A F Leighton Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05062352

Abbreviated Accounts for the Year Ended 31st March 2016

for

A F Leighton Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

A F Leighton

SECRETARY:

Mrs W J Leighton

REGISTERED OFFICE:

Hill Top Farm

Hallow

Worcester

Worcestershire

WR2 6PS

REGISTERED NUMBER:

05062352

ACCOUNTANTS:

The Richards Sandy Partnership

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

FIXED ASSETS

Tangible assets

2

71,374

84,982

CURRENT ASSETS

Stocks

54,000

76,500

Debtors

11,898

11,566

65,898

88,066

CREDITORS

Amounts falling due within one year

3

162,160

175,969

NET CURRENT LIABILITIES

(96,262

)

(87,903

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(24,888

)

(2,921

)

CREDITORS

Amounts falling due after more than one year

3

(7,600

)

(12,400

)

PROVISIONS FOR LIABILITIES

(8,977

)

(11,012

)

NET LIABILITIES

(41,465

)

(26,333

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(41,466

)

(26,334

)

SHAREHOLDERS' FUNDS

(41,465

)

(26,333

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 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 21st November 2016 and were signed by:

A F Leighton - 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.

Freehold property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Tractors

-

10% 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

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

193,317

Additions

2,650

Disposals

(5,000

)

At 31st March 2016

190,967

DEPRECIATION

At 1st April 2015

108,335

Charge for year

11,258

At 31st March 2016

119,593

NET BOOK VALUE

At 31st March 2016

71,374

At 31st March 2015

84,982

3.

CREDITORS

Creditors include an amount of £ 52,636 (2015 - £ 60,208 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

1.00

1

1

5.	GOING CONCERN

As at the year end the balance sheet was overdrawn. The Director has agreed to support the company for the

foreseeable future and the accounts are therefore drawn up on a going concern basis.