REGISTERED NUMBER: |
A & D Rossall Limited |
Unaudited Financial Statements for the Year Ended 31 March 2017 |
REGISTERED NUMBER: |
A & D Rossall Limited |
Unaudited Financial Statements for the Year Ended 31 March 2017 |
A & D Rossall Limited (Registered number: 04701839) |
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
A & D Rossall Limited |
Company Information |
for the Year Ended 31 March 2017 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Summerdale |
Head Dyke Lane |
Pilling |
Preston |
Lancashire |
PR3 6SJ |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
A & D Rossall Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of A & D Rossall Limited for the year ended 31 March 2017 which comprise the Profit and Loss |
Account, Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of A & D Rossall Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A & D Rossall Limited and state those matters that we have agreed to state to the Board of Directors of A & D Rossall Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & D Rossall Limited Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that A & D Rossall Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A & D Rossall Limited. You consider that A & D Rossall Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of A & D Rossall 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 statutory financial statements. |
Summerdale |
Head Dyke Lane |
Pilling |
Preston |
Lancashire |
PR3 6SJ |
A & D Rossall Limited (Registered number: 04701839) |
Balance Sheet |
31 March 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Herd basis | 6 | 11,600 | 11,925 |
Current assets |
Stocks |
Debtors | 7 |
Investments | 8 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 9 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings |
Shareholders' funds |
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. |
A & D Rossall Limited (Registered number: 04701839) |
Balance Sheet - continued |
31 March 2017 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
A & D Rossall Limited (Registered number: 04701839) |
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
1. | Statutory information |
A & D Rossall Limited is a |
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 |
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 31 March 2017 are the first that are prepared in accordance with |
FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of |
transition to FRS 102 Section 1A is 1 April 2015. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Milk quota |
Milk quota is valued at cost less provision for diminution in value. No depreciation is provided for on milk |
quota. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Livestock is valued at the lower of cost and net realisable value. Where appropriate cost is arrived at on the |
following rates as a percentage of the market value of home bred stock or the purchase of immature stock. |
Cattle 60% |
Sheep 75% |
Other stock is valued at the lower of cost and net realisable value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
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. |
A & D Rossall Limited (Registered number: 04701839) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
2. | Accounting policies - continued |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Breeding assets |
Breeding assets are dealt with on the herd basis of valuation. Transfers in to the herd are calculated at cost or a |
percentage of market value (in accordance with stock below) whichever is applicable. Transfers out of herd are |
dealt with on a first in first out basis. Replacement of temporary reductions in the herd are calculated at the value |
of original cost replaced. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Milk |
quota |
£ |
Cost |
At 1 April 2016 |
and 31 March 2017 |
Amortisation |
At 1 April 2016 |
and 31 March 2017 |
Net book value |
At 31 March 2017 |
At 31 March 2016 |
A & D Rossall Limited (Registered number: 04701839) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
5. | Tangible fixed assets |
Fixtures |
Short | Plant and | and | Motor |
leasehold | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 April 2016 |
Additions |
At 31 March 2017 |
Depreciation |
At 1 April 2016 |
Charge for year |
At 31 March 2017 |
Net book value |
At 31 March 2017 |
At 31 March 2016 |
6. | Herd basis |
Dairy |
herd |
basis |
£ |
Cost |
At 1 April 2016 | 11,925 |
Transfer out | (325 | ) |
At 31 March 2017 | 11,600 |
Net book value |
At 31 March 2017 | 11,600 |
At 31 March 2016 | 11,925 |
7. | Debtors: amounts falling due within one year |
2017 | 2016 |
£ | £ |
Trade debtors |
Other debtors |
8. | Current asset investments |
2017 | 2016 |
£ | £ |
Other |
A & D Rossall Limited (Registered number: 04701839) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
9. | Creditors: amounts falling due within one year |
2017 | 2016 |
£ | £ |
Trade creditors |
Taxation and social security | ( |
) |
Other creditors |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |