James Sommerville & Son Limited - Period Ending 2015-12-31

JAMES SOMMERVILLE & SON LIMITED - Company Information

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Registration number: 04910698

James Sommerville & Son Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015

V&A Bell Brown LLP
Chartered Accountants and Chartered Tax Advisers
Stoneygate House
2 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT

James Sommerville & Son Limited
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 4

James Sommerville & Son Limited
(Registration number: 04910698)
Abbreviated Balance Sheet at 30 April 2015

	Note	30 April 2015 £	30 April 2014 £
Fixed assets
Tangible fixed assets		309	133
Current assets
Debtors		7,473	35,954
Cash at bank and in hand		20,997	26,935
		28,470	62,889
Creditors: Amounts falling due within one year		(21,672)	(43,888)
Net current assets		6,798	19,001
Total assets less current liabilities		7,107	19,134
Creditors: Amounts falling due after more than one year		-	(5,677)
Net assets		7,107	13,457
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		7,105	13,455
Shareholders' funds		7,107	13,457

For the year ending 30 April 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 director acknowledges his 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 director on 18 January 2016

.........................................
Mr JS Sommerville
Director

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

James Sommerville & Son Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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
Plant and machinery	25% straight line basis
Fixtures, fittings and equipment	15% straight line basis
Computer equipment	33% straight line basis
Motor van	25% straight line basis

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.

Page 2

James Sommerville & Son Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 May 2014	13,484	13,484
Additions	463	463
At 30 April 2015	13,947	13,947
Depreciation
At 1 May 2014	13,351	13,351
Charge for the year	287	287
At 30 April 2015	13,638	13,638
Net book value
At 30 April 2015	309	309
At 30 April 2014	133	133

3	Share capital

Allotted, called up and fully paid shares

	30 April 2015			30 April 2014
		No.	£		No.	£
Ordinary of £1 each		2	2		2	2

4	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Lightspace Homes Limited ( Mr J S Sommerville and Mrs R Parsons are both directors and shareholders )
During the year the company made sales and management fees of £34,766 (2014 £104,660) to Lightspace Homes Limited . At the balance sheet date the amount due (to)/from Lightspace Homes Limited was £nil ( 2014 - £628 ) .

Lightspace Homes Limited ( Mr J S Sommerville and Mrs R Parsons are both directors and shareholders )
Included in other creditors is a loan from Lightspace Homes Limited . At the balance sheet date the amount due to Lightspace Homes Limited was £3,200 ( 2014 - £3,200 ) .

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James Sommerville & Son Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

Lightspace Management Company Limited ( Mr J S Sommerville is a director of the company )
During the year the company made sales and management fees of £41,025 (2014 £37,825) to Lightspace Management Company Limited . At the balance sheet date the amount due from Lightspace Management Company Limited was £1,313 ( 2014 - £26,616 ) .

Lightspace Management Company Limited ( Mr J S Sommerville is a director of the company )
Included in other creditors is a loan from Lightspace Management Company Limited . At the balance sheet date the amount due to Lightspace Management Company Limited was £1,106 ( 2014 - £5,610 ) .

Mr J S Sommerville ( Director and shareholder )
Included in other creditors is a loan from the director, due to dividend and business expenses paid by him on behalf of the Company, not yet being drawn by him. During the year there have been sales £280 (2014 £nil) to Mr J S Sommerville, all sales were conducted on an arms length basis on a commercial basis . At the balance sheet date the amount due to Mr J S Sommerville was £7,575 ( 2014 - £5,678 ) .

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