Michael J Emery & Co Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06422325 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2013

for

Michael J Emery & Co Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M J Emery

SECRETARY:

Mrs J Emery

REGISTERED OFFICE:

22 St John Street

Newport Pagnell

Buckinghamshire

MK16 8HJ

REGISTERED NUMBER:

06422325 (England and Wales)

ACCOUNTANTS:

Michael J. Emery & Co Limited

Chartered Accountants

22 St John Street

Newport Pagnell

Buckinghamshire

MK16 8HJ

FIXED ASSETS

Intangible assets

2

315,000

337,500

Tangible assets

3

16,435

16,173

331,435

353,673

CURRENT ASSETS

Stocks

100

100

Debtors

280,360

294,317

280,460

294,417

CREDITORS

Amounts falling due within one year

4

203,383

213,741

NET CURRENT ASSETS

77,077

80,676

TOTAL ASSETS LESS CURRENT LIABILITIES

408,512

434,349

CREDITORS

Amounts falling due after more than one year

4

(66,504

)

(135,784

)

PROVISIONS FOR LIABILITIES

(3,235

)

(3,235

)

NET ASSETS

338,773

295,330

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

338,673

295,230

SHAREHOLDERS' FUNDS

338,773

295,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 19 September 2014 and were signed by:

M J Emery - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax, adjusted for work in progress

partially completed at selling price.

Goodwill

Goodwill is written off over a 20 year period.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

450,000

AMORTISATION

At 1 January 2013

112,500

Amortisation for year

22,500

At 31 December 2013

135,000

NET BOOK VALUE

At 31 December 2013

315,000

At 31 December 2012

337,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

22,652

Additions

5,074

At 31 December 2013

27,726

DEPRECIATION

At 1 January 2013

6,479

Charge for year

4,812

At 31 December 2013

11,291

NET BOOK VALUE

At 31 December 2013

16,435

At 31 December 2012

16,173

4.

CREDITORS

Creditors include an amount of £ 105,108 (31.12.12 - £ 118,148 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.12.13

31.12.12

£

£

Repayable by instalments

28,917

36,157

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

£

100

Ordinary Shares

1

100

100

6.	ULTIMATE CONTROLLING PARTY