R Handford And Co Podiatry Ltd - Period Ending 2016-03-31

Registration number: 07565616

R Handford And Co Podiatry Ltd

Unaudited Abbreviated Accounts
 
for the Year Ended 31 March 2016

Mansell & Co
Chartered Certified Accountants
5 Ducketts Wharf
South Street
Bishops Stortford
Hertfordshire
CM23 3AR

R Handford And Co Podiatry Ltd

Contents

Abbreviated Balance Sheet	1
Notes to the Abbreviated Accounts	2 to 3

R Handford And Co Podiatry Ltd

(Registration number: 07565616)
Abbreviated Balance Sheet as at 31 March 2016

	Note	2016  £	2015  £
Fixed assets
Intangible assets	2	64,000	72,000
Tangible assets	2	3,015	2,851
		67,015	74,851
Current assets
Stocks		555	555
Debtors		719	1,255
Cash at bank and in hand		3,928	8,759
		5,202	10,569
Creditors: Amounts falling due within one year		(56,391)	(71,423)
Net current liabilities		(51,189)	(60,854)
Total assets less current liabilities		15,826	13,997
Accruals and deferred income		(1,350)	(1,274)
Net assets		14,476	12,723
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		14,376	12,623
Shareholders funds		14,476	12,723

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 16 November 2016

.........................................
Richard Handford
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

R Handford And Co Podiatry Ltd

Notes to the Abbreviated Accounts

1

Accounting policies

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance
Equipment	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

R Handford And Co Podiatry Ltd

Notes to the Abbreviated Accounts

2

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 April 2015	80,000	5,675	85,675
Additions	-	1,169	1,169
At 31 March 2016	80,000	6,844	86,844
Depreciation
At 1 April 2015	8,000	2,824	10,824
Charge for the year	8,000	1,005	9,005
At 31 March 2016	16,000	3,829	19,829
Net book value
At 31 March 2016	64,000	3,015	67,015
At 31 March 2015	72,000	2,851	74,851

3

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

Page 3