R & S Marton Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04862645 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2014

FOR

R & S MARTON LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

-

10,867

Tangible assets

3

247,625

227,268

247,625

238,135

CURRENT ASSETS

Stocks

171,215

172,804

Debtors

27,263

103,629

Investments

4,514

3,641

Cash at bank

289

205

203,281

280,279

CREDITORS

Amounts falling due within one year

184,344

255,686

NET CURRENT ASSETS

18,937

24,593

TOTAL ASSETS LESS CURRENT LIABILITIES

266,562

262,728

PROVISIONS FOR LIABILITIES

13,029

18,630

NET ASSETS

253,533

244,098

CAPITAL AND RESERVES

Called up share capital

4

110

100

Profit and loss account

253,423

243,998

SHAREHOLDERS' FUNDS

253,533

244,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 10 June 2015 and were signed by:

Mr S R Marton - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as

a small company.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10

years.This length of time is presumed to be the maximum useful life of goodwill because it is difficult to

make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full

financial year following each acquisition and subsequently as and when necessary if circumstances

emerge that indicate that the carrying value may not be recoverable.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to

write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Property improvements

10% straight line

Plant and machinery

20% reducing balance

Fixtures, fittings and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Other assets

25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the

treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been

discounted.

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the

lease term.

Revenue recognition

Revenue is recognised as earned when, and to the extent that, the company obtains the right to

consideration in exchange for the supply of the goods and services that it provides. It is measured at the

fair value of the right to consideration, which represents amounts chargeable to customers but excludes

value added tax.

Government grants

Government grants are recognised in the profit and loss account of the period in respect of which the

grant is received.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

135,866

AMORTISATION

At 1 November 2013

124,999

Amortisation for year

10,867

At 31 October 2014

135,866

NET BOOK VALUE

At 31 October 2014

-

At 31 October 2013

10,867

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

405,296

Additions

73,705

Disposals

(1,169

)

At 31 October 2014

477,832

DEPRECIATION

At 1 November 2013

178,028

Charge for year

52,869

Eliminated on disposal

(690

)

At 31 October 2014

230,207

NET BOOK VALUE

At 31 October 2014

247,625

At 31 October 2013

227,268

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal Value:

£

100

Ordinary

£1

100

7

B Ordinary

£1

7

3

C Ordinary

£1

3

110

The following shares were issued during the period for cash at par:

7 B Ordinary shares of £1

3 C Ordinary shares of £1

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2014 and

31 October 2013:

2014

2013

£

£

Mr S R Marton

Balance outstanding at start of year

31,732

65,898

Amounts advanced

44,619

59,599

Amounts repaid

(77,161

)

(93,765

)

Balance outstanding at end of year

(810

)

31,732

An overdrawn director's loan account incurs interest at the official rate of 4% to 5 April 2014 and 3.25%

thereafter. A director's loan account in credit is interest free. The loan is unsecured with no fixed terms of

repayment.

The maximum overdrawn loan balance during the period was £41,194 (2013: £65,898).

Included in other creditors is an amount of £810 (2013: £31,732 due from) due to Mr S R Marton in respect of

his director's loan account.