REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2016 |
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T PICKLES (FARMS) LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2016 |
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FOR |
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T PICKLES (FARMS) LIMITED |
T PICKLES (FARMS) LIMITED (REGISTERED NUMBER: 00765910) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2016 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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T PICKLES (FARMS) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2016 |
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DIRECTORS: |
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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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Thomas House |
Meadowcroft Business Park |
Pope Lane, Whitestake |
Preston |
PR4 4AZ |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
T PICKLES (FARMS) LIMITED |
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The following reproduces the text of the report prepared for the directors and members in |
respect of the company's annual unaudited financial statements. In accordance with the |
Companies Act 2006, the company is only required to file a Balance Sheet. Readers are |
cautioned that the Statement of Comprehensive Income and certain other primary |
statements and the Report of the Directors are not required to be filed with the Registrar of |
Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have |
prepared for your approval the financial statements of T Pickles (Farms) Limited for the |
year ended 30 April 2016 which comprise the Statement of Comprehensive Income, |
Balance Sheet, and the related notes from the company's accounting records and from |
information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of T Pickles (Farms) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of T Pickles (Farms) Limited and state those matters that we have agreed to state to the Board of Directors of T Pickles (Farms) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that T Pickles (Farms) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of T Pickles (Farms) Limited. You consider that T Pickles (Farms) Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of T Pickles (Farms) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Thomas House |
Meadowcroft Business Park |
Pope Lane, Whitestake |
Preston |
PR4 4AZ |
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
T PICKLES (FARMS) LIMITED |
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T PICKLES (FARMS) LIMITED (REGISTERED NUMBER: 00765910) |
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BALANCE SHEET |
30 APRIL 2016 |
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30/4/16 | 30/4/15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors: amounts falling due
within one year |
6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one
year |
7 |
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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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T PICKLES (FARMS) LIMITED (REGISTERED NUMBER: 00765910) |
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BALANCE SHEET - continued |
30 APRIL 2016 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors on
were signed on its behalf by: |
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T PICKLES (FARMS) LIMITED (REGISTERED NUMBER: 00765910) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2016 |
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1. | STATUTORY INFORMATION |
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T Pickles (Farms) Limited is a
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England and Wales. The company's registered number and registered office address |
can be found on the Company Information page. |
T PICKLES (FARMS) LIMITED (REGISTERED NUMBER: 00765910) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements have been prepared in accordance with Financial |
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and |
Republic of Ireland" Section 1A for small entities and the Companies Act 2006. |
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The principal accounting policies adopted in the preparation of the financial |
statements are set out below and have remained unchanged from the previous |
year and have also been consistently applied within the same accounts. |
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These financial statements for the year ended 30 April 2016 are the first set of |
financial statements that comply with FRS102 Section 1A small entities. The date of |
transition was 1 May 2014. |
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The transition to FRS102 Section 1A for small entities has resulted in a small number of |
changes in accounting policies to those used previously. |
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Although there has been changes these have not impacted on the shareholders |
funds at the transition date, as explained in the notes to the accounts. |
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The financial statements have been prepared under the historical cost convention |
except for modification to a fair value basis for certain fixed assets, as specified in |
the accounting policies below. |
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The company's presentational currency is pounds sterling. |
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Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in |
preparing these financial statements, as permitted by FRS102 "The Financial |
Reporting Standard applicable in the UK and Republic of Ireland": |
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- the requirements of Section 7 Statement of Cash Flows. |
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Significant judgements and estimates |
No significant judgements have had to be made by management and directors in |
preparing these financial statements. |
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Tangible fixed assets |
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T PICKLES (FARMS) LIMITED (REGISTERED NUMBER: 00765910) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
Tangible fixed assets, other than investment properties, are depreciated over their |
useful lives taking into account residual values, where appropriate. The actual lives |
of the assets and residual values are assessed annually and may vary depending on |
a number of factors. In re-assessing asset lives, factors such as technological |
innovation, product life cycles and maintenance programmes are taken into |
account. Residual value assessments consider issues such as future market |
conditions, the remaining life of the asset and projected disposal values. |
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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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Tangible fixed assets |
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Freehold property | - |
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Motor vehicles | - |
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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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Fixed asset investments |
Investments are valued at historical cost. Deficits on revaluation which are |
considered to be permanent are charged to the profit and loss account and |
subsequent reversals are credited. |
T PICKLES (FARMS) LIMITED (REGISTERED NUMBER: 00765910) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in |
the recognition of financial assets and liabilities like trade and other accounts |
receivable and payable, loans from banks and other third parties, loans to related |
parties and investments in non-puttable ordinary shares. |
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Debt instruments like loans and other accounts receivable and payable are initially |
measured at present value of the future payments and subsequently at amortised |
cost using the effective interest method; Debt instruments that are payable or |
receivable within one year, typically trade payables or receivables, are measured, |
initially and subsequently, at the undiscounted amount of the cash or other |
consideration expected to be paid or received. However if the arrangements of a |
short-term instrument constitute a financing transaction, like the payment of a trade |
debt deferred beyond normal business terms or financed at a rate of interest that is |
not a market rate or in case of an outright short-term loan not at market rate, the |
financial asset or liability is measured, initially and subsequently, at the present value |
of the future payments discounted at a market rate of interest for a similar debt |
instrument. |
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Financial assets that are measured at cost and amortised cost are assessed at the |
end of each reporting period for objective evidence of impairment. If objective |
evidence of impairment is found, an impairment loss is recognised in profit or loss. |
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For financial assets measured at amortised cost, the impairment loss is measured as |
the difference between an asset's carrying amount and the present value of |
estimated cash flows discounted at the asset's original effective interest rate. If a |
financial asset has a variable interest rate, the discount rate for measuring any |
impairment loss is the current effective interest rate determined under the contract. |
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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. |
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Financial assets and liabilities are offset and the net amount reported in the |
statement of financial position when there is an enforceable right to set off the |
recognised amounts and there is an intention to settle on a net basis or to realise the |
asset and settle the liability simultaneously. |
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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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T PICKLES (FARMS) LIMITED (REGISTERED NUMBER: 00765910) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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4. | TANGIBLE FIXED ASSETS |
Freehold | Motor |
property | vehicles | Totals |
£ | £ | £ |
COST |
At 1 May 2015 |
and 30 April 2016 |
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DEPRECIATION |
At 1 May 2015 |
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Charge for year |
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At 30 April 2016 |
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NET BOOK VALUE |
At 30 April 2016 |
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At 30 April 2015 |
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5. | FIXED ASSET INVESTMENTS |
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The market value of the listed investments at 30 April 2016 is £19,288 (2015 - £19,584). |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/16 | 30/4/15 |
£ | £ |
Directors' loan account | 3,000 | - |
Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/16 | 30/4/15 |
£ | £ |
Corporation tax |
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Directors' loan account | - | 759 |
Accruals and deferred income |
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T PICKLES (FARMS) LIMITED (REGISTERED NUMBER: 00765910) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended |
30 April 2016 and 30 April 2015: |
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30/4/16 | 30/4/15 |
£ | £ |
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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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( |
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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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( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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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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9. | RELATED PARTY DISCLOSURES |
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There are no further related party transactions other than those previously disclosed |
in the Financial Statements. |
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10. | ULTIMATE CONTROLLING PARTY |
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In the directors' opinion the company is controlled by the directors. There is no one |
controlling party. |
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11. | FIRST YEAR ADOPTION |
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The company has adopted FRS102 for the year ended 30 April 2016. The directors |
have considered the requirements of FRS102 and confirm that there are no |
adjustments to the comparative prior year amounts as a result of this. |