Coates & Parker Limited - Period Ending 2014-12-31

Registration number: 1147017

Coates & Parker Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Hugh Davies & Co
35 Chequers Court
Brown Street
Salisbury
Wiltshire
SP1 2AS

Coates & Parker Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Coates & Parker Limited
(Registration number: 1147017)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			334,308			332,849
Investments		2			712,009			685,869
					1,046,317			1,018,718
Current assets
Stocks					204,252			196,200
Debtors					36,728			32,054
Cash at bank and in hand					48,058			58,738
					289,038			286,992
Creditors: Amounts falling due within one year					(18,856)			(21,630)
Net current assets					270,182			265,362
Net assets					1,316,499			1,284,080
Capital and reserves
Called up share capital		3			2,000			2,000
Share premium account					11,142			11,142
Revaluation reserve					298,832			272,692
Profit and loss account					1,004,525			998,246
Shareholders' funds					1,316,499			1,284,080

For the year ending 31 December 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 5 May 2015 and signed on its behalf by:

.........................................
R C Shorto
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Coates & Parker Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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.

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
Plant and machinery	15% reducing balance & 25% straight line
Fixtures and fittings	20% straight line

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock 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.

Page 2

Coates & Parker Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 January 2014		521,260			685,869			1,207,129
Revaluations		-			26,140			26,140
Additions		6,181			-			6,181
Disposals		(5,300)			-			(5,300)
At 31 December 2014		522,141			712,009			1,234,150
Depreciation
At 1 January 2014		188,411			-			188,411
Charge for the year		4,722			-			4,722
Eliminated on disposals		(5,300)			-			(5,300)
At 31 December 2014		187,833			-			187,833
Net book value
At 31 December 2014		334,308			712,009			1,046,317
At 31 December 2013		332,849			685,869			1,018,718

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		2,000			2,000			2,000			2,000

Page 3