Ingleby Ventures Limited - Limited company accounts 16.1

REGISTERED NUMBER: 08931953 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2016

for

Ingleby Ventures Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

G Jarvis

SECRETARY:

Mrs K Jarvis

REGISTERED OFFICE:

The Granary

Elm Farm

Ingleby

Derby

Derbyshire

DE73 7HW

REGISTERED NUMBER:

08931953 (England and Wales)

ACCOUNTANTS:

BL Accountancy

Quorn Lodge

Callans Lane

Calke

Leicestershire

LE65 1RJ

The director presents his report with the financial statements of the Company for the year ended 31 March 2016.

DIRECTOR

G Jarvis held office during the whole of the period from 1 April 2015 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

G Jarvis - Director

7 October 2016

TURNOVER

96,672

93,159

Administrative expenses

54,535

47,311

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

2

42,137

45,848

Tax on profit on ordinary activities

3

8,641

9,293

PROFIT FOR THE FINANCIAL YEAR

33,496

36,555

FIXED ASSETS

Tangible assets

4

11,790

4,098

CURRENT ASSETS

Stocks

3,053

2,096

Debtors

5

1,200

1,920

Cash at bank

6,006

22,199

10,259

26,215

CREDITORS

Amounts falling due within one year

6

4,459

4,169

NET CURRENT ASSETS

5,800

22,046

TOTAL ASSETS LESS CURRENT LIABILITIES

17,590

26,144

CREDITORS

Amounts falling due after more than one year

7

8,641

9,293

ACCRUALS AND DEFERRED INCOME

8

4,634

4,032

CAPITAL AND RESERVES

Called up share capital

9

10

10

Profit and loss account

10

4,305

12,809

SHAREHOLDERS' FUNDS

4,315

12,819

17,590

26,144

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 director acknowledges his 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by Graham Jarvis the director on 7 October 2016 and were signed by:

G Jarvis - 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).

Exemption from preparing a cash flow statement

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

company qualifies as a small company.

Turnover

Turnover represents net invoiced sales of 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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

2.	OPERATING PROFIT

The operating profit is stated after charging:

Period

10.3.14

Year Ended

to

31.3.16

31.3.15

£

£

Depreciation - owned assets

3,772

1,252

Director's remuneration and other benefits etc

28,800

24,600

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

Period

10.3.14

Year Ended

to

31.3.16

31.3.15

£

£

Current tax:

UK corporation tax

8,641

9,293

Tax on profit on ordinary activities

8,641

9,293

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2015

5,350

Additions

11,464

At 31 March 2016

16,814

DEPRECIATION

At 1 April 2015

1,252

Charge for year

3,772

At 31 March 2016

5,024

NET BOOK VALUE

At 31 March 2016

11,790

At 31 March 2015

4,098

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

£

Trade debtors

1,200

1,920

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

£

Amounts owed to group undertakings

4,458

4,169

Other creditors

1

-

4,459

4,169

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.16

31.3.15

£

£

Taxation and social security

8,641

9,293

8.	ACCRUALS AND DEFERRED INCOME

31.3.16

31.3.15

£

£

Accruals and deferred income

4,634

4,032

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

10

Ordinary

1.00

10

10

10.

RESERVES

Profit

and loss

account

£

At 1 April 2015

12,809

Profit for the year

33,496

Dividends

(42,000

)

At 31 March 2016

4,305