GJ Wilcox (Agric) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06166450 (England and Wales)

Abbreviated Unaudited Accounts For The Year Ended 31 July 2016

for

GJ Wilcox (Agric) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr G J Wilcox

Mrs G E Wilcox

SECRETARY:

Mrs G E Wilcox

REGISTERED OFFICE:

7 Billing Road

Northampton

Northamptonshire

NN1 5AN

REGISTERED NUMBER:

06166450 (England and Wales)

ACCOUNTANTS:

Harris & Clarke LLP

7 Billing Road

Northampton

Northamptonshire

NN1 5AN

FIXED ASSETS

Tangible assets

2

184,860

120,709

CURRENT ASSETS

Stocks

500

500

Debtors

44,787

26,501

Cash at bank

16,906

40,090

62,193

67,091

CREDITORS

Amounts falling due within one year

88,013

62,533

NET CURRENT (LIABILITIES)/ASSETS

(25,820

)

4,558

TOTAL ASSETS LESS CURRENT LIABILITIES

159,040

125,267

CREDITORS

Amounts falling due after more than one year

3

(47,492

)

(50,683

)

PROVISIONS FOR LIABILITIES

(28,852

)

(22,897

)

NET ASSETS

82,696

51,687

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

82,596

51,587

SHAREHOLDERS' FUNDS

82,696

51,687

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 7 December 2016 and were signed on its behalf by:

Mr G J Wilcox - 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.

Plant and machinery etc

-

25% on reducing balance and 15% 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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

261,280

Additions

130,865

Disposals

(88,915

)

At 31 July 2016

303,230

DEPRECIATION

At 1 August 2015

140,571

Charge for year

25,426

Eliminated on disposal

(47,627

)

At 31 July 2016

118,370

NET BOOK VALUE

At 31 July 2016

184,860

At 31 July 2015

120,709

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

2016

2015

£

£

Repayable by instalments

47,492

50,683

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES