Medlar Fruit Farms Limited
|
Registered Number
:
04497940
|
For the year ended 31 July 2017
England and Wales
Unaudited Financial Statements
For the year ended 31 July 2017
Medlar Fruit Farms Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Medlar Fruit Farms Limited
Statement of Financial Position
2016
2017
Property
,
plant and equipment
|
5,838,744
5,375,208
2
5,838,744
5,375,208
177,621
159,396
Trade and other receivables
|
31,003
88,992
3
376,767
Cash and cash equivalents
|
442,892
691,280
585,391
Trade and other payables
:
amounts falling due within one
|
year
|
(471,093)
(340,755)
4
114,298
350,525
Net current assets
Total assets less current liabilities
|
6,189,269
5,489,506
Trade and other payables
:
amounts falling due after more
|
than one year
|
(1,658,623)
(1,865,160)
5
4,324,109
Net assets
3,830,883
100
100
2,535,383
2,535,383
6
1,788,626
1,295,400
4,324,109
3,830,883
Shareholders' funds
For the year ended 31 July 2017 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 of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
|
These financial statements were approved and authorised for issue by the Board on 27 September 2017 and were signed by:
|
1 of 5
For the year ended 31 July 2017
Medlar Fruit Farms Limited
Statement of Financial Position Continued
The notes form part of these financial statements
|
2 of 5
For the year ended 31 July 2017
Medlar Fruit Farms Limited
Notes to the Financial Statements
Statutory Information
Medlar Fruit Farms Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
|
registration number
04497940
.
|
Solarium Nurseries
Medlar Lane
Medlar With Wesham
Kirkham Preston
PR4 3HR
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
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
0
.
This valuation has been reduced by subsequent
|
depreciation
.
Under the transitional provisions of the Financial Reporting Standard for Smaller Entities
(
effective
|
January
2015
)
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
.
|
Inventories
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 5
For the year ended 31 July 2017
Medlar Fruit Farms Limited
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
5,759,582
1,350
1,156,363
4,601,869
540,482
-
385,964
154,518
4,756,387
1,542,327
1,350
6,300,064
Provision for depreciation and impairment
|
384,374
1,194
383,180
-
Charge for year
76,946
48
76,898
-
461,320
1,242
460,078
-
4,756,387
1,082,249
108
5,838,744
4,601,869
773,183
156
5,375,208
3
.
Trade and other receivables
|
2016
2017
88,992
31,003
4
.
Trade and other payables
:
amounts falling due within one year
|
2016
2017
24,713
25,752
Taxation and social security
|
8,053
9,340
307,989
436,001
340,755
471,093
5
.
Trade and other payables
:
amounts falling due after more than one year
|
2016
2017
1,865,160
1,658,623
4 of 5
For the year ended 31 July 2017
Medlar Fruit Farms Limited
Notes to the Financial Statements Continued
Revaluation reserve at
01
August
2016
|
2,535,383
2,535,383
Revaluation reserve at
31
July
2017
|
5 of 5