Alkmonton Tractors Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01810938 (England and Wales)

ALKMONTON TRACTORS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mr J Ayre

Mrs T M Ayre

Mrs J Devereux

SECRETARY:

Mrs T M Ayre

REGISTERED OFFICE:

Ivy Cottage

Alkmonton

ASHBOURNE

Derbyshire

DE6 3DL

REGISTERED NUMBER:

01810938 (England and Wales)

ACCOUNTANTS:

Johnson Tidsall Limited

Chartered Accountants

81 Burton Road

Derby

Derbyshire

DE1 1TJ

FIXED ASSETS

Tangible assets

2

317,020

283,590

CURRENT ASSETS

Stocks

330,612

289,416

Debtors

243,080

385,103

Cash at bank and in hand

58,098

47,864

631,790

722,383

CREDITORS

Amounts falling due within one year

3

348,285

409,766

NET CURRENT ASSETS

283,505

312,617

TOTAL ASSETS LESS CURRENT LIABILITIES

600,525

596,207

CREDITORS

Amounts falling due after more than one year

3

(99,679

)

(91,149

)

PROVISIONS FOR LIABILITIES

(4,298

)

(811

)

NET ASSETS

496,548

504,247

CAPITAL AND RESERVES

Called up share capital

4

20,000

20,000

Profit and loss account

476,548

484,247

SHAREHOLDERS' FUNDS

496,548

504,247

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 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 24 January 2017 and were signed on its behalf by:

Mr J Ayre - 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.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance and 20% on reducing balance

Motor vehicles

-

20% 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument

is any contract that evidences a residual interest in the assets of the company after deducting all of

its liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

388,465

Additions

71,471

Disposals

(43,692

)

At 30 April 2016

416,244

DEPRECIATION

At 1 May 2015

104,875

Charge for year

15,064

Eliminated on disposal

(20,715

)

At 30 April 2016

99,224

NET BOOK VALUE

At 30 April 2016

317,020

At 30 April 2015

283,590

3.

CREDITORS

Creditors include an amount of £ 29,824 (2015 - £ 9,472 ) for which security has been given.

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

2016

2015

£

£

Repayable by instalments

47,732

52,967

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

20,000

Ordinary

£1

20,000

20,000