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WESTER HARDMUIR FRUIT FARM LTD |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DRAFT |
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WESTER HARDMUIR FRUIT FARM LTD |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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WESTER HARDMUIR FRUIT FARM LTD (REGISTERED NUMBER: SC464233) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2016 |
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DRAFT |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 6 |
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WESTER HARDMUIR FRUIT FARM LTD |
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COMPANY INFORMATION |
for the year ended 31 December 2016 |
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DRAFT |
DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Redwood |
19 Culduthel Road |
Inverness |
IV2 4AA |
WESTER HARDMUIR FRUIT FARM LTD (REGISTERED NUMBER: SC464233) |
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BALANCE SHEET |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
DRAFT |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Allotted, called up and fully |
paid share capital |
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Profit and loss account - |
distributable |
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SHAREHOLDERS' FUNDS |
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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. |
WESTER HARDMUIR FRUIT FARM LTD (REGISTERED NUMBER: SC464233) |
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BALANCE SHEET - continued |
31 December 2016 |
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DRAFT |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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WESTER HARDMUIR FRUIT FARM LTD (REGISTERED NUMBER: SC464233) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2016 |
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DRAFT |
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1. | STATUTORY INFORMATION |
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Wester Hardmuir Fruit Farm Ltd is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods arising from the growing and retailing of fruit and |
vegetables. |
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Tangible fixed assets |
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Solar Panels | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for |
the current or past reporting periods. It is measured at the amount expected to be paid or recovered using |
the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
exceptions. Timing differences are differences between taxable profits and total comprehensive income as |
stated in the financial statements that arise from the inclusion of income and expense in tax assessments in |
periods different from those in which they are recognised in the financial statements. Unrelieved tax losses |
and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered |
against the reversal of deferred tax liabilities or other future taxable profits. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by |
the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on |
revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and |
allowances that apply to the sale of the asset. |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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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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WESTER HARDMUIR FRUIT FARM LTD (REGISTERED NUMBER: SC464233) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2016 |
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DRAFT |
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4. | TANGIBLE FIXED ASSETS |
Solar | Plant and | Motor |
Panels | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax | 19,886 | 23,730 |
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Deferred |
tax |
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Balance at 1 January 2016 |
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(Credit) to profit and loss |
account | (3,844 | ) |
Balance at 31 December 2016 |
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WESTER HARDMUIR FRUIT FARM LTD (REGISTERED NUMBER: SC464233) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2016 |
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7. | PROVISIONS FOR LIABILITIES - continued |
DRAFT |
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The deferred tax balance consisted of accelerated capital allowances. |
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8. | FIRST YEAR ADOPTION |
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Wester Hardmuir Fruit Farm Ltd has prepared its accounts under FRS102 for the first time this year. There |
were no transition adjustments required. |
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