W Southerington & Sons Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01271128 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

W SOUTHERINGTON & SONS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr J Southerington

Mrs P A Southerington

SECRETARY:

Mrs P A Southerington

REGISTERED OFFICE:

Lakeside

Leicester Road

Melton Mowbray

Leicestershire

LE13 0DA

REGISTERED NUMBER:

01271128 (England and Wales)

ACCOUNTANTS:

Osbornes Tax And Advisory Limited

Harwood House

Park Road

Melton Mowbray

Leicestershire

LE13 1TX

FIXED ASSETS

Tangible assets

2

207,661

223,564

CURRENT ASSETS

Stocks

25,143

20,714

Debtors

71,014

44,448

Cash at bank and in hand

9,239

177

105,396

65,339

CREDITORS

Amounts falling due within one year

79,614

102,620

NET CURRENT ASSETS/(LIABILITIES)

25,782

(37,281

)

TOTAL ASSETS LESS CURRENT LIABILITIES

233,443

186,283

CREDITORS

Amounts falling due after more than one year

10,832

39,178

NET ASSETS

222,611

147,105

CAPITAL AND RESERVES

Called up share capital

3

29,000

29,000

Profit and loss account

193,611

118,105

SHAREHOLDERS' FUNDS

222,611

147,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 May 2015 and were signed on its behalf by:

Mr J Southerington - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Portable buildings

-

10% on reducing balance

Fixtures and fittings

-

12.5% on reducing balance

Motor vehicles

-

25% on reducing balance

No depreciation has been provided for on freehold land and buildings.

These assets have and will be regularly maintained to a high standard and therefore any depreciation charge

would be immaterial. They are subject to impairment reviews at the end of each reporting period in accordance

with the requirements of FRS11.

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

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

balance sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

731,962

Additions

450

Disposals

(29,009

)

At 31 March 2015

703,403

DEPRECIATION

At 1 April 2014

508,398

Charge for year

13,681

Eliminated on disposal

(26,337

)

At 31 March 2015

495,742

NET BOOK VALUE

At 31 March 2015

207,661

At 31 March 2014

223,564

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

29,000

Ordinary

£1

29,000

29,000