A. C. Richards Limited Small abbreviated accounts

A.C. RICHARDS LIMITED - Company Information

FY Private Limited Company Company accounts 2017-04-11 2017-04-11 false true false false false false false false false false false false true true 2015-11-01 true xbrli:pure xbrli:shares iso4217:GBP 02754823 2015-11-01 2016-10-31 02754823 2016-10-31 02754823 2015-10-31 02754823 2015-10-31 02754823 uk-gaap:LandBuildings uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2015-11-01 2016-10-31 02754823 uk-gaap:FixturesFittings 2015-11-01 2016-10-31 02754823 uk-gaap:MotorVehicles 2015-11-01 2016-10-31 02754823 uk-gaap:OfficeEquipment 2015-11-01 2016-10-31 02754823 uk-bus:OrdinaryShareClass1 2015-11-01 2016-10-31 02754823 uk-bus:Director1 2015-11-01 2016-10-31 02754823 uk-gaap:AllSubsidiaries 2015-11-01 2016-10-31 02754823 uk-bus:OrdinaryShareClass1 2016-10-31 02754823 uk-bus:OrdinaryShareClass1 2015-10-31 02754823 uk-lang:English 2015-11-01 2016-10-31 02754823 uk-curr:PoundSterling 2015-11-01 2016-10-31

COMPANY REGISTRATION NUMBER 02754823

A. C. RICHARDS LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR

31 October 2016

A. C. RICHARDS LIMITED

ABBREVIATED BALANCE SHEET

31 October 2016

		2016		2015
Note		£	£	£	£
FIXED ASSETS	2
Tangible assets			154,005		178,200

CURRENT ASSETS

Stocks		114,844		114,058
Debtors		40,599		52,313
Cash at bank and in hand		59,997		63,530
		----------		----------
		215,440		229,901
CREDITORS: Amounts falling due within one year	3	137,305		111,522
		----------		----------
NET CURRENT ASSETS			78,135		118,379
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			232,140		296,579

PROVISIONS FOR LIABILITIES	15,829	20,149
	----------	----------
	216,311	276,430
	----------	----------

CAPITAL AND RESERVES

Called up equity share capital	4	100	58,000
Profit and loss account		216,211	218,430
		----------	----------
SHAREHOLDERS' FUNDS		216,311	276,430
		----------	----------

For the year ended 31st October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

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

These abbreviated accounts were approved and signed by the director and authorised for issue on 28 March 2017 .

A. Richards

Company Registration Number: 02754823

A. C. RICHARDS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31ST OCTOBER 2016

1. ACCOUNTING POLICIES

(a) Basis of accounting

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).

(b) Turnover

The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year, exclusive of Value Added Tax.

All fixed assets are initially recorded at cost.

(d) Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Property- 2% per annum straight line

Fixtures & Fittings & Equipment- 10% per annum reducing balance

Motor Vehicles- 15%/25% per annum reducing balance

Equipment- 15%/25% per annum reducing balance

(e) Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

(f) Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

(g) Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

(h) Deferred taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

(i) 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 the transaction. Exchange differences are taken into account in arriving at the operating profit.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1st November 2015	361,315
Additions	605
Disposals	( 21,000)
	----------
At 31st October 2016	340,920
	----------

DEPRECIATION

At 1st November 2015	183,115
Charge for year	21,183
On disposals	( 17,383)
	----------
At 31st October 2016	186,915
	----------

NET BOOK VALUE

At 31st October 2016	154,005
	----------

At 31st October 2015	178,200
	----------

3. CREDITORS: Amounts falling due within one year

The following liabilities disclosed under creditors falling due within one year are secured by the company:

	2016	2015
	£	£
Hire purchase agreements	-	3,856
	----	-------

4. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares (2015 - 58,000) of £ 1 each	100	100	58,000	58,000
	----	----	---------	---------