Elliotts (New Forest) Limited - Limited company - abbreviated

REGISTERED NUMBER: 00477837 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2014

FOR

ELLIOTTS (NEW FOREST) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

N E Welker

SECRETARY:

REGISTERED OFFICE:

44/46 High Street

Lymington

Hampshire

SO41 9YS

REGISTERED NUMBER:

00477837 (England and Wales)

ACCOUNTANTS:

Buckleys

Chartered Accountants

Units 3 & 4 Shelley Farm

Shelley Lane

Ower

Romsey

Hampshire

SO51 6AS

FIXED ASSETS

Tangible assets

2

167,300

160,651

CURRENT ASSETS

Stocks

265,940

270,206

Debtors

17,384

16,879

Cash at bank and in hand

173,622

224,309

456,946

511,394

CREDITORS

Amounts falling due within one year

214,222

237,199

NET CURRENT ASSETS

242,724

274,195

TOTAL ASSETS LESS CURRENT
LIABILITIES

410,024

434,846

CREDITORS

Amounts falling due after more than
one year

3

(9,000

)

(9,000

)

PROVISIONS FOR LIABILITIES

(22,624

)

(17,353

)

NET ASSETS

378,400

408,493

CAPITAL AND RESERVES

Called up share capital

4

19,000

Capital redemption reserve

1,000

Profit and loss account

358,400

388,493

SHAREHOLDERS' FUNDS

378,400

408,493

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2014 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 20 June 2014 and were signed by:

N E Welker - 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.

Tangible fixed assets

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

Freehold property

-

10% on reducing balance

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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.

Employee benefit trust

During 2010 the Company established an employee benefit trust for the benefit of its

officers, employees and their wider families,The Elliotts (New Forest ) Limited Benefit Trust(

''EBT'').

In accordance with UITF abstract 32 ''Employee Benefit Trusts and other intermediate

payment arrangements'' the Company does not include the assets and liabilities of the EBT

on its balance sheet to the extent that it considers that it will not retain any economic

benefit from the assets of the EBT and will not have control of the rights or other access to

those present economic benefits.

Employer financed retirement benefit scheme

During 2010 the Company established an employer financed retirement benefit scheme for

the benefit of its officers,employees and their wider families, The Elliotts ( New Forest)

Limited Employer Financed Retirement Benefit Scheme.( ''The Scheme '') .

In accordance with UITF abstract 32 ''Employee Benefit Trusts and other intermediate

payment arrangements '' the Company does not include the assets and liabilities of The

Scheme on its balance sheet to the extent that it considers that it will not retain any

economic benefit from the assets of The Scheme and will not have control of the rights or

other access to those present economic benefits.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2013

725,165

Additions

35,095

Disposals

(41,290

)

At 31 January 2014

718,970

DEPRECIATION

At 1 February 2013

564,514

Charge for year

21,157

Eliminated on disposal

(34,001

)

At 31 January 2014

551,670

NET BOOK VALUE

At 31 January 2014

167,300

At 31 January 2013

160,651

3.

CREDITORS

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

31.1.14

31.1.13

£

Repayable otherwise than by instalments

9,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.14

31.1.13

value:

£

190,000

Ordinary 'A'

5p

9,500

75,000

Ordinary 'B'

5p

3,750

30,000

Ordinary 'C'

5p

1,500

75,000

Ordinary 'D'

5p

3,750

10,000

Ordinary 'F'

5p

500

19,000

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company pays rent of £4,590 per annum (2013 £4,590 )to Mr & Mrs U.O.B Welker for

the use of the premises at 44-46 High Street, Lymington, Hampshire.

During the year Mr & Mrs U.O.B Welker purchased a company motor vehicle for £10,000

and also Mr N.E.Welker sold a motor vehicle to the company for £11,000.Both these values

represented the open market value at the time.

At the Balance sheet date,the company owed the directors N.EWelker & Mrs E Welker

£42,816(2013 £48,171) and the directors U.O.B.Welker & Mrs J.J.Elliott-Welker

£27,443(2013 £10,267)

During the year, the company paid dividends of £31,700 (2013 £32,500) to Mr.N.E.Welker,

£31,700 (2013 £32,500) to Mrs E Welker, £22,000 (2013 £15,500) to Mr U.O.B.Welker and

£29,500(2013 £25,271) to Mrs J.J.Elliott-Welker.

6.	PRIOR YEAR ADJUSTMENT

The Prior year adjustment occurred as a result of a £17,500 overstatement of dividends.The

result of this adjustment is an increase in the profit & loss account reserves of £17,500 and

a corresponding decrease in the directors current account.

Elliotts (New Forest) Limited - Limited company - abbreviated - 11.0.0

Elliotts (New Forest) Limited - Limited company - abbreviated - 11.0.0