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REGISTERED NUMBER: 00672544 (England and Wales)















POTATO SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2018






POTATO SUPPLIES LIMITED (REGISTERED NUMBER: 00672544)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


POTATO SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







Directors: H W M Houlbrook
Mrs A J Houlbrook





Registered office: St Andrews House
Yale Business Village
Ellice Way
Wrexham
Wrexham CB
LL13 7YL





Registered number: 00672544 (England and Wales)





Accountants: John Davies and Co
St Andrews House
Yale Business Village
Ellice Way
Wrexham
Wrexham CB
LL13 7YL

POTATO SUPPLIES LIMITED (REGISTERED NUMBER: 00672544)

BALANCE SHEET
31 MARCH 2018

2018 2017
Notes £    £    £    £   
Fixed assets
Tangible assets 4 2,101,538 2,285,689

Current assets
Debtors 5 45,040 47,302
Cash at bank and in hand 31,429 111,544
76,469 158,846
Creditors
Amounts falling due within one year 6 313,112 378,701
Net current liabilities (236,643 ) (219,855 )
Total assets less current liabilities 1,864,895 2,065,834

Creditors
Amounts falling due after more than
one year

7

(683,143

)

(768,665

)

Provisions for liabilities (145,730 ) (188,865 )
Net assets 1,036,022 1,108,304

Capital and reserves
Called up share capital 100 100
Non distributable profit 593,102 769,415
Retained earnings 442,820 338,789
Shareholders' funds 1,036,022 1,108,304

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

POTATO SUPPLIES LIMITED (REGISTERED NUMBER: 00672544)

BALANCE SHEET - continued
31 MARCH 2018


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 29 August 2018 and were signed on
its behalf by:





H W M Houlbrook - Director


POTATO SUPPLIES LIMITED (REGISTERED NUMBER: 00672544)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018


1. Statutory information

Potato Supplies 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net sales of services, excluding value added tax. Income is recognised on
completion of service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

POTATO SUPPLIES LIMITED (REGISTERED NUMBER: 00672544)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


3. Employees and directors

The average number of employees during the year was 2 (2017 - 2 ) .

4. Tangible fixed assets
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Cost or valuation
At 1 April 2017 2,087,670 209,259 32,586 2,329,515
Additions - 43,575 - 43,575
Revaluations (217,670 ) - - (217,670 )
At 31 March 2018 1,870,000 252,834 32,586 2,155,420
Depreciation
At 1 April 2017 - 20,272 23,554 43,826
Charge for year - 7,798 2,258 10,056
At 31 March 2018 - 28,070 25,812 53,882
Net book value
At 31 March 2018 1,870,000 224,764 6,774 2,101,538
At 31 March 2017 2,087,670 188,987 9,032 2,285,689

If freehold property had not been revalued, it would of been included at the following historical
cost:

2018 2017
£ £

Cost 1,157,933 1,157,933

Freehold property was valued on an open market basis in February 2018 by Jones Peckover
Chartered Surveyors.


5. Debtors: amounts falling due within one year
2018 2017
£    £   
Trade debtors 22,016 32,395
Other debtors 23,024 14,907
45,040 47,302

POTATO SUPPLIES LIMITED (REGISTERED NUMBER: 00672544)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


6. Creditors: amounts falling due within one year
2018 2017
£    £   
Bank loans and overdrafts 82,000 78,000
Trade creditors 65,025 148,430
Taxation and social security 47,398 20,750
Other creditors 118,689 131,521
313,112 378,701

7. Creditors: amounts falling due after more than one year
2018 2017
£    £   
Bank loans 683,143 768,665

Amounts falling due in more than five years:

Repayable by instalments
Long term loans 345,143 446,665

8. Related party disclosures

The company operates a directors loan account. The balances on this account at 31st March 2018
and 31st March 2017 being £92,606 and £109,913 in hand respectively. No interest is being charged
on the loan and the balance is repayable on demand.