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Registration number: 06748903

A & JM Bunting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

A & JM Bunting Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

A & JM Bunting Limited

Company Information

Directors

Mrs J M Bunting

Mr A Bunting

Registered office

The Old Vicarage
51 St. John Street
Ashbourne
Derbyshire
DE6 1GP

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

A & JM Bunting Limited

(Registration number: 06748903)
Balance Sheet as at 31 March 2018

Note

2018
£

(As restated)

2017
£

Fixed assets

 

Tangible assets

4

118,070

126,467

Current assets

 

Stocks

208,520

204,211

Debtors

5

66,632

40,702

Cash at bank and in hand

 

40,211

73,000

 

315,363

317,913

Creditors: Amounts falling due within one year

6

(43,785)

(51,415)

Net current assets

 

271,578

266,498

Total assets less current liabilities

 

389,648

392,965

Provisions for liabilities

(19,949)

(22,522)

Net assets

 

369,699

370,443

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

369,599

370,343

 

369,699

370,443

Total equity

 

369,699

370,443

For the financial year ending 31 March 2018 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.

 

A & JM Bunting Limited

(Registration number: 06748903)
Balance Sheet as at 31 March 2018

Approved and authorised by the Board on 7 September 2018 and signed on its behalf by:
 

.........................................
Mr A Bunting
Director

   
     
 

A & JM Bunting Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital incorporated in United Kingdom registration number: 06748903.

The address of its registered office is:
The Old Vicarage
51 St. John Street
Ashbourne
Derbyshire
DE6 1GP
England

The principal place of business is:
Melbourne Farm
Monyash Road
Bakewell
Derbyshire
DE45 1QW

These financial statements were authorised for issue by the Board on 7 September 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

A & JM Bunting Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Asset class

Depreciation method and rate

Buildings

5% straight line basis

Plant and machinery

15% reducing balance

Computer equipment

33% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Biological assets, living plants and animals are included at the lower of cost and estimated selling price less costs to sell. Cost is determined on a first in first out basis, net realisable value is based on estimated selling price, less any costs which may arise on realisation. Purchased livestock is valued at cost of purchase plus costs of rearing to the valuation date or to maturity, if earlier. Livestock which is homebred, farm reared or acquired some time before maturity and matured on the farm is valued at deemed cost at the following rates: cattle and sheep 60% and 75% of open market value, herds and flocks on herd basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2017 - 4).

 

A & JM Bunting Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2017

17,773

904

217,696

236,373

Additions

-

-

10,689

10,689

Disposals

-

-

(1,104)

(1,104)

At 31 March 2018

17,773

904

227,281

245,958

Depreciation

At 1 April 2017

3,851

725

105,331

109,907

Charge for the year

889

133

17,707

18,729

Eliminated on disposal

-

-

(748)

(748)

At 31 March 2018

4,740

858

122,290

127,888

Carrying amount

At 31 March 2018

13,033

46

104,991

118,070

At 31 March 2017

13,922

179

112,366

126,467

5

Debtors

2018
£

2017
£

Trade debtors

30,900

30,139

Prepayments

3,410

3,736

Other debtors

32,322

6,827

66,632

40,702

 

A & JM Bunting Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

6

Creditors

Creditors: amounts falling due within one year

2018
£

2017
£

Due within one year

Trade creditors

6,151

23,026

Taxation and social security

31,242

22,589

Accruals and deferred income

4,525

3,370

Other creditors

1,867

2,430

43,785

51,415

7

Related party transactions

Other transactions with directors

Advances and repayments to the directors, during the course of the year, totalled £164,842 and £137,950 respectively.
There are no formal terms of repayment and interest has been charged on overdrawn balances at the official rate.

8

Prior period adjustment

The dairy herd brought forward from the accounts to 31 March 2016 have been amended to show the asset at fair value. Therefore the herd value has decreased by £108,510, as has the brought forward Profit and loss reserve account.