John Norton & Son (Sheffield) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03325425 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

JOHN NORTON & SON (SHEFFIELD) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

Mrs M Sayles

REGISTERED OFFICE:

169 Rutland Road

Sheffield

South Yorkshire

S3 9PT

REGISTERED NUMBER:

03325425 (England and Wales)

ACCOUNTANTS:

Procter and Co Accountants Ltd

Chartered Accountants

21A Sandygate Road

Sheffield

South Yorkshire

S10 5NG

FIXED ASSETS

Tangible assets

2

415,045

422,472

CURRENT ASSETS

Stocks

167,619

171,355

Debtors

110,217

110,826

Cash at bank and in hand

45,404

42,022

323,240

324,203

CREDITORS

Amounts falling due within one year

3

(135,954

)

(196,381

)

NET CURRENT ASSETS

187,286

127,822

TOTAL ASSETS LESS CURRENT
LIABILITIES

602,331

550,294

CREDITORS

Amounts falling due after more than one
year

3

(173,191

)

(194,507

)

PROVISIONS FOR LIABILITIES

(6,442

)

(5,464

)

NET ASSETS

422,698

350,323

CAPITAL AND RESERVES

Called up share capital

4

2

Revaluation reserve

219,276

223,454

Profit and loss account

203,420

126,867

SHAREHOLDERS' FUNDS

422,698

350,323

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 her 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 director on 16 October 2016 and were signed by:

Mrs M Sayles - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets 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.

Freehold property

-

2% on cost

Plant and machinery

-

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.

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 OR VALUATION

At 1 April 2015

511,784

Additions

13,193

Disposals

(12,695

)

At 31 March 2016

512,282

DEPRECIATION

At 1 April 2015

89,312

Charge for year

17,607

Eliminated on disposal

(9,682

)

At 31 March 2016

97,237

NET BOOK VALUE

At 31 March 2016

415,045

At 31 March 2015

422,472

3.

CREDITORS

Creditors include an amount of £ 120,377 (2015 - £ 138,426 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of John Norton & Son (Sheffield) Limited for the year ended 31 March 2016 which

comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of John Norton & Son (Sheffield) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of John Norton & Son (Sheffield) Limited and state those matters that we have agreed to state to the director of John Norton & Son (Sheffield) Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that John Norton & Son (Sheffield) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of John Norton & Son (Sheffield) Limited. You consider that John Norton & Son (Sheffield) 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 financial statements of John Norton & Son (Sheffield) 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 financial statements.

Procter and Co Accountants Ltd

Chartered Accountants

21A Sandygate Road

Sheffield

South Yorkshire

S10 5NG

Date: .............................................