J. Toole & Son Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01005654 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

for

J. Toole & Son Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J Toole

Mrs P Toole

SECRETARY:

Mrs P Toole

REGISTERED OFFICE:

Suite 1 Armcon Business Park

London Road South

Poynton

Stockport

Cheshire

SK12 1LQ

REGISTERED NUMBER:

01005654 (England and Wales)

ACCOUNTANTS:

Nolan James Limited

Chartered Accountants

Suite 1

Armcon Business Park

London Road South

Poynton

Cheshire

SK12 1LQ

FIXED ASSETS

Tangible assets

2

15,562

16,569

CURRENT ASSETS

Stocks

37,521

55,050

Debtors

15,217

29,605

Cash at bank and in hand

37,102

27,469

89,840

112,124

CREDITORS

Amounts falling due within one year

19,171

12,096

NET CURRENT ASSETS

70,669

100,028

TOTAL ASSETS LESS CURRENT
LIABILITIES

86,231

116,597

CAPITAL AND RESERVES

Called up share capital

3

100

Capital redemption reserve

25,489

Profit and loss account

60,642

91,008

SHAREHOLDERS' FUNDS

86,231

116,597

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

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

J Toole - 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.

Freehold property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 except that a deferred tax asset is only recognised to the extent that it is regarded as recoverable.

Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing

differences are expected to reverse.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

61,605

DEPRECIATION

At 1 July 2015

45,036

Charge for year

1,007

At 30 June 2016

46,043

NET BOOK VALUE

At 30 June 2016

15,562

At 30 June 2015

16,569

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

90

Ordinary

£1

90

10

Ordinary "A"

£1

10

100

4.	CONTROLLING PARTY

The company is controlled by Mr & Mrs J Toole by virtue of them each holding 50% of the issued ordinary

share capital.