DAVID_H_MYERS_(CHURCHTOWN - Accounts

DAVID_H_MYERS_(CHURCHTOWN - Accounts

DAVID H MYERS (CHURCHTOWN) LIMITED - Company Information

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Company Registration No. 05739139 (England and Wales)
DAVID H MYERS (CHURCHTOWN) LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
DAVID H MYERS (CHURCHTOWN) LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
DAVID H MYERS (CHURCHTOWN) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DAVID H MYERS (CHURCHTOWN) LIMITED FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of David H Myers (Churchtown) Limited for the year ended 31 March 2015 set out on pages 2 to 5 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of David H Myers (Churchtown) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of David H Myers (Churchtown) Limited and state those matters that we have agreed to state to the Board of Directors of David H Myers (Churchtown) 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 David H Myers (Churchtown) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that David H Myers (Churchtown) 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 David H Myers (Churchtown) Limited. You consider that David H Myers (Churchtown) 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 David H Myers (Churchtown) 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.
Moore and Smalley LLP
Chartered Accountants
Richard House
9 Winckley Square
Preston
PR1 3HP
12 November 2015
DAVID H MYERS (CHURCHTOWN) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
66,000
72,000
Tangible assets
2
39,269
39,608
105,269
111,608
Current assets
Stocks
36,251
43,032
Debtors
67,042
94,504
Cash at bank and in hand
11,208
1,945
114,501
139,481
Creditors: amounts falling due within one year
3
(47,559)
(39,534)
Net current assets
66,942
99,947
Total assets less current liabilities
172,211
211,555
Creditors: amounts falling due after more than one year
4
-
(200)
Provisions for liabilities
(5,971)
(5,625)
166,240
205,730
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
166,140
205,630
Shareholders'  funds
166,240
205,730
DAVID H MYERS (CHURCHTOWN) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 3 -
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 11 November 2015
Mr D Myers
Director
Company Registration No. 05739139
DAVID H MYERS (CHURCHTOWN) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
1
Accounting policies
1.1
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).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Income is recognised upon collection of the product by the client or upon delivery of the service, such as a sight test.

1.4
Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

1.5
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:
Equipment
15% on written down value.
Fixtures & Fittings
15% on written down value.
1.6
Leasing and hire purchase commitments

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

1.7
Stock

Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

1.8
Pensions

The company operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company. Contributions payable are charged to the profit and loss account in the year they are payable.

1.9
Deferred taxation
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.
1.10
Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

DAVID H MYERS (CHURCHTOWN) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
1
Accounting policies
(Continued)
- 5 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
120,000
93,251
213,251
Additions
-
6,044
6,044
At 31 March 2015
120,000
99,295
219,295
Depreciation
At 1 April 2014
48,000
53,643
101,643
Charge for the year
6,000
6,383
12,383
At 31 March 2015
54,000
60,026
114,026
Net book value
At 31 March 2015
66,000
39,269
105,269
At 31 March 2014
72,000
39,608
111,608
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £200 (2014 - £2,396).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £200).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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