REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 September 2020 |
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for |
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G. COLLINS (FARMS) LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 September 2020 |
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for |
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G. COLLINS (FARMS) LIMITED |
G. COLLINS (FARMS) LIMITED (REGISTERED NUMBER: 00725257) |
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Contents of the Financial Statements |
for the year ended 30 September 2020 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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G. COLLINS (FARMS) LIMITED (REGISTERED NUMBER: 00725257) |
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Balance Sheet |
30 September 2020 |
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30/9/20 | 30/9/19 |
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 at bank |
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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 |
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Other reserves | 10 |
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Retained earnings | 10 |
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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 |
(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. |
G. COLLINS (FARMS) LIMITED (REGISTERED NUMBER: 00725257) |
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Balance Sheet - continued |
30 September 2020 |
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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 and authorised for issue on
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G. COLLINS (FARMS) LIMITED (REGISTERED NUMBER: 00725257) |
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Notes to the Financial Statements |
for the year ended 30 September 2020 |
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1. | Statutory information |
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G. Collins (Farms) Limited is a
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Registered number: | 00725257 |
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Registered office: | Sterling House |
19/23 High Street |
Kidlington |
Oxfordshire |
OX5 2DH |
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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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Amortisation |
Amortisation is calculated to write off intangible fixed assets over their expected useful economic lives. The Basic payment Scheme entitlements are amortised to Nil over the period to 31 March 2020. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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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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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G. COLLINS (FARMS) LIMITED (REGISTERED NUMBER: 00725257) |
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Notes to the Financial Statements - continued |
for the year ended 30 September 2020 |
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2. | Accounting policies - continued |
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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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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Going concern |
The directors have made an assessment of the company's ability to continue as a going concern and have identified no material uncertainties that may cast a significant doubt on the ability of the company to continue as a going concern for the foreseeable future. |
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3. | Employees and directors |
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The average number of employees during the year was
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G. COLLINS (FARMS) LIMITED (REGISTERED NUMBER: 00725257) |
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Notes to the Financial Statements - continued |
for the year ended 30 September 2020 |
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4. | Intangible fixed assets |
Other |
intangible |
assets |
£ |
Cost |
At 1 October 2019 |
and 30 September 2020 |
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Amortisation |
At 1 October 2019 |
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Charge for year |
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At 30 September 2020 |
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Net book value |
At 30 September 2020 |
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At 30 September 2019 |
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5. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 October 2019 |
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Additions |
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Disposals | ( |
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At 30 September 2020 |
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Depreciation |
At 1 October 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 September 2020 |
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Net book value |
At 30 September 2020 |
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At 30 September 2019 |
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G. COLLINS (FARMS) LIMITED (REGISTERED NUMBER: 00725257) |
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Notes to the Financial Statements - continued |
for the year ended 30 September 2020 |
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5. | Tangible fixed assets - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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Cost |
At 1 October 2019 |
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Transfer to ownership | (185,000 | ) |
At 30 September 2020 |
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Depreciation |
At 1 October 2019 |
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Charge for year |
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Transfer to ownership | (38,970 | ) |
At 30 September 2020 |
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Net book value |
At 30 September 2020 |
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At 30 September 2019 |
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6. | Fixed asset investments |
Other |
investments |
£ |
Cost |
At 1 October 2019 |
and 30 September 2020 |
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Net book value |
At 30 September 2020 |
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At 30 September 2019 |
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7. | Debtors: amounts falling due within one year |
30/9/20 | 30/9/19 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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G. COLLINS (FARMS) LIMITED (REGISTERED NUMBER: 00725257) |
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Notes to the Financial Statements - continued |
for the year ended 30 September 2020 |
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8. | Creditors: amounts falling due within one year |
30/9/20 | 30/9/19 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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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 |
30/9/20 | 30/9/19 |
£ | £ |
Hire purchase contracts |
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10. | Reserves |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
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At 1 October 2019 |
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5,208,894 |
Profit for the year |
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Dividends | ( |
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At 30 September 2020 |
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5,717,412 |
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11. | Directors' advances, credits and guarantees |
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The following advances and credits to a director subsisted during the years ended 30 September 2020 and 30 September 2019: |
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30/9/20 | 30/9/19 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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12. | Ultimate controlling party |
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The controlling party is Trustees of S J H Collins 1996Discretionary Trust. |