Moxhams Limited - Period Ending 2016-01-31

Registration number: 03639130

Moxhams Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016
 

Moxhams Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Moxhams Limited
for the Year Ended 31 January 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Moxhams Limited for the year ended 31 January 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Moxhams Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Moxhams Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Moxhams Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Moxhams Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Moxhams Limited. You consider that Moxhams 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 accounts of Moxhams 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 accounts.

......................................

HowdenWhite LLP
Certified Chartered Accountants
Units 16-18
The Boscombe Centre
Amesbury
Wiltshire
SP4 7SD

9 September 2016

Page 1

Moxhams Limited
(Registration number: 03639130)
Abbreviated Balance Sheet at 31 January 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,090,200			1,000,003
Current assets
Stocks					8,000			7,500
Debtors					112,857			317,718
Cash at bank and in hand					94,825			226,681
					215,682			551,899
Creditors: Amounts falling due within one year					(85,575)			(186,520)
Net current assets					130,107			365,379
Total assets less current liabilities					1,220,307			1,365,382
Creditors: Amounts falling due after more than one year					(761,066)			(945,000)
Provisions for liabilities					(16,785)			(10,432)
Net assets					442,456			409,950
Capital and reserves
Called up share capital		4			5,000			5,000
Profit and loss account					437,456			404,950
Shareholders' funds					442,456			409,950

For the year ending 31 January 2016 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 director acknowledges his 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 director on 8 September 2016

.........................................
John Gilbert Albert Lucas
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Moxhams Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Revenue is recognised when the service is performed or when the goods are sold.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

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
Plant and machinery	25% to 33% straight line basis
Motor vehicles	25% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

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.

Page 3

Moxhams Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

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

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2015		1,619,038			1,619,038
Additions		180,460			180,460
Disposals		(268)			(268)
At 31 January 2016		1,799,230			1,799,230
Depreciation
At 1 February 2015		619,035			619,035
Charge for the year		90,264			90,264
Eliminated on disposals		(269)			(269)
At 31 January 2016		709,030			709,030
Net book value
At 31 January 2016		1,090,200			1,090,200
At 31 January 2015		1,000,003			1,000,003

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due after more than one year		745,000			945,000

Page 4

Moxhams Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		-			945,000

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		5,000			5,000			5,000			5,000

5	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
John Gilbert Albert Lucas
Directors Loan Account	(617)	-	243,628	243,628

Page 5