Ray Darley Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04699546 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

RAY DARLEY LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

1,116,242

1,132,128

1,116,242

1,132,128

CURRENT ASSETS

Stocks

99,971

120,304

Debtors

221,169

223,496

Cash at bank

241,775

48,163

562,915

391,963

CREDITORS

Amounts falling due within one year

410,058

328,125

NET CURRENT ASSETS

152,857

63,838

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,269,099

1,195,966

PROVISIONS FOR LIABILITIES

59,133

56,863

NET ASSETS

1,209,966

1,139,103

CAPITAL AND RESERVES

Called up share capital

4

200

Profit and loss account

1,209,766

1,138,903

SHAREHOLDERS' FUNDS

1,209,966

1,139,103

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 22 December 2016 and were signed on its behalf by:

Mr R A Darley - Director

Mrs D Darley - 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 goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the

company has obtained the right to consideration through its performance and is measured at the fair value of the right to

consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Land - 0%

Improvements to property

-

2% on cost

Tractors and implements

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised as a liability or asset if the transactions or events that give an obligation to pay more tax in future

or a right to pay less tax in future have occurred by the balance sheet date.

Hire purchase and leasing commitments

Assets acquired under finance lease agreements, including hire purchase agreements, are capitalised and the corresponding

liability is included in creditors. Finance lease interest is charged to the profit and loss account on a straight line basis over

the period of the agreement. Operating lease rentals are charged against profits of the period to which they relate.

Goodwill

Goodwill has been written off over its useful economic life.

Going concern

The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient

resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern

basis of accounting in preparing the annual financial statements.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

60,000

AMORTISATION

At 1 April 2015

and 31 March 2016

60,000

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

1,901,422

Additions

63,469

Disposals

(29,976

)

At 31 March 2016

1,934,915

DEPRECIATION

At 1 April 2015

769,294

Charge for year

71,202

Eliminated on disposal

(21,823

)

At 31 March 2016

818,673

NET BOOK VALUE

At 31 March 2016

1,116,242

At 31 March 2015

1,132,128

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary A

£1

100

Ordinary B

£1

100

200