R. Crawford (Northern) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02282243 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

31 AUGUST 2015

FOR

R. CRAWFORD (NORTHERN) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

T D Briggs MBE MBA, LLB

J F Williams FCCA

J R Briggs MBChB, MRCGP

D Cotgrave

SECRETARY:

J F Williams FCCA

REGISTERED OFFICE:

Maxilin House

Sharples Vale

Astley Bridge

Bolton

Lancashire

BL1 6NR

REGISTERED NUMBER:

02282243 (England and Wales)

ACCOUNTANTS:

Dunhams

Chartered Accountants

11 Warwick Road

Old Trafford

Manchester

M16 0QQ

BANKERS:

National Westminster Bank Plc

36

The Rock

Bury

Lancashire

BL9 0NU

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

229,301

181,031

229,301

181,031

CURRENT ASSETS

Stocks

388,712

135,381

Debtors

422,618

406,278

Cash at bank and in hand

510,840

602,642

1,322,170

1,144,301

CREDITORS

Amounts falling due within one year

663,741

495,350

NET CURRENT ASSETS

658,429

648,951

TOTAL ASSETS LESS CURRENT
LIABILITIES

887,730

829,982

CREDITORS

Amounts falling due after more than one
year

(18,155

)

-

PROVISIONS FOR LIABILITIES

(39,568

)

(28,531

)

NET ASSETS

830,007

801,451

CAPITAL AND RESERVES

Called up share capital

4

90,100

Capital redemption reserve

10,000

Profit and loss account

729,907

701,351

SHAREHOLDERS' FUNDS

830,007

801,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 27 November 2015 and were signed on its behalf
by:

T D Briggs MBE MBA, LLB - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and are 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.

An analysis of turnover by geographical market is given below:

2015

2014

United Kingdom

88.60%

88.10%

Europe

11.40%

11.90%

100.00%

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

over 10 years

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% 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 arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's financial statements. Deferred tax is provided in

full on all timing differences which result in an obligation to pay more (or less) tax at a future date, at the

average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and

laws.

Deferred tax is not provided on timing differences arising from the valuation of fixed assets where there is no

commitment to sell the asset at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

and 31 August 2015

34,650

AMORTISATION

At 1 September 2014

and 31 August 2015

34,650

NET BOOK VALUE

At 31 August 2015

-

At 31 August 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

1,261,389

Additions

76,773

At 31 August 2015

1,338,162

DEPRECIATION

At 1 September 2014

1,080,358

Charge for year

28,503

At 31 August 2015

1,108,861

NET BOOK VALUE

At 31 August 2015

229,301

At 31 August 2014

181,031

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

90,000

Ordinary shares

£1

90,000

100

Preference shares

£1

100

90,100

5.	ULTIMATE PARENT COMPANY

Maxilin Manufacturing Limited a company registered in England and Wales is considered to be the ultimate

holding company.

6.	RELATED PARTY DISCLOSURES

Maxilin Limited.

During the year, R Crawford (Northern) Limited sold goods to the value of £318,730 (2014: £326,098) to

Maxilin Limited. At 31 August 2015 R. Crawford (Northern) Limited was owed the sum of £18,122

(2014:£57,621) by Maxilin Limited.

During the year, R Crawford (Northern) Limited purchased goods to the value of £357,243 (2014: £189,296)

from Maxilin Limited. At 31 August 2015 R Crawford (Northern) Limited owed the sum of £33,243 (2014:

£18,357) to Maxilin Limited.

Included in the accrued expenses of R Crawford (Northern) Limited is a management fee of £70,000 (2014:

£86,000) owed to Maxilin Limited.

A bank guarantee in favour of the National Westminster Bank plc has been entered into covering the bank

overdrafts and bank loans of R. Crawford (Northern) Limited and Maxilin Manufacturing Limited which

amounted to (£230,384) at 31 August 2015 (2014: £67,588).

Maxilin Manufacturing Limited.

Included in the creditors of R Crawford (Northern) Limited is a balance of £20,000 (2014: £20,000) which was

due to Maxilin Manufacturing Limited relating to management fees for the year to 31 August 2012.

7.	ULTIMATE CONTROLLING PARTY

Dr JR Briggs MBChb MRCGP holds 50% of the issued share capital of Maxilin Manufacturing Limited.

Mr T D Briggs MBE, MBA, LLB and Dr J R Briggs MBChB, MRCGP who together hold 50% of the shares in

Maxilin Manufacturing Limited in their capacity as trustees of the JR Briggs Accumulation and Maintenance

Trust are jointly considered to be the ultimate controlling party.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of R. Crawford (Northern) Limited for the year ended 31 August 2015 which comprise the Profit

and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of R. Crawford (Northern) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R. Crawford (Northern) Limited and state those matters that we have agreed to state to the Board of Directors of R. Crawford (Northern) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that R. Crawford (Northern) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R. Crawford (Northern) Limited. You consider that R. Crawford (Northern) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of R. Crawford (Northern) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dunhams

Chartered Accountants

11 Warwick Road

Old Trafford

Manchester

M16 0QQ

27 November 2015