Registration number:
Church Farm Estate (Shottery) Limited
for the Year Ended 28 February 2018
Chartered Accountants
Rowan
Roper's Lane
Wrington
North Somerset
BS40 5NQ
Church Farm Estate (Shottery) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Church Farm Estate (Shottery) Limited
Company Information
Directors |
Ms O Allen Mrs C S Pickles |
Registered office |
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Registered number |
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Accountants |
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Page 1 |
Church Farm Estate (Shottery) Limited
(Registration number: 06511297)
Balance Sheet as at 28 February 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 2 |
Church Farm Estate (Shottery) Limited
(Registration number: 06511297)
Balance Sheet as at 28 February 2018
Approved and authorised by the
.........................................
Director
Page 3 |
Church Farm Estate (Shottery) Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
General information |
The company's registered number and registered office address can be found on the Company Information page.
The company is a private company limited by share capital, incorporated in England and Wales.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
33% Reducing Balance |
Page 4 |
Church Farm Estate (Shottery) Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Financial instruments
Classification
Recognition and measurement
Impairment
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Page 5 |
Church Farm Estate (Shottery) Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
Tangible assets |
Land and buildings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 March 2017 |
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At 28 February 2018 |
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Depreciation |
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At 1 March 2017 |
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At 28 February 2018 |
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Carrying amount |
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At 28 February 2018 |
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At 28 February 2017 |
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Included within the net book value of land and buildings above is £219,863 (2017 - £219,863) in respect of freehold land and buildings.
Stocks |
2018 |
2017 |
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Stock |
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- |
Debtors |
2018 |
2017 |
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Trade debtors |
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- |
Other debtors |
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- |
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- |
Page 6 |
Church Farm Estate (Shottery) Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
Creditors |
Creditors: amounts falling due within one year
2018 |
2017 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Page 7 |