Chas H.Baker & Son (Salisbury) Limited - Period Ending 2015-01-31

Registration number: 490531

Chas H.Baker & Son (Salisbury) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2015
 

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

Chas H.Baker & Son (Salisbury) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Chas H.Baker & Son (Salisbury) Limited
(Registration number: 490531)
Abbreviated Balance Sheet at 31 January 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			387,821			573,719
Current assets
Stocks					146,758			151,157
Debtors					6,750			12,784
Cash at bank and in hand					9,473			4,538
					162,981			168,479
Creditors: Amounts falling due within one year		3			(171,882)			(172,725)
Net current liabilities					(8,901)			(4,246)
Total assets less current liabilities					378,920			569,473
Creditors: Amounts falling due after more than one year		3			(85,000)			(238,437)
Provisions for liabilities					(1,964)			(1,964)
Net assets					291,956			329,072
Capital and reserves
Called up share capital		4			5,400			5,400
Revaluation reserve					320,985			320,985
Profit and loss account					(34,429)			2,687
Shareholders' funds					291,956			329,072

For the year ending 31 January 2015 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 19 August 2015 and signed on its behalf by:

.........................................
R R F Baker
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Chas H.Baker & Son (Salisbury) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... 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
Leasehold property	Over the remaining life of the lease
Fixtures and fittings	20% straight line
Hire department items	None provided

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.

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.

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.

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Chas H.Baker & Son (Salisbury) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... 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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2014		611,032			611,032
Additions		844			844
Disposals		(185,307)			(185,307)
At 31 January 2015		426,569			426,569
Depreciation
At 1 February 2014		37,313			37,313
Charge for the year		1,435			1,435
At 31 January 2015		38,748			38,748
Net book value
At 31 January 2015		387,821			387,821
At 31 January 2014		573,719			573,719

Page 3

Chas H.Baker & Son (Salisbury) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		90,985			92,531
Amounts falling due after more than one year		-			129,361
Total secured creditors		90,985			221,892

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		5,400			5,400			5,400			5,400

Page 4