M & R Drayton Ltd - Period Ending 2016-03-31

Registration number: 05761590

M & R Drayton Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Spirare Limited
Chartered Certified Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

M & R Drayton Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
M & R Drayton Ltd
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of M & R Drayton Ltd for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html .

This report is made solely to the Board of Directors of M & R Drayton Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of M & R Drayton Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M & R Drayton Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that M & R Drayton Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of M & R Drayton Ltd. You consider that M & R Drayton Ltd 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 accounts of M & R Drayton Ltd. 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 accounts.

......................................

Spirare Limited
Chartered Certified Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

17 October 2016

Page 1

M & R Drayton Ltd
(Registration number: 05761590)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					9,492			7,332
Current assets
Stocks					1,257			987
Debtors					62,673			27,649
Cash at bank and in hand					6,739			14,581
					70,669			43,217
Creditors: Amounts falling due within one year					(72,161)			(45,315)
Net current liabilities					(1,492)			(2,098)
Total assets less current liabilities					8,000			5,234
Provisions for liabilities					(1,898)			(1,466)
Net assets					6,102			3,768
Capital and reserves
Called up share capital		3			140			100
Profit and loss account					5,962			3,668
Shareholders' funds					6,102			3,768

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 Board on 17 October 2016 and signed on its behalf by:

.........................................
Mr M J Drayton
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

M & R Drayton Ltd
(Registration number: 05761590)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mrs T J Drayton
Director

.........................................
Mr M Drayton
Director

.........................................
Mr S J Drayton
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

M & R Drayton Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Plant and machinery	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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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 4

M & R Drayton Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		18,358			18,358
Additions		8,505			8,505
Disposals		(5,500)			(5,500)
At 31 March 2016		21,363			21,363
Depreciation
At 1 April 2015		11,026			11,026
Charge for the year		3,165			3,165
Eliminated on disposals		(2,320)			(2,320)
At 31 March 2016		11,871			11,871
Net book value
At 31 March 2016		9,492			9,492
At 31 March 2015		7,332			7,332

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A of £1 each		100			100			100			100
Ordinary B of £1 (2015 - £0.00) each		10			10			-			-
Ordinary C of £1 (2015 - £0.00) each		10			10			-			-
Ordinary D of £1 (2015 - £0.00) each		10			10			-			-
Ordinary E of £1 (2015 - £0.00) each		10			10			-			-
		140			140			100			100

New shares allotted

During the year 10 Ordinary B having an aggregate nominal value of £10 were allotted for an aggregate consideration of £10. Issued on appointment of new Directors.

During the year 10 Ordinary C having an aggregate nominal value of £10 were allotted for an aggregate consideration of £10. Issued on appointment of new Directors.

During the year 10 Ordinary D having an aggregate nominal value of £10 were allotted for an aggregate consideration of £10. Issued on appointment of new Directors.

Page 5

M & R Drayton Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

During the year 10 Ordinary E having an aggregate nominal value of £10 were allotted for an aggregate consideration of £10. Issued on appointment of new Directors.

4

Control

The company is controlled by Mr M J Drayton.

Page 6