S.J.Farrant & Son Limited - Period Ending 2015-09-30

Registration number: 00507887

S.J.Farrant & Son Limited
 
  Unaudited Abbreviated Accounts
 
  for the year ended 30 September 2015
 

S.J.Farrant & Son Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

S.J.Farrant & Son Limited
(Registration number: 00507887)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015						2014
	£			£			£			£
Fixed assets
Tangible fixed assets								12,901,052						12,882,678
Current assets
Stocks					300,078						296,343
Debtors					366,889						98,825
Cash at bank and in hand					494,746						732,809
					1,161,713						1,127,977
Creditors: Amounts falling due within one year					(139,029)						(132,081)
Net current assets								1,022,684						995,896
Total assets less current liabilities								13,923,736						13,878,574
Provisions for liabilities								(85,145)						(90,388)
Net assets								13,838,591						13,788,186
Capital and reserves
Called up share capital		3			20,000						20,000
Revaluation reserve					10,965,381						10,965,381
Profit and loss account					2,853,210						2,802,805
Shareholders' funds								13,838,591						13,788,186

Page 1

S.J.Farrant & Son Limited
(Registration number: 00507887)
Abbreviated Balance Sheet at 30 September 2015

For the year ended 30 September 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 directors acknowledge their 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 Board on 31 March 2016 and signed on its behalf by:

.........................................
Mr H A Farrant
Director

Page 2

S.J.Farrant & Son Limited
Notes to the Abbreviated Accounts for the year Ended 30 September 2015

1	Accounting policies

Basis of preparation

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 amounts chargeable 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
Freehold land	Nil
Freehold buildings	2% straight line
Other tangible assets	25% reducing balance

Investment properties

Investment properties are revalued annually at their open market value in accordance with FRSSE (effective April 2008). The surplus or deficit is transferred to a revaluation reserve except where the deficit is deemed to be permanent and reduces the property below it's historical cost, in which case it is taken to the profit and loss account. The treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete, damaged stock and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost is based on using the anticipated convention set out in HS232 to arrive at deemed costs where actual costs are not ascertainable.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

S.J.Farrant & Son Limited
Notes to the Abbreviated Accounts for the year Ended 30 September 2015

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.

Pensions

The company pays into defined contribution pension schemes. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the schemes.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		13,562,524			13,562,524
Additions		233,996			233,996
Disposals		(122,486)			(122,486)
At 30 September 2015		13,674,034			13,674,034
Depreciation
At 1 October 2014		679,846			679,846
Charge for the year		177,447			177,447
Eliminated on disposals		(84,311)			(84,311)
At 30 September 2015		772,982			772,982
Net book value
At 30 September 2015		12,901,052			12,901,052
At 30 September 2014		12,882,678			12,882,678

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		20,000			20,000			20,000			20,000

Page 4