Isaac Poad & Sons Ltd - Limited company - abbreviated - 11.6
Isaac Poad & Sons Ltd - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST OCTOBER 2014 |
| FOR |
| ISAAC POAD & SONS LTD |
| ISAAC POAD & SONS LTD (REGISTERED NUMBER: 00156585) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST OCTOBER 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| ISAAC POAD & SONS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST OCTOBER 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| ISAAC POAD & SONS LTD (REGISTERED NUMBER: 00156585) |
| ABBREVIATED BALANCE SHEET |
| 31ST OCTOBER 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Revaluation reserve |
| Profit and loss account | ( |
) | ( |
) |
| 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. |
| The financial statements were approved by the Board of Directors on |
| ISAAC POAD & SONS LTD (REGISTERED NUMBER: 00156585) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST OCTOBER 2014 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
| 2008). |
| Turnover |
| Turnover represents the sale value of goods delivered during the year, excluding value added tax. |
| Goodwill |
| Amortisation is calculated so as to write off the cost of assets, less their estimated residual value, over the useful |
| economic life of 20 years. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Freehold Property: The property is carried at open market value. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Deferred tax |
| Full provision is made for deferred taxation resulting from timing differences between the recognition of gains |
| and losses in the accounts and their recognition for tax purposes. |
| Deferred tax is calculated at the tax rates which are expected to apply in the period when the timing differences |
| will reverse. A deferred tax asset is only recognised when there is certainty of future revenue streams. |
| 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 the profit and loss account in the period to which they relate. |
| Revaluation |
| The directors have adopted a policy of revaluing freehold land and buildings at open market value. The surplus |
| or deficit on revaluation is transferred to a revaluation reserve except where it reduces the property below its |
| historical cost, in which case it is taken to the profit and loss account. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1st November 2013 |
| and 31st October 2014 |
| AMORTISATION |
| At 1st November 2013 |
| Amortisation for year |
| At 31st October 2014 |
| NET BOOK VALUE |
| At 31st October 2014 |
| At 31st October 2013 |
| ISAAC POAD & SONS LTD (REGISTERED NUMBER: 00156585) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31ST OCTOBER 2014 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST OR VALUATION |
| At 1st November 2013 |
| Additions |
| At 31st October 2014 |
| DEPRECIATION |
| At 1st November 2013 |
| Charge for year |
| At 31st October 2014 |
| NET BOOK VALUE |
| At 31st October 2014 |
| At 31st October 2013 |
| 4. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 5. | CREDITORS |
| Creditors include an amount of £ |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |
| 7. | ULTIMATE PARENT COMPANY |
| Members are advised that the ultimate holding company is Poad Investments Limited, a company incorporated |
| in the United Kingdom. |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year under review, director S Cockerill made transactions with the company. |
| The company made advances totalling £5,488 (2013 - £12,768) and this was offset by credits totalling £nil (2013 |
| - £111,884). |
| At the year end, the amount owed to the director was £54,938 (2013 - £60,427) and this is included within other |
| creditors. |
| This balance has no interest charged thereon. |
| There are no conditions attached to advances to the director, however, the director must ensure that this is not |
| detrimental to the company. |