company
'
s freehold properties were professionally valued in
2013
.
This valuation has been reduced by
|
subsequent depreciation
.
Under the transitional provisions of the Financial Reporting Standard for Smaller Entities
|
(
effective April
2008
)
the properties continue to be stated at that valuation less accumulated depreciation to date and
|
that valuation has not been updated
.
|
The company
'
s freehold properties are revalued in full every five years
.
Interim valuations are carried out when it is
|
likely that there has been a material change in value
.
|
No depreciation is provided on the company
'
s freehold properties since in the opinion of the directors the expected
|
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
|
would be immaterial
.
The directors undertake an annual impairment review of these properties
.
|
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
|
3 of 4
Notes to the Abbreviated Financial Statements
|
Medlar Fruit Farms Limited
For the year ended 31 July 2015
4,672,895
813,852
5,486,747
250,870
47,544
Charge for year
298,414
5,188,333
4,422,025
2014
2015
3
Creditors due after more than one year
|
1,709,664
1,089,938
Allotted called up and fully paid
|
2015
2014
100
Class A shares of £
1
.
00
each
|
100
100
100
100
4 of 4