E J Rose Automatics Limited - Period Ending 2016-11-30

Registration number: 7834803

E J Rose Automatics Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2016
 

Seals King & Co. Limited
Chartered Accountants
17 Brunts Street
Mansfield
Nottinghamshire
NG18 1AX

E J Rose Automatics Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

  Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
  E J Rose Automatics Limited
  for the Year Ended 30 November 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of E J Rose Automatics Limited for the year ended 30 November 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of E J Rose Automatics Limited, as a body, in accordance with the terms of our engagement letterdated 18 November 2011. Our work has been undertaken solely to prepare for your approval the accounts of E J Rose Automatics Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E J Rose Automatics Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that E J Rose Automatics Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of E J Rose Automatics Limited. You consider that E J Rose Automatics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of E J Rose Automatics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Seals King & Co. Limited
Chartered Accountants
17 Brunts Street
Mansfield
Nottinghamshire
NG18 1AX

22 March 2017

Page 1

E J Rose Automatics Limited
(Registration number: 7834803)
Abbreviated Balance Sheet at 30 November 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					5,250			6,300
Tangible fixed assets					3,110			3,897
					8,360			10,197
Current assets
Stocks					2,000			2,000
Debtors					8,579			5,822
Cash at bank and in hand					30,326			40,437
					40,905			48,259
Creditors: Amounts falling due within one year					(41,781)			(34,148)
Net current (liabilities)/assets					(876)			14,111
Total assets less current liabilities					7,484			24,308
Provisions for liabilities					(122)			(170)
Net assets					7,362			24,138
Capital and reserves
Called up share capital		3			10			10
Profit and loss account					7,352			24,128
Shareholders' funds					7,362			24,138

For the year ending 30 November 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 22 March 2017

.........................................
Mr E J Rose
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

E J Rose Automatics Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing value
Motor vehicles	25% reducing value
Office equipment	25% reducing value

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

E J Rose Automatics Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 December 2015		10,500			9,417			19,917
Additions		-			250			250
At 30 November 2016		10,500			9,667			20,167
Depreciation
At 1 December 2015		4,200			5,520			9,720
Charge for the year		1,050			1,037			2,087
At 30 November 2016		5,250			6,557			11,807
Net book value
At 30 November 2016		5,250			3,110			8,360
At 30 November 2015		6,300			3,897			10,197

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		10			10			10			10

4

Control

The company is controlled by the director who has an interest in 100% of the called up share capital.

Page 4