Company Registration No. 06156899 (England and Wales)
A & G HARDWICK LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
A & G HARDWICK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
A & G HARDWICK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,198,933
1,190,829
Investments
2
92,299
92,299
1,291,232
1,283,128
Current assets
Stocks
93,842
115,416
Debtors
143,259
158,751
Cash at bank and in hand
155,447
134,386
392,548
408,553
Creditors: amounts falling due within one year
(693,368)
(663,875)
Net current liabilities
(300,820)
(255,322)
Total assets less current liabilities
990,412
1,027,806
Creditors: amounts falling due after more than one year
3
(595,793)
(613,397)
Provisions for liabilities
(83,626)
(78,261)
310,993
336,148
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
310,893
336,048
Shareholders' funds
310,993
336,148
A & G HARDWICK LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 21 December 2016
Mr A R Hardwick
Director
Company Registration No. 06156899
A & G HARDWICK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). The herd is recognised on the balance sheet using the herd basis, in line with the tax treatment of Section 109 of the Corporation Tax 2009, which is a departure from the Companies Act 2006.
The herd is recognised on the balance sheet using the herd basis, in line with the tax treatment of Section 109 of the Corporation Tax 2009, which is a departure from the Companies Act 2006.
1.2
Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Revenue derived from milk sales is recognised in the period in which the milk is collected by the customer. Revenue derived from other farming activities is recognised when the goods or services have been supplied. services to customers.
Revenue derived from milk sales is recognised in the period in which the milk is collected by the
customer.
Revenue derived from other farming activities is recognised when the goods or services have been supplied.
1.3
BPS entitlement
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class Amortisation method and rate
BPS entitlements Straight line to 2014
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Nil 15% reducing balance 25% reducing balance
Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.7
Stock
Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with HM Revenue & Customs guidance HS232.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
A & G HARDWICK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 April 2015
1,608,959
92,299
1,701,258
Additions
125,886
-
125,886
Disposals
(57,700)
-
(57,700)
At 31 March 2016
1,677,145
92,299
1,769,444
Depreciation
At 1 April 2015
418,130
-
418,130
On disposals
(27,623)
-
(27,623)
Charge for the year
87,705
-
87,705
At 31 March 2016
478,212
-
478,212
Net book value
At 31 March 2016
1,198,933
92,299
1,291,232
At 31 March 2015
1,190,829
92,299
1,283,128
3
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100