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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2019 |
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ASHFARM LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2019 |
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FOR |
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ASHFARM LIMITED |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ASHFARM LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
10 Jesus Lane |
Cambridge |
Cambridgeshire |
CB5 8BA |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
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BALANCE SHEET |
31 AUGUST 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Fair value reserve | 12 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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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. |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
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BALANCE SHEET - continued |
31 AUGUST 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved by the director on
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ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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1. | STATUTORY INFORMATION |
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Ashfarm Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents short term accommodation sales, revenue is recognised on an accruals basis once the |
right to consideration has been earnt. The company is not registered for value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment property |
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes |
in fair value is recognised in profit or loss. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 September 2018 |
and 31 August 2019 |
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DEPRECIATION |
At 1 September 2018 |
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Charge for year |
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At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 September 2018 |
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Revaluations | 5,000 |
At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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Fair value at 31 August 2019 is represented by: |
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Valuation in 2015 | 120,350 |
Valuation in 2016 | 29,150 |
Valuation in 2017 | 2,650 |
Valuation in 2018 | 9,850 |
Valuation in 2019 | 5,000 |
Cost | 235,000 |
402,000 |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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6. | INVESTMENT PROPERTY - continued |
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If investment property had not been revalued it would have been included at the following historical cost: |
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2019 | 2018 |
£ | £ |
Cost | 235,000 | 235,000 |
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Investment property was valued on an open market basis on 31 August 2019 by the director . |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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9. | SECURED DEBTS |
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Bank loans and overdrafts are secured under a debenture by way of a fixed and floating charge over all assets |
of the company. |
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10. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 32,935 | 31,985 |
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Deferred |
tax |
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Balance at 1 September 2018 |
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Provided during year |
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Balance at 31 August 2019 |
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Deferred tax is recognised in respect of fair value gains on investment property. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |
ASHFARM LIMITED (REGISTERED NUMBER: 04890886) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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12. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 September 2018 |
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Net transfer to fair value |
reserve. | 4,050 |
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At 31 August 2019 |
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13. | RELATED PARTY DISCLOSURES |
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During the year under review a property management fee of £14,566 (2018: £13,081) was charged. |
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Shown within other creditors is an amount of £173,754 (2018: £125,979) due to the director. This balance has |
no fixed date of repayment and incudes interest charged of £3,703 (2018: £3,181). |