Fred Stevens Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 02818626 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016

FOR

FRED STEVENS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J J Baker MBIE, DIP.FD, MBIFD

D J Melsome

SECRETARY:

D J Melsome

REGISTERED OFFICE:

Newmarket Road

Nailsworth

Gloucestershire

GL6

ODQ

REGISTERED NUMBER:

02818626 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Intangible assets

2

16,747

21,900

Tangible assets

3

99,534

118,703

116,281

140,603

CURRENT ASSETS

Stocks

1,870

3,785

Debtors

28,102

24,091

Cash at bank and in hand

138,246

107,291

168,218

135,167

CREDITORS

Amounts falling due within one year

97,530

96,301

NET CURRENT ASSETS

70,688

38,866

TOTAL ASSETS LESS CURRENT
LIABILITIES

186,969

179,469

PROVISIONS FOR LIABILITIES

14,459

17,197

NET ASSETS

172,510

162,272

CAPITAL AND RESERVES

Called up share capital

4

150,360

Profit and loss account

22,150

11,912

SHAREHOLDERS' FUNDS

172,510

162,272

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 17 March 2017 and were signed on its
behalf by:

J J Baker MBIE, DIP.FD, MBIFD - 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).

Going concern

There are no material uncertainties that may cast significant doubt about the ability of the company to

continue as a going concern.

Turnover

Revenue represents the invoiced value of goods sold and services provided during the period, stated

net of Value Added Tax.

Revenue from the principal activity of funeral services is recognised when the service and goods have

been provided and all obligations to the customers have been fulfilled, unless management has doubts

as to the recoverability of fees.

Goodwill

Goodwill purchased in December 1999 is being amortised over 20 years. Because of local and family

connections, well established funeral directors have traditionally attracted significant goodwill values,

more recently enhanced with an increasing use of pre-paid funeral plans. The directors are of the

opinion that the goodwill purchased in December 1999 has a useful economic life of over 20 years and

that, since that date, the current value increasingly exceeds the net book value.

Tangible fixed assets

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

Leasehold property

-

5% on cost

Furniture and equipment

-

at varying rates on cost

Motor vehicles

-

at varying rates 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.

Pension costs

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

103,057

AMORTISATION

At 1 September 2015

81,157

Amortisation for year

5,153

At 31 August 2016

86,310

NET BOOK VALUE

At 31 August 2016

16,747

At 31 August 2015

21,900

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

261,795

DEPRECIATION

At 1 September 2015

143,092

Charge for year

19,169

At 31 August 2016

162,261

NET BOOK VALUE

At 31 August 2016

99,534

At 31 August 2015

118,703

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

150,360

Ordinary

£1

150,360