Registered Number 08122451
PARR FARMING LIMITED
Abbreviated Accounts
30 September 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 3 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The herd is recognised on the balance sheet using the herd basis, in line with the tax treatment of Section 109 of the Corporation Tax 2009, which is a departure from the Companies Act 2006.
Turnover policy
Tangible assets depreciation policy
Plant and machinery 15% reducing balance
Other accounting policies
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finanse leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Stock
Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with HM Revenue & Customs guidance HS232
Deferred Taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
£ | |
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Cost | |
At 1 October 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 September 2016 |
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Depreciation | |
At 1 October 2015 |
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Charge for the year |
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On disposals |
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At 30 September 2016 |
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Net book values | |
At 30 September 2016 | 293,588 |
At 30 September 2015 | 295,109 |
2016
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2015
£ |
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Instalment debts due after 5 years |
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