Registration number:
T.Pickles (Farms) Limited
for the Year Ended 30 April 2020
Pages for filing with Registrar
T.Pickles (Farms) Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
T.Pickles (Farms) Limited
Company Information
Directors |
Mr AF Pickles Mrs A Pickles Mr T Pickles Mr L T Pickles |
Registered office |
|
T.Pickles (Farms) Limited
(Registration number: 00765910)
Balance Sheet as at 30 April 2020
Note |
2020 |
2019 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investment property |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
- |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
T.Pickles (Farms) Limited
(Registration number: 00765910)
Balance Sheet as at 30 April 2020 (continued)
For the financial year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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.
Approved and authorised by the
......................................... |
T.Pickles (Farms) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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.
The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
T.Pickles (Farms) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020 (continued)
2 |
Accounting policies (continued) |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet 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 |
Motor Vehicles |
25% reducing balance |
Land and buildings |
2% straight line |
Investment property
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Listed investments are initially included at cost and subsequently fair valued at the market rate prevalent at the end of the reporting period.
T.Pickles (Farms) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020 (continued)
2 |
Accounting policies (continued) |
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Classification
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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 liability simultaneously.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
T.Pickles (Farms) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020 (continued)
Tangible assets |
Land and buildings |
Motor vehicles |
Total |
|
Cost or valuation |
|||
At 1 May 2019 |
|
|
|
At 30 April 2020 |
|
|
|
Depreciation |
|||
At 1 May 2019 |
|
|
|
Charge for the year |
|
|
|
At 30 April 2020 |
|
|
|
Carrying amount |
|||
At 30 April 2020 |
|
|
|
At 30 April 2019 |
|
|
|
Included within the net book value of land and buildings above is £7,992 (2019 - £8,298) in respect of freehold land and buildings.
Investment properties |
2020 |
|
At 1 May |
|
Disposals |
( |
At 30 April |
|
Freehold property with a valuation of £345,335 is held for rental purposes. The directors deem this value to be appropriate.
There has been no valuation of investment property by an independent valuer.
T.Pickles (Farms) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020 (continued)
Investments |
Listed investments |
£ |
Cost or valuation |
|
At 1 May 2019 |
|
Revaluation |
( |
At 30 April 2020 |
|
Carrying amount |
|
At 30 April 2020 |
|
At 30 April 2019 |
|
Debtors |
2020 |
2019 |
|
Other debtors |
- |
|
Prepayments and accrued income |
293 |
447 |
Total current trade and other debtors |
|
|
Creditors |
Note |
2020 |
2019 |
|
Due within one year |
|||
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
9 Company reserves
Within profit and loss reserve account totalling £404,842, there are amounts that are distributable and non-distributable to shareholders.
Amounts totalling £277,529 (2019: £241,335) are distributable and amounts totalling £127,313 (2019: £219,900) are non-distributable.