Relate AccountsProduction v2.1.19 v2.1.19 2017-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is farming. 9 August 2018 0 0 NI049172 2018-03-31 NI049172 2017-03-31 NI049172 2016-03-31 NI049172 2017-04-01 2018-03-31 NI049172 2016-04-01 2017-03-31 NI049172 uk-bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 NI049172 uk-bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 NI049172 uk-bus:FullAccounts 2017-04-01 2018-03-31 NI049172 uk-bus:Director1 2017-04-01 2018-03-31 NI049172 uk-bus:CompanySecretary1 2017-04-01 2018-03-31 NI049172 uk-bus:RegisteredOffice 2017-04-01 2018-03-31 NI049172 uk-bus:Agent1 2017-04-01 2018-03-31 NI049172 uk-core:ShareCapital 2018-03-31 NI049172 uk-core:ShareCapital 2017-03-31 NI049172 uk-core:RetainedEarningsAccumulatedLosses 2018-03-31 NI049172 uk-core:RetainedEarningsAccumulatedLosses 2017-03-31 NI049172 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2018-03-31 NI049172 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2017-03-31 NI049172 uk-bus:FRS102 2017-04-01 2018-03-31 NI049172 uk-core:LandBuildings 2017-04-01 2018-03-31 NI049172 uk-core:PlantMachinery 2017-04-01 2018-03-31 NI049172 uk-core:FurnitureFittingsToolsEquipment 2017-04-01 2018-03-31 NI049172 uk-core:MotorVehicles 2017-04-01 2018-03-31 NI049172 uk-core:CostValuation 2018-03-31 NI049172 uk-core:CurrentFinancialInstruments 2018-03-31 NI049172 uk-core:CurrentFinancialInstruments 2017-03-31 NI049172 uk-core:WithinOneYear 2018-03-31 NI049172 uk-core:WithinOneYear 2017-03-31 NI049172 uk-core:OtherMiscellaneousReserve 2017-03-31 NI049172 uk-core:OtherMiscellaneousReserve 2017-04-01 2018-03-31 NI049172 uk-core:AcceleratedTaxDepreciationDeferredTax 2018-03-31 NI049172 uk-core:TaxLossesCarry-forwardsDeferredTax 2018-03-31 NI049172 uk-core:OtherDeferredTax 2018-03-31 NI049172 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2018-03-31 NI049172 uk-core:OtherMiscellaneousReserve 2018-03-31 NI049172 2017-04-01 2018-03-31 NI049172 uk-bus:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 xbrli:pure iso4217:GBP xbrli:shares
Company Number: NI049172
 
 
Johnstown Farms Ltd
 
  Unaudited Financial Statements
 
for the year ended 31 March 2018
Johnstown Farms Ltd
DIRECTOR AND OTHER INFORMATION

 
Director Kenneth Robinson
 
 
Company Secretary Stephen Robinson
 
 
Company Number NI049172
 
 
Registered Office and Business Address Magheraveely
Enniskillen
Co Fermanagh
BT92 6GL
 
 
Accountants CavanaghKelly
Chartered Accountants
43 Dublin Road
Omagh
Co Tyrone
BT78 1HE
 
 
Bankers Ulster Bank
  186 Main Street
  Lisnaskea
  Co Fermanagh
  BT92 0JF
 
   
Solicitors Falls & Hanna
  24 East Bridge Street
  Enniskillen
  Co Fermanagh
  BT74 7BT



Johnstown Farms Ltd
Company Number: NI049172
STATEMENT OF FINANCIAL POSITION
as at 31 March 2018

2018 2017
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 267,165 62,812
Financial assets 5,000 5,000
───────── ─────────
272,165 67,812
───────── ─────────
 
Current Assets
Inventories 6 119,220 119,460
Receivables 7 7,103 5,235
Cash and cash equivalents 240,152 371,785
───────── ─────────
366,475 496,480
───────── ─────────
Payables: Amounts falling due within one year 8 (24,335) (25,017)
───────── ─────────
Net Current Assets 342,140 471,463
───────── ─────────
Total Assets less Current Liabilities 614,305 539,275
 
Provisions for liabilities 9 (11,533) (12,473)
───────── ─────────
Net Assets 602,772 526,802
═════════ ═════════
Equity
Called up share capital 2 2
Income statement 602,770 526,800
───────── ─────────
Equity attributable to owners of the company 602,772 526,802
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 9 August 2018
           
           
________________________________          
Kenneth Robinson          
Director          



Johnstown Farms Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2018

   
1. GENERAL INFORMATION
 
Johnstown Farms Ltd is a company limited by shares incorporated in Northern Ireland.
         
2. ACCOUNTING POLICIES
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company’s financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 March 2018 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared under the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.
 
Revenue
The turnover shown in the profit and loss account represents amounts received or receivable for goods and services in the normal course of business, exclusive of Value Added Tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Plant and machinery - 15% reducing balance
  Fixtures, fittings and equipment - 15% reducing balance
  Motor vehicles - 25% reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value.
 
Inventories
Home-bred and home-reared cattle is valued at 60% of the open market value.
Cattle purchased is valued at cost price.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Share capital of the company
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. EMPLOYEES
 
The average monthly number of employees, including director, during the year was as 2.
             
4. PROPERTY, PLANT AND EQUIPMENT
  Land and Plant and Fixtures, Motor Total
  buildings machinery fittings and vehicles  
  freehold   equipment    
  £ £ £ £ £
Cost
At 1 April 2017 - 257,809 448 16,583 274,840
Additions 206,469 12,010 - - 218,479
Disposals - (7,998) - - (7,998)
  ───────── ───────── ───────── ───────── ─────────
At 31 March 2018 206,469 261,821 448 16,583 485,321
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 April 2017 - 196,333 345 15,350 212,028
Charge for the year - 10,533 16 308 10,857
On disposals - (4,729) - - (4,729)
  ───────── ───────── ───────── ───────── ─────────
At 31 March 2018 - 202,137 361 15,658 218,156
  ───────── ───────── ───────── ───────── ─────────
Carrying amount
At 31 March 2018 206,469 59,684 87 925 267,165
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 March 2017 - 61,476 103 1,233 62,812
  ═════════ ═════════ ═════════ ═════════ ═════════
       
  Other Total
  investments  
     
Investments £ £
Cost
 
At 31 March 2018 5,000 5,000
  ───────── ─────────
Carrying amount
At 31 March 2018 5,000 5,000
  ═════════ ═════════
At 31 March 2017 5,000 5,000
  ═════════ ═════════
       
6. INVENTORIES 2018 2017
  £ £
 
Stock 119,220 119,460
  ═════════ ═════════
       
7. RECEIVABLES 2018 2017
  £ £
 
Other debtors 676 544
Taxation 2,520 713
Prepayments and accrued income 3,907 3,978
  ───────── ─────────
  7,103 5,235
  ═════════ ═════════
       
8. PAYABLES 2018 2017
Amounts falling due within one year £ £
 
Taxation 18,854 20,221
Director's current account 496 496
Accruals 4,985 4,300
  ───────── ─────────
  24,335 25,017
  ═════════ ═════════
 
           
9. PROVISIONS FOR LIABILITIES
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2018 2017
  £ £ £ £
 
At year start 14,453 (1,980) 12,473 14,453
Charged to profit and loss (940) - (940) (1,980)
  ───────── ───────── ───────── ─────────
At year end 13,513 (1,980) 11,533 12,473
  ═════════ ═════════ ═════════ ─────────