Batchelor Coop Ltd - Period Ending 2016-09-30

Registration number: 02739117

Batchelor Coop Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Batchelor Coop Limited Chartered Accountants
The New Barn Mill Lane Eastry Sandwich Kent CT13 0JW

Batchelor Coop Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Batchelor Coop Ltd
(Registration number: 02739117)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					85,517			101,516
Tangible fixed assets					25,965			30,366
					111,482			131,882
Current assets
Stocks					73,157			72,817
Debtors					41,866			22,260
Cash at bank and in hand					250,688			251,640
					365,711			346,717
Creditors: Amounts falling due within one year					(131,434)			(126,351)
Net current assets					234,277			220,366
Total assets less current liabilities					345,759			352,248
Creditors: Amounts falling due after more than one year					(148,725)			(155,320)
Provisions for liabilities					(4,038)			(3,933)
Net assets					192,996			192,995
Capital and reserves
Called up share capital		3			204			203
Profit and loss account					192,792			192,792
Shareholders' funds					192,996			192,995

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Batchelor Coop Ltd
(Registration number: 02739117)
Abbreviated Balance Sheet at 30 September 2016......... continued

For the year ending 30 September 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 directors acknowledge their 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 Board on 11 April 2017 and signed on its behalf by:

.........................................
RC Coop
Director

.........................................
MA Batchelor
Director

.........................................
MJ Sole
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Batchelor Coop Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 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.

Revenue recognition

Revenue is recognised when goods are supplied, irrespective of the date the goods were invoiced.

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	5% straight line over 20 years

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
Office equipment	25% on written down value
Leasehold buildings	Over lease term
Fixtures and fittings	15% on written down value
Computer equipment	25% straight line over 4 years

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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

Batchelor Coop Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		295,500			86,996			382,496
Additions		-			6,064			6,064
Disposals		-			(550)			(550)
At 30 September 2016		295,500			92,510			388,010
Depreciation
At 1 October 2015		193,984			56,630			250,614
Charge for the year		15,999			9,915			25,914
At 30 September 2016		209,983			66,545			276,528
Net book value
At 30 September 2016		85,517			25,965			111,482
At 30 September 2015		101,516			30,366			131,882

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
100 Ordinary A shares of £1 each		100			100			100			100
100 Ordinary B Non-Voting shares of £1 each		100			100			100			100
4 Ordinary C - F Non-Voting shares of £1 each		4			4			3			3
		204			204			203			203

New shares allotted

During the year 1 Ordinary F Non-Voting Share having a nominal value of £1 was allotted for a consideration of £1 .

Page 4

Batchelor Coop Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016......... continued

4	Related party transactions

Dividends

During the year the company voted dividends as shown below: £86,927 (2015 - £85,797) to Mr RC Coop £95,743 (2015 - £97,517) to Mr MA Batchelor £70,968 (2015 - £74,011) to MJ Sole

Other related party transactions

During the year the company made the following related party transactions:

RC Coop
(Director's loan account)
At the balance sheet date the amount due to RC Coop was £67,308 (2015 - £64,685).

MA Batchelor
(Director's loan account)
At the balance sheet date the amount due to MA Batchelor was £55,167 (2015 - £57,276)

MJ Sole
(Director's loan account)
At the balance sheet date the amount due to MJ Sole was £26,250 (2015 - £33,359)

Batchelor Coop Limited rents property from Mr & Mrs R Coop (a director-shareholder of the company respectively). During the year the company paid rent totalling £15,000 (2015 - £15,000)

Page 5