M.A._RANCE_&_COMPANY_LIMI - Accounts

M.A.RANCE & COMPANY LIMITED - Company Information

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Company Registration No. 00392166 (England and Wales)

M.A. RANCE & COMPANY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2016

M.A. RANCE & COMPANY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

M.A. RANCE & COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,242,462

Current assets

Debtors

23,760

10,815

Cash at bank and in hand

130,390

142,618

154,150

153,433

Creditors: amounts falling due within one year

(23,070)

(24,356)

Net current assets

131,080

129,077

Total assets less current liabilities

1,373,542

1,371,539

Capital and reserves

Called up share capital

2,500

Revaluation reserve

1,210,330

Other reserves

3,381

Profit and loss account

157,331

155,328

Shareholders' funds

1,373,542

1,371,539

For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 18 February 2016

Mrs A. Andrews

Director

Company Registration No. 00392166

M.A. RANCE & COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 2 -

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 January 2015).

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.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Nil

Fixtures, fittings & equipment

15% Reducing balance

1.5

Investment properties

Freehold and long leasehold properties of the company are valued, in accordance with the FinancialReporting Standard for Smaller Entities, annually by the directors, at open market value. Adjustments to annual valuations are taken to the propertyy revaluation reserve. No depreciation or amortisation is provided in respect of these properties. This is contrary to the Companies Act 1985, which states that fixed assets should be depreciated.
The treatment of investment properties under the Companies Act does not give a true and fair view as these assets are held as investments. It is the current value of these investments, and changes to thatcurrent value, which are of prime importance. Consequently for the proper appreciation of the financial position, the accounting treatment required by the Financial Reporting Standard for Smaller Entities is considered to be more appropriate for investment properties.

Fixed assets

Tangible assets

Cost or valuation

At 1 February 2015 & at 31 January 2016

1,249,411

Depreciation

At 1 February 2015 & at 31 January 2016

6,949

Net book value

At 31 January 2016

1,242,462

At 31 January 2015

1,242,462

M.A. RANCE & COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

2,400 'A' Ordinary shares of £1 each

2,400

2,500