Allen Mason & Sons (Herrington) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01114982 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 May 2016

for

Allen Mason & Sons (Herrington) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

A J Mason

SECRETARY:

A J Mason

REGISTERED OFFICE:

23 Archery Rise

Durham City

Co. Durham

DH1 4LA

REGISTERED NUMBER:

01114982 (England and Wales)

ACCOUNTANTS:

Pullan Barnes

Chartered Accountants

Stephenson House

Richard Street

Hetton-le-Hole

Tyne and Wear

DH5 9HW

FIXED ASSETS

Tangible assets

2

20

61

CURRENT ASSETS

Stocks

1,677,024

1,496,200

Debtors

1,482

1,885

Cash at bank and in hand

1,222,022

1,319,954

2,900,528

2,818,039

CREDITORS

Amounts falling due within one year

58,445

83,421

NET CURRENT ASSETS

2,842,083

2,734,618

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,842,103

2,734,679

CREDITORS

Amounts falling due after more than one year

3

419,665

419,657

NET ASSETS

2,422,438

2,315,022

CAPITAL AND RESERVES

Called up share capital

4

3,000

Profit and loss account

2,419,438

2,312,022

SHAREHOLDERS' FUNDS

2,422,438

2,315,022

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 21 June 2016 and were signed by:

A J Mason - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

After reviewing financial and other information available, the directors consider that the company has adequate resources to

continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in

preparing the financial statements.

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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small

company.

Turnover

Turnover represents the monies receivable for the sale of properties during the year.

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

-

15% on cost

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity.

Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in

progress.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheetbalance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more

tax, or a right to pay less tax, or a right to receive repayments of tax.

Deferred tax assets are recognised only to the extent that the director considers is more likely than not that there will be

suitable taxable profits from which the future reversal of the underlying timing difference can be deducted.

Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply in the periods in which

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

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

24,766

DEPRECIATION

At 1 June 2015

24,705

Charge for year

41

At 31 May 2016

24,746

NET BOOK VALUE

At 31 May 2016

20

At 31 May 2015

61

3.

CREDITORS

Creditors include an amount of £ 419,665 (31.5.15 - £ 419,657 ) for which security has been given.

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

31.5.16

31.5.15

£

Repayable otherwise than by instalments

419,665

419,657

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

3,000

Ordinary

1

3,000