Jim Brown Fabrications Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 09176391 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2016

for

Jim Brown Fabrications Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr JR Brown

Mrs G Brown

SECRETARY:

Mrs G Brown

REGISTERED OFFICE:

Broadfield

Horse Park Lane, Pilling

Preston

Lancashire

PR3 6AS

REGISTERED NUMBER:

09176391 (England and Wales)

ACCOUNTANTS:

Towers + Gornall Ltd

Chartered Certified Accountants

Abacus House

The Ropewalk

Garstang

Preston

Lancashire

PR3 1NS

FIXED ASSETS

Intangible assets

2

30,000

36,000

Tangible assets

3

27,049

16,403

Investments

4

1

-

57,050

52,403

CURRENT ASSETS

Stocks

23,970

14,416

Debtors

84,330

46,012

Cash at bank

17,622

52,516

125,922

112,944

CREDITORS

Amounts falling due within one year

157,327

152,310

NET CURRENT LIABILITIES

(31,405

)

(39,366

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,645

13,037

PROVISIONS FOR LIABILITIES

5,409

3,280

NET ASSETS

20,236

9,757

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

20,136

9,657

SHAREHOLDERS' FUNDS

20,236

9,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 1 November 2016 and were signed on its behalf by:

Mr JR Brown - Director

Mrs G Brown - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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

-

33% on cost, 20% on reducing balance 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.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

40,000

AMORTISATION

At 1 September 2015

4,000

Amortisation for year

6,000

At 31 August 2016

10,000

NET BOOK VALUE

At 31 August 2016

30,000

At 31 August 2015

36,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

19,568

Additions

14,500

At 31 August 2016

34,068

DEPRECIATION

At 1 September 2015

3,165

Charge for year

3,854

At 31 August 2016

7,019

NET BOOK VALUE

At 31 August 2016

27,049

At 31 August 2015

16,403

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

1

At 31 August 2016

1

NET BOOK VALUE

At 31 August 2016

1

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1.00

100

100