For the year ended 31 December 2014
Unaudited Abbreviated Report and Financial Statements
Northern Ireland
Registered Number: NI610358
Hallview Farm Limited
For the year ended 31 December 2014
1
Accountants' Report
2
Balance Sheet
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Notes to the Abbreviated Financial Statements
Hallview Farm Limited
Accountants' Report
For the year ended 31 December 2014
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
|
ended
31
December
2014
and you consider that the company is exempt from an audit under the Companies Act
|
2006
.
|
In accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist you
|
to fulfil your statutory responsibilities
,
from the accounting records and information and explanations supplied to us
.
|
This report is made to the Company
'
s Board of Directors
,
as a body
,
in accordance with the terms of our
|
engagement
.
Our work has been undertaken so that we might compile the financial statements that we have been
|
engaged to compile
,
report to the Company
'
s Board of Directors that we have done so
,
and state those matters that
|
we have agreed to state to them in this report and for no other purpose
.
To the fullest extent permitted by law
,
we
|
do not accept or assume responsibility to anyone other than the Company and the Company
'
s Board of Directors
,
|
as a body
,
for our work
,
or for this report
.
|
We have not been instructed to carry out an audit of the financial statements
.
For this reason
,
we have not verified
|
the accuracy or completeness of the accounting records or information or explanations you have given to us and
|
we do not
,
therefore
,
express any opinion on the financial statements
.
|
Ivan Shannon & Company
Incorporated Financial Accountants
39 Church Street
Ballynahinch
Co Down
BT24 8AF
19 May 2015
1 of 4
Notes to the Abbreviated Financial Statements
|
Hallview Farm Limited
For the year ended 31 December 2014
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
|
The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Land & Buildings - NilPlant & machinery - 20% reducing balance
|
No depreciation is provided on the company
'
s freehold properties since in the opinion of the directors the expected
|
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
|
would be immaterial
.
The directors undertake an annual impairment review of these properties
.
|
Assets on finance lease and hire purchase
|
Assets held under finance lease or hire purchase contracts i
.
e
.
those contracts where substantially all the risks and
|
rewards of ownership have passed to the company
,
are included in the appropriate category of tangible fixed assets
|
and depreciated over the shorter of the lease term and their estimated expected useful lives
.
|
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods
.
|
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
3 of 4
Notes to the Abbreviated Financial Statements
|
Hallview Farm Limited
For the year ended 31 December 2014
125,307
11,120
136,427
17,142
9,679
Charge for year
26,821
109,606
108,165
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