Pobjoy Mint Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 00509935 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Pobjoy Mint Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Miss T Pobjoy

D C Pobjoy

SECRETARY:

T J Warner

REGISTERED OFFICE:

Millennia House

Kingswood Park

Bonsor Drive

Kingswood

Surrey

KT20 6AY

REGISTERED NUMBER:

00509935 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8/10 South Street

Epsom

Surrey

KT18 7PF

BANKERS:

Barclays Bank Plc

8-9 Hanover Square

London

W1A 4ZW

FIXED ASSETS

Tangible assets

2

233,368

144,710

Investments

3

9,230

9,230

242,598

153,940

CURRENT ASSETS

Stocks

143,486

402,675

Debtors

192,135

225,278

Cash at bank

201,637

115,198

537,258

743,151

CREDITORS

Amounts falling due within one year

674,175

3,155,050

NET CURRENT LIABILITIES

(136,917

)

(2,411,899

)

TOTAL ASSETS LESS CURRENT LIABILITIES

105,681

(2,257,959

)

CREDITORS

Amounts falling due after more than one year

2,308,033

-

NET LIABILITIES

(2,202,352

)

(2,257,959

)

CAPITAL AND RESERVES

Called up share capital

4

5,000

5,000

Revaluation reserve

31,687

31,687

Profit and loss account

(2,239,039

)

(2,294,646

)

SHAREHOLDERS' FUNDS

(2,202,352

)

(2,257,959

)

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 15 September 2016 and were signed on its behalf by:

Miss T Pobjoy - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis.

The Directors have prepared detailed forecasts and cashflow projections which they believe are based

upon reasonable assumptions. These forecasts show that the Company should be able to operate

within its current facilities and with support from its holding company for the foreseeable future and

thus the Directors consider it appropriate to prepare the financial statements on a going concern basis.

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, excluding VAT. Turnover is recognised when goods

are delivered to customers and title passes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

at variable rates on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items. Precious metals are valued at year end market rates.

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.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company is a

wholly owned subsidiary of Derek Pobjoy Investments Ltd.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

3,486,102

Additions

120,572

Disposals

(14,475

)

At 31 December 2015

3,592,199

DEPRECIATION

At 1 January 2015

3,341,392

Charge for year

31,914

Eliminated on disposal

(14,475

)

At 31 December 2015

3,358,831

NET BOOK VALUE

At 31 December 2015

233,368

At 31 December 2014

144,710

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

9,230

NET BOOK VALUE

At 31 December 2015

9,230

At 31 December 2014

9,230

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

5,000

Ordinary Shares

£1

5,000

5,000

5.	ULTIMATE PARENT COMPANY

The ultimate parent company is Derek Pobjoy Investments Ltd, a company incorporated in England.

6.	RELATED PARTY DISCLOSURES