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REGISTERED NUMBER:
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Financial Statements |
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for the Period |
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1 September 2015 to 28 February 2017 |
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for |
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Hammond Food Oils Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Period |
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1 September 2015 to 28 February 2017 |
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for |
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Hammond Food Oils Limited |
Hammond Food Oils Limited (Registered number: 07045646) |
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Contents of the Financial Statements |
for the Period 1 September 2015 to 28 February 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Hammond Food Oils Limited |
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Company Information |
for the Period 1 September 2015 to 28 February 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
Chartered Accountants & Business Advisers |
15 Newland |
Lincoln |
Lincolnshire |
LN1 1XG |
Hammond Food Oils Limited (Registered number: 07045646) |
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Balance Sheet |
28 February 2017 |
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2017 | 2015 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Hammond Food Oils Limited (Registered number: 07045646) |
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Notes to the Financial Statements |
for the Period 1 September 2015 to 28 February 2017 |
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1. | STATUTORY INFORMATION |
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Hammond Food Oils Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of the business in 2009 was fully written off |
in the same year due the immaterial nature of the balance. |
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Brands |
The other intangible assets represent the two brands held by the company. These are Borderfields and Oleifera. |
Borderfields was capitalised in 2010 and Oleifera was purchased in 2011. Both brands are being amortised over |
their estimated useful lives of 10 years. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date where transactions or events have occurred at that date that will result in an obligation to |
pay more, or a right to pay less or to receive more tax, with the following exceptions: |
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a) Provision is made for tax arising on gains arising from the revaluation (and similar fair value adjustments) of |
fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to |
the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. |
However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more |
likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the |
replacement assets are sold. |
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b) Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not |
that there will be suitable taxable profits from which the future reversal of the underlying timing differences can |
be deducted. |
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Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in |
which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance |
sheet date.Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's |
pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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Hammond Food Oils Limited (Registered number: 07045646) |
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Notes to the Financial Statements - continued |
for the Period 1 September 2015 to 28 February 2017 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 September 2015 |
and 28 February 2017 |
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AMORTISATION |
At 1 September 2015 |
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Charge for period |
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At 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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At 31 August 2015 |
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5. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2015 |
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Additions |
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At 28 February 2017 |
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DEPRECIATION |
At 1 September 2015 |
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Charge for period |
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At 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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At 31 August 2015 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 September 2015 |
and 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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At 31 August 2015 |
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Hammond Food Oils Limited (Registered number: 07045646) |
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Notes to the Financial Statements - continued |
for the Period 1 September 2015 to 28 February 2017 |
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7. | DEBTORS |
2017 | 2015 |
as restated |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Amounts falling due after more than one year: |
Amounts owed by group undertakings |
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Aggregate amounts |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2015 |
as restated |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Payments on account |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2015 |
as restated |
£ | £ |
Hire purchase contracts |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2015 |
value: | as restated |
£ | £ |
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Ordinary | £0.01 | 100 | 100 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | ULTIMATE CONTROLLING PARTY |
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Grovetree Limited is the ultimate controlling party as Phoenix Farm Group Limited has a controlling interest in |
Hammond Food Oils Limited and Grovetree Limited has a controlling interest in Phoenix Farm Group Limited. |
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13. | FIRST YEAR ADOPTION |
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No adjustments have been made in respect of the transition to FRS102. |