Company Registration No. 08853712 (England and Wales)
Skillet Hill Farm Limited
Unaudited accounts
for the year ended 31 January 2018
Skillet Hill Farm Limited
Unaudited accounts
Contents
Skillet Hill Farm Limited
Company Information
for the year ended 31 January 2018
Director
Mr N. C. Thompson
Company Number
08853712 (England and Wales)
Registered Office
103 High Street
Waltham Cross
Hertfordshire
EN8 7AN
Accountants
Brindley Goldstein Ltd
103 High Street
Waltham Cross
Herts.
EN8 7AN
Skillet Hill Farm Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Skillet Hill Farm Limited for the year ended 31 January 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Skillet Hill Farm Limited for the year ended
31 January 2018 as set out on pages
5 -
8 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 at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Skillet Hill Farm Limited, as a body, in accordance with the terms of our engagement letter dated 3 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of Skillet Hill Farm Limited and state those matters that we have agreed to state to the Board of Directors of Skillet Hill Farm Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Skillet Hill Farm Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Skillet Hill Farm Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Skillet Hill Farm Limited. You consider that Skillet Hill Farm 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 accounts of Skillet Hill Farm 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 accounts.
Brindley Goldstein Ltd
Chartered Accountants
103 High Street
Waltham Cross
Herts.
EN8 7AN
24 October 2018
Skillet Hill Farm Limited
Statement of financial position
as at 31 January 2018
Tangible assets
4,237,589
2,591,634
Cash at bank and in hand
119,001
86,535
Creditors: amounts falling due within one year
(19,685)
63,648
Net current assets
388,509
409,579
Net assets
4,626,098
3,001,213
Called up share capital
3,000,000
3,000,000
Revaluation reserve
1,500,000
-
Profit and loss account
126,098
1,213
Shareholders' funds
4,626,098
3,001,213
For the year ending 31 January 2018 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 his 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 24 October 2018.
Mr N. C. Thompson
Director
Company Registration No. 08853712
Skillet Hill Farm Limited
Notes to the Accounts
for the year ended 31 January 2018
Skillet Hill Farm Limited is a private company, limited by shares, registered in England and Wales, registration number 08853712. The registered office is 103 High Street, Waltham Cross, Hertfordshire, EN8 7AN.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 represents rents receivable.
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:
Plant & machinery
10% Straight Line
Motor vehicles
20% Straight Line
Fixtures & fittings
10% Straight Line
Computer equipment
33 1/3% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Skillet Hill Farm Limited
Notes to the Accounts
for the year ended 31 January 2018
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At valuation
At cost
At cost
At cost
At cost
At 1 February 2017
2,000,000
291,058
390,896
818
7,989
2,690,761
Additions
-
106,901
259,223
3,503
-
369,627
Revaluations
1,500,000
-
-
-
-
1,500,000
Disposals
-
(79,799)
(86,805)
-
-
(166,604)
At 31 January 2018
3,500,000
318,160
563,314
4,321
7,989
4,393,784
At 1 February 2017
-
35,988
58,019
327
4,793
99,127
Charge for the year
-
619
68,483
433
1,672
71,207
On disposals
-
-
(14,139)
-
-
(14,139)
At 31 January 2018
-
36,607
112,363
760
6,465
156,195
At 31 January 2018
3,500,000
281,553
450,951
3,561
1,524
4,237,589
At 31 January 2017
2,000,000
255,070
332,877
491
3,196
2,591,634
Trade debtors
39,193
9,396
Other debtors
250,000
250,000
6
Creditors: amounts falling due within one year
2018
2017
Taxes and social security
16,596
(8,696)
Other creditors
543
20,543
Loans from directors
646
(77,785)
Allotted, called up and fully paid:
3,000,000 Ordinary shares of £1 each
3,000,000
3,000,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Skillet Hill Farm Limited
Notes to the Accounts
for the year ended 31 January 2018
9
Transactions with related parties
The company paid a dividend to Skillet Hill Farm (Holdings) Ltd during the year of £121,000 (2017: 75,000).
Mr N. C. Thompson is also a director of Skillet Hill Farm (Holdings) Ltd and owns 100% of the company's share capital.
The company is controlled by Skillet Hill Farm (Holdings) Ltd who own 100% of the company's share capital.
11
Average number of employees
During the year the average number of employees was 4 (2017: 3).