REGISTERED NUMBER: 04075339 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

A & E Clarkson Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Clarkson

Mrs EM Clarkson

SECRETARY:

Mrs EM Clarkson

REGISTERED OFFICE:

Cock Hall Farm

Thurnham

Lancaster

Lancashire

LA2 0DT

REGISTERED NUMBER:

04075339 (England and Wales)

ACCOUNTANTS:

Towers + Gornall Ltd

Chartered Certified Accountants

Abacus House

The Ropewalk

Garstang

Preston

Lancashire

PR3 1NS

FIXED ASSETS

Tangible assets

4

530,140

539,217

CURRENT ASSETS

Stocks

274,700

250,900

Debtors

5

30,721

14,365

Cash at bank

563

22,145

305,984

287,410

CREDITORS

Amounts falling due within one year

6

141,854

115,210

NET CURRENT ASSETS

164,130

172,200

TOTAL ASSETS LESS CURRENT LIABILITIES

694,270

711,417

CREDITORS

Amounts falling due after more than one year

7

(193,387

)

(205,665

)

PROVISIONS FOR LIABILITIES

(10,685

)

(12,212

)

NET ASSETS

490,198

493,540

CAPITAL AND RESERVES

Called up share capital

384,327

384,327

Retained earnings

8

105,871

109,213

SHAREHOLDERS' FUNDS

490,198

493,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 March 2019 and were signed on its behalf by:

Mrs EM Clarkson - Director

1.	STATUTORY INFORMATION

A & E Clarkson Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for the sale of livestock and work done net of VAT and any trade discounts.

Income is recognised at point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Tractors

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements

entered into. An equity instrument is an contract that evidences a residual interest in the assets of the entity after

deducting all of its financial liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

Tractors

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2018

518,395

97,578

58,162

5,325

679,460

Additions

6,834

2,565

-

3,000

12,399

Disposals

-

(3,600

)

-

(5,325

)

(8,925

)

At 31 December 2018

525,229

96,543

58,162

3,000

682,934

DEPRECIATION

At 1 January 2018

47,265

62,974

26,860

3,144

140,243

Charge for year

7,617

5,435

4,696

600

18,348

Eliminated on disposal

-

(2,653

)

-

(3,144

)

(5,797

)

At 31 December 2018

54,882

65,756

31,556

600

152,794

NET BOOK VALUE

At 31 December 2018

470,347

30,787

26,606

2,400

530,140

At 31 December 2017

471,130

34,604

31,302

2,181

539,217

Included in cost of land and buildings is freehold land of £ 450,063 (2017 - £ 450,063 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

6,068

5,463

Other debtors

-

4,000

Tax

-

3,943

Prepayments

24,653

959

30,721

14,365

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

20,388

20,388

Trade creditors

15,627

6,083

Corporation tax

2,114

-

VAT

7,149

1,997

Other creditors

1,978

1,836

Directors' current accounts

93,598

84,186

Accrued expenses

1,000

720

141,854

115,210

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

193,387

205,665

8.

RESERVES

Retained

earnings

£

At 1 January 2018

109,213

Profit for the year

6,658

Dividends

(10,000

)

At 31 December 2018

105,871

9.	RELATED PARTY DISCLOSURES

As at 31 December 2018 the company owed the directors £93,598 to the directors (2017: £84,186) : No interest has

been charged to the company in respect of this loan which is repayable on demand and classified in creditors due

within one year.