Royall and Son Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00744110 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

ROYALL AND SON LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr N Royall

Mrs S M Royall

SECRETARY:

Mrs S M Royall

REGISTERED OFFICE:

Riverside Road

Hoveton St John

Norwich

Norfolk

NR12 8UD

REGISTERED NUMBER:

00744110 (England and Wales)

ACCOUNTANTS:

Sexty & Co

Chartered Certified Accountants

2a Church Street

North Walsham

Norfolk

NR28 9DA

FIXED ASSETS

Tangible assets

2

478,608

491,913

CURRENT ASSETS

Stocks

5,749

5,653

Debtors

9,164

10,748

Cash at bank and in hand

22,896

96

37,809

16,497

CREDITORS

Amounts falling due within one year

35,939

40,345

NET CURRENT ASSETS/(LIABILITIES)

1,870

(23,848

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

480,478

468,065

PROVISIONS FOR LIABILITIES

64,000

67,000

NET ASSETS

416,478

401,065

CAPITAL AND RESERVES

Called up share capital

3

2,000

Profit and loss account

414,478

399,065

SHAREHOLDERS' FUNDS

416,478

401,065

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 3 August 2016 and were signed on its
behalf by:

Mr N Royall - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods and services, 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

-

not provided

Cruisers

-

not provided

Plant and equipment

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

No depreciation has been charged on the hire fleet cruisers as, on an individual basis, the estimated

residual value of each boat currently exceeds their net book value.

No depreciation has been charged on the freehold property as this is retained for investment purposes

and the buildings form an insignificant part of the overall book value.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

655,564

Disposals

(39,000

)

At 31 December 2015

616,564

DEPRECIATION

At 1 January 2015

163,651

Charge for year

1,305

Eliminated on disposal

(27,000

)

At 31 December 2015

137,956

NET BOOK VALUE

At 31 December 2015

478,608

At 31 December 2014

491,913

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2,000

Ordinary

£1

2,000

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is an amount owing to the directors at 31 December 2015 of £16,426 (2014

£18,955) which is unsecured, interest free and repayable on demand.

5.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr N Royall.