SmithParsons Partnership Ltd - Abbreviated accounts 16.1
SmithParsons Partnership Ltd - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31 October 2015 |
| for |
| SmithParsons Partnership Ltd |
| SmithParsons Partnership Ltd (Registered number: 05491234) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 October 2015 |
| Page |
| Abbreviated Balance Sheet | 1 |
| Notes to the Abbreviated Accounts | 3 |
| SmithParsons Partnership Ltd (Registered number: 05491234) |
| Abbreviated Balance Sheet |
| 31 October 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 6 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| SmithParsons Partnership Ltd (Registered number: 05491234) |
| Abbreviated Balance Sheet - continued |
| 31 October 2015 |
| The financial statements were approved by the Board of Directors on |
| SmithParsons Partnership Ltd (Registered number: 05491234) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 October 2015 |
| 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 April 2008). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is |
| recognised when the company obtains the right to consideration. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at market value. 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. |
| 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. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 November 2014 |
| and 31 October 2015 |
| AMORTISATION |
| At 1 November 2014 |
| and 31 October 2015 |
| NET BOOK VALUE |
| At 31 October 2015 |
| At 31 October 2014 |
| SmithParsons Partnership Ltd (Registered number: 05491234) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 October 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 November 2014 |
| Additions |
| At 31 October 2015 |
| DEPRECIATION |
| At 1 November 2014 |
| Charge for year |
| At 31 October 2015 |
| NET BOOK VALUE |
| At 31 October 2015 |
| At 31 October 2014 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST OR VALUATION |
| At 1 November 2014 | 300,000 |
| Disposals | (22,428 | ) |
| At 31 October 2015 | 277,572 |
| NET BOOK VALUE |
| At 31 October 2015 |
| At 31 October 2014 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 November 2014 |
| Disposals | ( |
) |
| At 31 October 2015 |
| NET BOOK VALUE |
| At 31 October 2015 |
| At 31 October 2014 |
| 6. | CREDITORS |
| Creditors include an amount of £ |
| SmithParsons Partnership Ltd (Registered number: 05491234) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 October 2015 |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year the company traded on an arms length basis with the unincorporated business Smith Parsons, in which the directors Mr. |
| M. Smith and Mr. G. Parsons are partners. The transactions are as follows |
| 2015 | 2014 |
| £ | £ |
| Rental Income | 12,546 | 12,372 |
| Admin Expenses | 167,083 | 225,833 |