Frederick C.Mitchell & Sons Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00480857 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

FREDERICK C.MITCHELL & SONS LIMITED

TRADING AS

PARKSTONE BAY MARINA

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S C Rawlinson

E C Warington-Smyth

SECRETARY:

E C Warington-Smyth

REGISTERED OFFICE:

Northpoint

Parkstone Bay Marina

Turks Lane

Poole

Dorset

BH14 8EW

REGISTERED NUMBER:

00480857 (England and Wales)

ACCOUNTANTS:

ADDICUS

Chartered Accountants

1 Winchester Place

North Street

Poole

Dorset

BH15 1NX

FIXED ASSETS

Tangible assets

2

1,267,832

1,213,866

Investments

3

100

1,267,932

1,213,966

CURRENT ASSETS

Stocks

11,208

9,836

Debtors

1,130,432

1,133,238

Cash at bank and in hand

395,081

246,596

1,536,721

1,389,670

CREDITORS

Amounts falling due within one year

1,209,043

1,127,316

NET CURRENT ASSETS

327,678

262,354

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,595,610

1,476,320

CREDITORS

Amounts falling due after more than one
year

(131,628

)

(164,135

)

PROVISIONS FOR LIABILITIES

(90,551

)

(71,486

)

NET ASSETS

1,373,431

1,240,699

CAPITAL AND RESERVES

Called up share capital

4

12,500

Revaluation reserve

403,429

Profit and loss account

957,502

824,770

SHAREHOLDERS' FUNDS

1,373,431

1,240,699

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:

S C Rawlinson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of

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.

Plant and machinery

-

25% 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 where transactions or events have occurred at that date that will result in an obligation to pay

more, or a right to pay less or to receive more, tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 April 2015

2,286,006

Additions

248,064

Disposals

(224,253

)

At 31 March 2016

2,309,817

DEPRECIATION

At 1 April 2015

1,072,140

Charge for year

149,798

Eliminated on disposal

(179,953

)

At 31 March 2016

1,041,985

NET BOOK VALUE

At 31 March 2016

1,267,832

At 31 March 2015

1,213,866

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

100

NET BOOK VALUE

At 31 March 2016

100

At 31 March 2015

100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Parkstone Bay Yachts Limited

Nature of business: Yacht sales and management

%

Class of shares:

holding

Ordinary Non Voting

100.00

2016

2015

£

Aggregate capital and reserves

25,288

64,853

Loss for the year

(39,565

)

(70,465

)

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

12,500

Ordinary

£1

12,500

5.	ULTIMATE PARENT COMPANY

Parkstone Bay Marina Limited is regarded by the directors as being the company's ultimate parent company.