Accounts








	Unaudited Abbreviated Accounts
	Dishley Farming Limited



	For the year ended 30 April 2016





































		Company Number 06560311

	Dishley Farming Limited
	Unaudited abbreviated accounts for the year ended 30 April 2016

	Company Information



	Company registration number:	06560311


	Registered office:	Churchgate House
		4 Spitfire Close
		Ermine Business Park
		HUNTINGDON
		PE29 6XY


	Directors:	A G Gilby
		Mrs J V Gilby


	Bankers:	HSBC Bank plc


	Accountants:	Churchgate Accountants Limited
		Churchgate House
		4 Spitfire Close
		Ermine Business Park
		HUNTINGDON
		PE29 6XY


	Dishley Farming Limited
	Unaudited abbreviated accounts for the year ended 30 April 2016

	Index


		PAGE


	Accountants' report	1


	Principal accounting policies	2-3


	Unaudited abbreviated balance sheet	4-5


	Notes to the unaudited abbreviated accounts	6






	Accountants' report to the board of directors on the unaudited abbreviated accounts of Dishley Farming Limited

	In accordance with the engagement letter dated 3 September 2012 and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of the company for the year ended 30 April 2016 which comprise the abbreviated balance sheet, principal accounting policies and the related notes from the company's accounting records and from information and explanations you have given to us.

	This report is made to the Board of Directors of Dishley Farming Limited, as a body, in accordance with the terms of our engagement letter dated 3 September 2012. Our work has been undertaken solely to prepare for your approval the abbreviated accounts of Dishley Farming Limited and state those matters that we have agreed to state to the Board of Directors of Dishley Farming Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants in England and Wales, as detailed at www.icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dishley Farming Limited and its Board of Directors as a body for our work or for this report.

	It is your duty to ensure that Dishley Farming Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view. You consider that Dishley Farming Limited is exempt from the statutory audit requirement for the year ended 30 April 2016.

	We have not been instructed to carry out an audit or a review of the abbreviated accounts of Dishley Farming 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 abbreviated accounts.





	Churchgate Accountants Limited
	Huntingdon

	Date: 31 January 2017


	Page 1


	Dishley Farming Limited
	Unaudited abbreviated accounts for the year ended 30 April 2016

	Accounting policies

	Basis of accounting

	The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	The principal accounting policies of the company have remained unchanged from the previous year and are set out below.

	Turnover

	Turnover is the total amount receivable by the company for hire charges for company assets.

	Tangible fixed assets and depreciation

	Depreciation is calculated to write down the cost of all tangible fixed assets by the reducing balance method over their expected useful lives. The rates generally applicable are:-

	Plant and machinery	20% Reducing balance
	Tractors	15/20% Reducing balance
	Combines	15% Reducing balance
	Motors	25% Reducing balance

	Leased assets

	Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of finance lease and hire purchase payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the agreement.

	All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the term of the lease.


	Page 2


	Dishley Farming Limited
	Unaudited abbreviated accounts for the year ended 30 April 2016

	Accounting policies (continued)

	Financial instruments

	Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the entity after deducting all of the financial liabilities.

	Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

	Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited directly to equity.


	Page 3


Dishley Farming Limited - Company Number 06560311
Unaudited abbreviated accounts for the year ended 30 April 2016

Unaudited abbreviated balance sheet


	Note		2016		2015
		£	£	£	£
Fixed assets
Tangible assets	1		780,692		691,813

Current assets
Debtors		104,723		132,510
Cash at bank and in hand		20,570		14,876
		125,293		147,386

Creditors: amounts falling due within one year		539,683		566,043
Net current liabilities			(414,390)		(418,657)
Total assets less current liabilities			366,302		273,156

Creditors: amounts falling due after more than one year			416,581		228,155

Provisions for liabilities			86,372		107,178
Net assets			(136,651)		(62,177)

Capital and reserves
Called up equity share capital			3		3
Profit and loss account			(136,654)		(62,180)
Shareholders' funds			(136,651)		(62,177)

	The directors are satisfied that for the year ending 30 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies, and that the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.

	The directors acknowledge their responsibilities for: i) ensuring that the company keeps proper accounting records which comply with section 386 of the Act, and ii) preparing abbreviated accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to abbreviated accounts, so far as applicable to the company.

	The accompanying accounting policies and notes form an integral part of these abbreviated accounts.

	Page 4


	Dishley Farming Limited - Company Number 06560311
	Unaudited abbreviated accounts for the year ended 30 April 2016

	Unaudited abbreviated balance sheet (continued)

	These abbreviated accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

	The abbreviated accounts were approved by the directors and authorised for issue on 31 January 2017, and are signed on their behalf by:



	A G Gilby, Director

	The accompanying accounting policies and notes form an integral part of these abbreviated accounts.

	Page 5


	Dishley Farming Limited
	Unaudited abbreviated accounts for the year ended 30 April 2016

	Notes to the unaudited abbreviated accounts

1	Fixed assets

		Tangible
		assets
		£

	Cost
	At 1 May 2015	1,023,616
	Additions	400,511
	Disposals	(210,000)
	At 30 April 2016	1,214,127
	Depreciation and amortisation
	At 1 May 2015	331,803
	Provided in the year	159,907
	Eliminated on disposal	(58,275)
	At 30 April 2016	433,435

	Net book amount at 30 April 2016	780,692
	Net book amount at 30 April 2015	691,813

	Included within the net book value of £691,813 is £404,168 (2014: £299,538) relating to assets held under finance leases and hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £88,968 (2014: £71,506).

2	Share capital
		2016	2015
		£	£
	Allotted, called up and fully paid
	3 ordinary shares of £1 each	3	3

3	Transactions with related parties

	The directors of the company are also partners in A G Gilby & Partners. Included in turnover is £Nil (2015: £Nil) from hiring machinery to the partnership. Included in turnover is £80,000 (2015: £80,000) in respect of contracting services rendered.

	At 30 April 2016 the company owed the partnership £379,820 (2015: £411,326).

	Page 6


	Dishley Farming Limited
	Unaudited abbreviated accounts for the year ended 30 April 2016

	Notes to the unaudited abbreviated accounts (continued)

4	Controlling related parties

	The directors are the company's controlling related parties by virtue of their directorship and shareholdings in the company.

	Page 7