Mark Jinkinson (Optometrist) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04465094 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH JUNE 2016

FOR

MARK JINKINSON (OPTOMETRIST) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr A M Jinkinson

SECRETARY:

Mrs D Jinkinson

REGISTERED OFFICE:

95 Burnley Road

Padiham

Lancashire

BB12 8BL

REGISTERED NUMBER:

04465094 (England and Wales)

ACCOUNTANTS:

Ainsworths Limited

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

14,757

7,949

14,757

7,949

CURRENT ASSETS

Stocks

9,800

10,200

Debtors

4,626

4,086

Cash at bank and in hand

9,893

8,271

24,319

22,557

CREDITORS

Amounts falling due within one year

4

22,214

17,496

NET CURRENT ASSETS

2,105

5,061

TOTAL ASSETS LESS CURRENT
LIABILITIES

16,862

13,010

CREDITORS

Amounts falling due after more than one
year

4

(1,232

)

(3,833

)

PROVISIONS FOR LIABILITIES

(2,951

)

(1,590

)

NET ASSETS

12,679

7,587

CAPITAL AND RESERVES

Called up share capital

5

500

Profit and loss account

12,179

7,087

SHAREHOLDERS' FUNDS

12,679

7,587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 17th January 2017 and were signed by:

Mr A M Jinkinson - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2015

and 30th June 2016

120,000

AMORTISATION

At 1st July 2015

and 30th June 2016

120,000

NET BOOK VALUE

At 30th June 2016

-

At 30th June 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2015

36,859

Additions

8,583

At 30th June 2016

45,442

DEPRECIATION

At 1st July 2015

28,910

Charge for year

1,775

At 30th June 2016

30,685

NET BOOK VALUE

At 30th June 2016

14,757

At 30th June 2015

7,949

4.

CREDITORS

Creditors include an amount of £ 3,833 (30.6.15 - £ 6,434 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

500

Ordinary

£1

500

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th June 2016 and

30th June 2015:

30.6.16

30.6.15

£

Mr A M Jinkinson

Balance outstanding at start of year

(1,062

)

(342

)

Amounts advanced

55,572

34,280

Amounts repaid

(55,000

)

(35,000

)

Balance outstanding at end of year

(490

)

(1,062

)

These loans are interest free, unsecured and are repayable on demand.