Francis H. Newman (Shipyards) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 00536854 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2014

for

Francis H. Newman (Shipyards) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

Mrs F F Gunnion

Mrs S F Bartlett

Mr N R Newman

SECRETARY:

Mrs F F Gunnion

REGISTERED OFFICE:

Swan Island

1 Strawberry Vale

Twickenham

Middlesex

TW1 4RY

REGISTERED NUMBER:

00536854 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

10 Landport Terrace

Portsmouth

Hampshire

PO1 2RG

FIXED ASSETS

Intangible assets

2

722

1,445

Tangible assets

3

274,390

276,018

Investment property

4

16,750

16,750

291,862

294,213

CURRENT ASSETS

Stocks

1,250

1,250

Debtors

39,367

60,554

Investments

644,663

719,352

Cash at bank and in hand

1,649,892

1,605,125

2,335,172

2,386,281

CREDITORS

Amounts falling due within one year

220,680

195,442

NET CURRENT ASSETS

2,114,492

2,190,839

TOTAL ASSETS LESS CURRENT LIABILITIES

2,406,354

2,485,052

CAPITAL AND RESERVES

Called up share capital

5

1,800

1,800

Other reserves

145,488

145,488

Profit and loss account

2,259,066

2,337,764

SHAREHOLDERS' FUNDS

2,406,354

2,485,052

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 29 September 2015 and were signed on its behalf by:

Mrs F F Gunnion - Director

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 amount derived from ordinary activities, and stated after trade discounts, other sales

taxes and net of value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1996, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on cost and 15% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

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.

Group accounts

The financial statements present information for the company as an individual undertaking and not for the group.

The company and its subsidiary undertakings comprise a small group.The company has therefore taken

advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either 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.

Pension costs and other post-retirement benefits

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

14,459

AMORTISATION

At 1 January 2014

13,014

Amortisation for year

723

At 31 December 2014

13,737

NET BOOK VALUE

At 31 December 2014

722

At 31 December 2013

1,445

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

325,764

DEPRECIATION

At 1 January 2014

49,746

Charge for year

1,628

At 31 December 2014

51,374

NET BOOK VALUE

At 31 December 2014

274,390

At 31 December 2013

276,018

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2014

and 31 December 2014

16,750

NET BOOK VALUE

At 31 December 2014

16,750

At 31 December 2013

16,750

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,800

Ordinary

£1

1,800

1,800

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Francis H. Newman (Shipyards) Limited for the year ended 31 December 2014 which comprise

the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Francis H. Newman (Shipyards) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Francis H. Newman (Shipyards) Limited and state those matters that we have agreed to state to the Board of Directors of Francis H. Newman (Shipyards) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Francis H. Newman (Shipyards) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Francis H. Newman (Shipyards) Limited. You consider that Francis H. Newman (Shipyards) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Francis H. Newman

(Shipyards) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or

information and explanations you have given to us and we do not, therefore, express any opinion on the statutory

financial statements.

Rothman Pantall LLP

10 Landport Terrace

Portsmouth

Hampshire

PO1 2RG

30 September 2015