| Directors | |
| Registered office | |
| Registered number | 11727684 |
| Accountant | H & M Ltd |
| The Four Columns | |
| Broughton Hall Business Park | |
| Skipton | |
| BD23 3AE |
| Notes |
|
| |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
| ||||||||
| |||||||||||
|
4 | ||||||||||
|
5 | ||||||||||
| |||||||||||
|
|||||||||||
|
6 | ||||||||||
|
|||||||||||
| |||||||||||
|
7 |
|
|
||||||||
|
|
||||||||||
|
|
| |||||||||
|
|||||||||||
| |||||||||||
|
8 |
|
| ||||||||
|
| ||||||||||
|
|
| |||||||||
|
|||||||||||
| |||||||||||
|
|||||||||||
|
|||||||||||
|
The financial statements were approved and authorised for issue by the Board of Directors on
Lancaster, Sally
Director |
Company registration number 11727684
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The financial statements are presented in sterling and this is the functional currency of the company.
The financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
The financial statements have been prepared under the historical cost convention in accordance with the Companies Act 2006.
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Income Statement.
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful like of that asset as follows:
Dairy Herd No amortisation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
|
| ||||
|---|---|---|---|---|---|
| |||||
|
|||||
|
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.
Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.
|
| ||||
|---|---|---|---|---|---|
|
| ||||
|
|||||
|
| ||||
|
| ||||
|
|||||
|
| ||||
|
|||||
|
| ||||
|
|
|
|
| |||||
|---|---|---|---|---|---|---|---|
|
|
| |||||
|
|||||||
|
| ||||||
|
| ||||||
|
| ||||||
|
|||||||
|
| ||||||
|
| ||||||
|
| ||||||
|
|||||||
|
|||||||
|
|
| ||||
|---|---|---|---|---|---|
|
| ||||
|
|||||
|
|||||
|
|||||
|
|||||
|
|
| ||||
|---|---|---|---|---|---|
|
| ||||
|
|||||
|
|||||
|
|||||
|
|||||
|
|||||
|
|
| ||||
|---|---|---|---|---|---|
|
| ||||
|
|||||
|
|||||
|