Percy Davies & Son Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 00553377 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

PERCY DAVIES & SON LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

B P Davies

P B Davies

M McKearney

SECRETARY:

B P Davies

REGISTERED OFFICE:

15 Packhorse Road

Gerrard's Cross

Buckinghamshire

SL9 7QA

REGISTERED NUMBER:

00553377 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

2

6,449

7,353

Investments

3

200

200

6,649

7,553

CURRENT ASSETS

Stocks

325,151

314,586

Debtors

9,821

9,243

Cash at bank and in hand

44,654

25,534

379,626

349,363

CREDITORS

Amounts falling due within one year

61,684

49,550

NET CURRENT ASSETS

317,942

299,813

TOTAL ASSETS LESS CURRENT LIABILITIES

324,591

307,366

CAPITAL AND RESERVES

Called up share capital

4

7,000

7,000

Profit and loss account

317,591

300,366

SHAREHOLDERS' FUNDS

324,591

307,366

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 7 September 2016 and were signed on its behalf by:

P B Davies - 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, 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.

Plant and machinery etc

-

25% on reducing balance, 20% to 50% on cost and 15% on reducing balance

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

104,434

DEPRECIATION

At 1 April 2015

97,081

Charge for year

904

At 31 March 2016

97,985

NET BOOK VALUE

At 31 March 2016

6,449

At 31 March 2015

7,353

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

200

NET BOOK VALUE

At 31 March 2016

200

At 31 March 2015

200

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

7,000

Ordinary

£1

7,000

7,000

5.	RELATED PARTY DISCLOSURES