The Plough-Harborne Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04498671

THE PLOUGH-HARBORNE LIMITED

Abbreviated Unaudited Accounts for the Year Ended 30 April 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

R A Johnson BA (Hons)

REGISTERED OFFICE:

The Counting House

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

REGISTERED NUMBER:

04498671

ACCOUNTANTS:

Michael Dufty Partnership Limited

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

FIXED ASSETS

Tangible assets

2

587,642

481,189

CURRENT ASSETS

Stocks

40,959

24,807

Debtors

118,019

110,962

Cash at bank and in hand

246,384

170,232

405,362

306,001

CREDITORS

Amounts falling due within one year

3

656,401

511,376

NET CURRENT LIABILITIES

(251,039

)

(205,375

)

TOTAL ASSETS LESS CURRENT LIABILITIES

336,603

275,814

CREDITORS

Amounts falling due after more than one year

3

115,800

16,947

NET ASSETS

220,803

258,867

CAPITAL AND RESERVES

Called up share capital

4

198

198

Revaluation reserve

145,540

145,540

Profit and loss account

75,065

113,129

SHAREHOLDERS' FUNDS

220,803

258,867

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 6 January 2017 and were signed by:

R A Johnson BA (Hons) - 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

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.

Long leasehold

-

over the remaining term of the lease

Fixtures and fittings

-

25% on cost

Computer equipment

-

10% to 50% 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 May 2015

656,401

Additions

196,742

At 30 April 2016

853,143

DEPRECIATION

At 1 May 2015

175,212

Charge for year

90,289

At 30 April 2016

265,501

NET BOOK VALUE

At 30 April 2016

587,642

At 30 April 2015

481,189

3.

CREDITORS

Creditors include an amount of £ 168,267 (2015 - £ 50,840 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

198

Ordinary

£1

198

198

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

30 April 2015:

2016

2015

£

£

R A Johnson BA (Hons)

Balance outstanding at start of year

44,127

-

Amounts advanced

-

44,127

Amounts repaid

(22,030

)

-

Balance outstanding at end of year

22,097

44,127