REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2018 |
for |
T Jowett & Sons (Farmers) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2018 |
for |
T Jowett & Sons (Farmers) Limited |
T Jowett & Sons (Farmers) Limited (Registered number: 01367829) |
Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
T Jowett & Sons (Farmers) Limited |
Company Information |
for the Year Ended 31 March 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Russell Chambers |
61a North Street |
Keighley |
West Yorkshire |
BD21 3DS |
T Jowett & Sons (Farmers) Limited (Registered number: 01367829) |
Statement of Financial Position |
31 March 2018 |
31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
T Jowett & Sons (Farmers) Limited (Registered number: 01367829) |
Statement of Financial Position - continued |
31 March 2018 |
The financial statements were approved by the Board of Directors on by: |
T Jowett & Sons (Farmers) Limited (Registered number: 01367829) |
Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
1. | STATUTORY INFORMATION |
T Jowett & Sons (Farmers) Limited is a |
The company's registered number and registered office address can be found on the Company Information page. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding |
VAT. |
Depreciation |
Is calculated on the reducing balance method in order to write down to its estimated residual value the cost of |
each asset over its expected useful life. |
The depreciation rates used are:- |
(i ) | Motor vehicles and equipment | 20% per annum |
(ii) | Piggeries | 2.5% per annum |
(iii) | Freehold property | 2.5% per annum |
(iv) | Freehold land | not depreciated |
Stocks |
Stock is valued at the lower of cost and net realisable value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
T Jowett & Sons (Farmers) Limited (Registered number: 01367829) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
5. | TANGIBLE FIXED ASSETS |
Motor |
Freehold | Freehold | vehicles |
property | land | Piggeries | & equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2017 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
Value added tax |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade creditors |
Other creditors |
Accrued expenses |
8. | PROVISIONS FOR LIABILITIES |
31.3.18 | 31.3.17 |
£ | £ |
Deferred tax |
Deferred |
tax |
£ |
Balance at 1 April 2017 |
Charge to Income Statement during year |
Balance at 31 March 2018 |
T Jowett & Sons (Farmers) Limited (Registered number: 01367829) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
9. | CONTROL RELATIONSHIPS |
R E Jowett, S Jowett, and M Jowett, directors and shareholders, are considered to be equal controlling parties. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
T Jowett & Sons (Farmers) Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary |
statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of T Jowett & Sons (Farmers) Limited for the year ended 31 March 2018 which comprise the |
Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's |
accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of T Jowett & Sons (Farmers) Limited, as a body, in accordance with the terms of our engagement letter dated 5 October 1995. Our work has been undertaken solely to prepare for your approval the financial statements of T Jowett & Sons (Farmers) Limited and state those matters that we have agreed to state to the Board of Directors of T Jowett & Sons (Farmers) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T Jowett & Sons (Farmers) Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that T Jowett & Sons (Farmers) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of T Jowett & Sons (Farmers) Limited. You consider that T Jowett & Sons (Farmers) Limited 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 financial statements of T Jowett & Sons (Farmers) Limited. 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 financial statements. |
Chartered Accountants |
Russell Chambers |
61a North Street |
Keighley |
West Yorkshire |
BD21 3DS |