Mrs J C Altham & Sons (Lancaster) Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 00842815 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Mrs J C Altham & Sons (Lancaster) Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Report of the Accountants

7

DIRECTORS:

Mr J C Altham

Mrs L M Altham

Mrs J M Watson

SECRETARY:

Mrs J M Watson

REGISTERED OFFICE:

Anchor Building

Penrod Way

Heysham

Morecambe

Lancashire

LA3 2UZ

REGISTERED NUMBER:

00842815 (England and Wales)

ACCOUNTANTS:

Waters & Atkinson

Chartered Accountants

The Old Court House

Clark Street

Morecambe

LA4 5HR

BANKERS:

National Westminster Bank plc

262 Marine Road Central

Morecambe

Lancashire

LA4 5BT

FIXED ASSETS

Tangible assets

2

306,777

385,852

Investments

3

7,441

14,881

314,218

400,733

CURRENT ASSETS

Stocks

414,053

455,477

Debtors

587,095

767,404

Cash at bank and in hand

18,004

6,969

1,019,152

1,229,850

CREDITORS

Amounts falling due within one year

4

1,035,638

1,240,522

NET CURRENT LIABILITIES

(16,486

)

(10,672

)

TOTAL ASSETS LESS CURRENT LIABILITIES

297,732

390,061

CREDITORS

Amounts falling due after more than one year

4

(65,435

)

(142,706

)

PROVISIONS FOR LIABILITIES

(50,564

)

(65,904

)

NET ASSETS

181,733

181,451

CAPITAL AND RESERVES

Called up share capital

5

12,030

12,030

Profit and loss account

169,703

169,421

SHAREHOLDERS' FUNDS

181,733

181,451

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 1 November 2016 and were signed on its behalf by:

Mr J C Altham - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

10% on cost

Plant and machinery

-

33% on cost and 10% on cost

Motor vehicles

-

20% on cost

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

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

At 1 April 2015

959,646

Additions

8,968

Disposals

(31,550

)

At 31 March 2016

937,064

DEPRECIATION

At 1 April 2015

573,794

Charge for year

81,733

Eliminated on disposal

(25,240

)

At 31 March 2016

630,287

NET BOOK VALUE

At 31 March 2016

306,777

At 31 March 2015

385,852

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

14,881

Disposals

(7,440

)

At 31 March 2016

7,441

NET BOOK VALUE

At 31 March 2016

7,441

At 31 March 2015

14,881

4.

CREDITORS

Creditors include an amount of £ 139,651 (31.3.15 - £ 252,877 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

12,000

Ordinary

£1

12,000

12,000

30

"A", "B" & "C"

£1

30

30

12,030

12,030

6.	ULTIMATE PARENT COMPANY

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

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have

been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2016 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Waters & Atkinson

Chartered Accountants

The Old Court House

Clark Street

Morecambe

LA4 5HR

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