Batchelor Coop Ltd - Period Ending 2014-09-30

Registration number: 02739117

Batchelor Coop Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2014
 

Batchelor Coop Limited Chartered Accountants
The New Barn Mill Lane Eastry Sandwich Kent CT13 0JW

Batchelor Coop Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Batchelor Coop Ltd
(Registration number: 02739117)
Abbreviated Balance Sheet at 30 September 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					117,515			133,514
Tangible fixed assets					32,258			29,956
					149,773			163,470
Current assets
Stocks					54,783			43,572
Debtors					29,362			9,863
Cash at bank and in hand					189,398			219,100
					273,543			272,535
Creditors: Amounts falling due within one year					(119,721)			(119,023)
Net current assets					153,822			153,512
Total assets less current liabilities					303,595			316,982
Creditors: Amounts falling due after more than one year					(106,589)			(120,489)
Provisions for liabilities					(4,010)			(3,497)
Net assets					192,996			192,996
Capital and reserves
Called up share capital		3			203			203
Profit and loss account					192,793			192,793
Shareholders' funds					192,996			192,996

For the year ending 30 September 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 15 January 2015 and signed on its behalf by:

.........................................
RC Coop
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Batchelor Coop Ltd
(Registration number: 02739117)
Abbreviated Balance Sheet at 30 September 2014......... continued

.........................................
MA Batchelor
Director

.........................................
MJ Sole
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Batchelor Coop Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised when goods are supplied, irrespective of the date the goods were invoiced.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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
Goodwill	5% straight line over 20 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% on written down value
Leasehold buildings	Over lease term
Fixtures and fittings	15% on written down value
Computer equipment	25% straight line over 4 years

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

Batchelor Coop Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2013		295,500			97,630			393,130
Additions		-			19,651			19,651
Disposals		-			(35,850)			(35,850)
At 30 September 2014		295,500			81,431			376,931
Depreciation
At 1 October 2013		161,986			67,674			229,660
Charge for the year		15,999			9,075			25,074
Eliminated on disposals		-			(27,576)			(27,576)
At 30 September 2014		177,985			49,173			227,158
Net book value
At 30 September 2014		117,515			32,258			149,773
At 30 September 2013		133,514			29,956			163,470

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
100 Ordinary A shares of £1 each		100			100			100			100
100 Ordinary B Non-Voting shares of £1 each		100			100			100			100
1 Ordinary C Non-Voting share of £1 each		1			1			1			1
1 Ordinary D Non-Voting share of £1 each		1			1			1			1
1 Ordinary E Non-Voting share of £1 each		1			1			1			1
		203			203			203			203

Page 4

Batchelor Coop Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014......... continued

4	Related party transactions

Dividends

During the year the company voted dividends as shown below: £85,713 (2013 - £93,283) to Mr RC Coop £84,459 (2013 - £93,037) to Mr MA Batchelor £63,020 (2013 - £70,560) to Mr MJ Sole

Other related party transactions

During the year the company made the following related party transactions:

RC Coop
(Director's loan account)
At the balance sheet date the amount due to RC Coop was £48,406 (2013 - £42,795).

MA Batchelor
(Director's loan account)
At the balance sheet date the amount due to MA Batchelor was £40,643 (2013 - £52,537).

MJ Sole
(Director's loan account)
At the balance sheet date the amount due to MJ Sole was £17,540 (2013 - £24,847).

Batchelor Coop Limited rents property from Mr & Mrs R Coop (a director-shareholder of the company respectively). During the year the company paid rent totalling £15,000 (2013 - £15,000).

Page 5