W Southerington & Sons Ltd - Abbreviated accounts 16.1

W Southerington & Sons Ltd - Abbreviated accounts 16.1


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REGISTERED NUMBER: 01271128 (England and Wales)














ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

W SOUTHERINGTON & SONS LTD

W SOUTHERINGTON & SONS LTD (REGISTERED NUMBER: 01271128)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

W SOUTHERINGTON & SONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2016







DIRECTORS: Mr J Southerington
Mrs P A Southerington





SECRETARY: Mrs P A Southerington





REGISTERED OFFICE: Lakeside
Leicester Road
Melton Mowbray
Leicestershire
LE13 0DA





REGISTERED NUMBER: 01271128 (England and Wales)





ACCOUNTANTS: Osbornes Tax And Advisory Limited
Harwood House
Park Road
Melton Mowbray
Leicestershire
LE13 1TX

W SOUTHERINGTON & SONS LTD (REGISTERED NUMBER: 01271128)

ABBREVIATED BALANCE SHEET
31 MARCH 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 1,002,065 207,661

CURRENT ASSETS
Stocks 21,444 25,143
Debtors 35,246 71,014
Cash at bank and in hand 68,288 9,239
124,978 105,396
CREDITORS
Amounts falling due within one year 3 69,113 79,614
NET CURRENT ASSETS 55,865 25,782
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,057,930

233,443

CREDITORS
Amounts falling due after more than one
year

3

(43,259

)

(10,832

)

PROVISIONS FOR LIABILITIES (123,331 ) -
NET ASSETS 891,340 222,611

CAPITAL AND RESERVES
Called up share capital 4 29,000 29,000
Revaluation reserve 670,781 -
Profit and loss account 191,559 193,611
SHAREHOLDERS' FUNDS 891,340 222,611

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 8 July 2016 and were signed on its behalf by:





Mr J Southerington - Director


W SOUTHERINGTON & SONS LTD (REGISTERED NUMBER: 01271128)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January
2015).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings - 12.5% on reducing balance
Motor vehicles - 25% on reducing balance

Change in accounting estimate

During the year the directors took the decision to commence valuation of the freehold land and building to better
reflect the asset valuation.

Freehold land and building is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in market value is transferred to a revaluation reserve.

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.

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.

2. TANGIBLE FIXED ASSETS
Total
£   
COST OR VALUATION
At 1 April 2015 703,403
Additions 1,673
Disposals (65,255 )
Revaluations 803,788
Reclassification/transfer (14,397 )
At 31 March 2016 1,429,212
DEPRECIATION
At 1 April 2015 495,742
Charge for year 10,567
Eliminated on disposal (64,765 )
Reclassification/transfer (14,397 )
At 31 March 2016 427,147
NET BOOK VALUE
At 31 March 2016 1,002,065
At 31 March 2015 207,661

W SOUTHERINGTON & SONS LTD (REGISTERED NUMBER: 01271128)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2016

3. CREDITORS

Creditors include an amount of £ 56,894 (2015 - £ 14,567 ) for which security has been given.

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
20,000 Ordinary A £1 20,000 29,000
9,000 Ordinary B £1 9,000 -
29,000 29,000