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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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JOLPOOL FARMING LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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JOLPOOL FARMING LIMITED |
JOLPOOL FARMING LIMITED (REGISTERED NUMBER: 08221181) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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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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JOLPOOL FARMING LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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JOLPOOL FARMING LIMITED (REGISTERED NUMBER: 08221181) |
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BALANCE SHEET |
31 MARCH 2017 |
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31/3/17 | 31/3/16 |
Notes | £ | £ |
CURRENT ASSETS |
Prepayments and accrued income |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
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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
its behalf by: |
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JOLPOOL FARMING LIMITED (REGISTERED NUMBER: 08221181) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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Jolpool Farming Limited is a
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The company's 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. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These are the first financial statements the Company has prepared in accordance with Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of |
Ireland'' (FRS 102) as applied to smaller entities by the adoption of Section 1A of FRS 102. The |
financial statements for the year ended 31 March 2016 were prepared in accordance with Financial |
Reporting Standard for Smaller Entities (effective January 2015) (FRSSE). |
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Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and |
accounting policy choices differ from the FRSSE. Consequently the directors have amended certain |
accounting policies to comply with FRS 102. The directors have also taken advantage of certain |
exemptions from the requirements of FRS 102 permitted by FRS 102 Chapter 35 ''Transition to FRS''. |
There are no changes in the prior period on transition to FRS 102 as the directors consider them to be |
immaterial to financial statements. |
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Financial instruments |
FINANCIAL ASSETS |
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Trade, group and other debtors |
Trade, group and other debtors (including accrued income) which are receivable within one year and |
which do not constitute a financing transaction are initially measured at the transaction price and |
subsequently measured at amortised cost, being the transaction price less any amounts settled and |
any impairment losses. |
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FINANCIAL LIABILITIES |
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Trade, group and other creditors |
Trade, group and other creditors (including accruals) payable within one year that do not constitute a |
financing transaction are initially measured at the transaction price and subsequently measured at |
amortised cost, being transaction price less any amounts settled. |
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Derecognition of financial assets and liabilities |
A financial asset is only derecognised when the contractual rights to cash flows expire or are settled, or |
substantially all the risks and rewards of ownership are transferred to another party, or if some |
significant risks and rewards of ownership are retained but control of the asset has transferred to |
another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability |
(or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled |
or expires. |
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JOLPOOL FARMING LIMITED (REGISTERED NUMBER: 08221181) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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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. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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3. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/17 | 31/3/16 |
£ | £ |
Taxation |
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4. | RELATED PARTY DISCLOSURES |
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At the balance sheet date, the amount owing by W Millington & Co to the company was £145,488 |
(2016: £137,316). |
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5. | ULTIMATE CONTROLLING PARTY |
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The company is under the ultimate control of the directors by virtue of their ability to act in concert in |
the respect of operating and financial policies of the company. |
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6. | SECURED DEBTS |
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Clydesdale Bank Plc have a debenture in place dated 22 October 2013 securing a fixed and floating |
charge over all the current and fixed assets of the company. |