Company Registration No. 05733889 (England and Wales)
Natural Feeds & Fertilisers Ltd
Unaudited accounts
for the year ended 31 March 2017
Natural Feeds & Fertilisers Ltd
Unaudited accounts
Contents
Natural Feeds & Fertilisers Ltd
Company Information
for the year ended 31 March 2017
Company Number
05733889 (England and Wales)
Registered Office
THE OLD CONVENT, LLANBADARN ROAD
ABERYSTWYTH
CEREDIGION
SY23 1EY
Accountants
Kyffin & Co
The Old Convent
Llanbadarn Road
Aberystwyth
Ceredigion
SY23 1WX
Natural Feeds & Fertilisers Ltd
Accountants' report
Accountants' report to the director of Natural Feeds & Fertilisers Ltd on the preparation of the unaudited statutory accounts for the year ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Natural Feeds & Fertilisers Ltd for the year ended
31 March 2017 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Natural Feeds & Fertilisers Ltd , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Natural Feeds & Fertilisers Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Natural Feeds & Fertilisers Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Natural Feeds & Fertilisers Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Natural Feeds & Fertilisers Ltd . You consider that Natural Feeds & Fertilisers Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Natural Feeds & Fertilisers Ltd . 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 accounts.
Kyffin & Co
The Old Convent
Llanbadarn Road
Aberystwyth
Ceredigion
SY23 1WX
26 June 2017
Natural Feeds & Fertilisers Ltd
Statement of financial position
as at
31 March 2017
Tangible assets
2,110
2,367
Cash at bank and in hand
6,154
8,417
Creditors: amounts falling due within one year
(18,358)
(24,495)
Net current (liabilities)/assets
(3,557)
120
Net (liabilities)/assets
(1,447)
2,487
Called up share capital
100
100
Profit and loss account
(1,547)
2,387
Shareholders' funds
(1,447)
2,487
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 26 June 2017.
Dr L H Edwards
Director
Company Registration No. 05733889
Natural Feeds & Fertilisers Ltd
Notes to the Accounts
for the year ended 31 March 2017
Natural Feeds & Fertilisers Ltd is a private company, limited by shares, registered in England and Wales, registration number 05733889. The registered office is THE OLD CONVENT, LLANBADARN ROAD, ABERYSTWYTH, CEREDIGION, SY23 1EY. The principal place of business is Maedy Cwrt, Penrhyncoch, Aberystwyth, Ceredigion, SY23 3EG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% Reducing Balance
Computer equipment
20% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Natural Feeds & Fertilisers Ltd
Notes to the Accounts
for the year ended 31 March 2017
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2016
3,670
934
4,604
At 31 March 2017
3,670
934
4,604
At 1 April 2016
1,506
731
2,237
Charge for the year
216
41
257
At 31 March 2017
1,722
772
2,494
At 31 March 2017
1,948
162
2,110
At 31 March 2016
2,164
203
2,367
Finished goods
7,353
15,485
7
Creditors: amounts falling due within one year
2017
2016
Trade creditors
2,186
3,185
Taxes and social security
349
-
Loans from directors
15,123
20,610
8
Share capital
2017
2016
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
In the opinion of the Director, the ultimate controlling party of the Company is Dr L H Edwards by virtue of her 100% Shareholding.
Natural Feeds & Fertilisers Ltd
Notes to the Accounts
for the year ended 31 March 2017
10
Average number of employees
During the year the average number of employees was 1 (2016: 1).