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L J BUTLER AND SON LIMITED
REGISTERED NUMBER: 01974649
ABBREVIATED BALANCE SHEET
AS AT 31 JULY 2016
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 July 2016 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
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S Saville
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Page 1
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L J BUTLER AND SON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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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).
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The shareholders of the company will continue supporting the company to meet its working capital requirement and obligations. On this basis the directors consider it appropriate to prepare the financial statement on a going concern basis.
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Turnover comprises revenue recognised by the company in respect of funeral services rendered and are exempt from Vallue Added Tax.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Straight line over 50 years
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Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
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The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
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Page 2
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L J BUTLER AND SON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
2.TANGIBLE FIXED ASSETS
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At 1 August 2015 and 31 July 2016
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3.SHARE CAPITAL
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Allotted, called up and fully paid
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100 Ordinary shares of £1 each
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4.RELATED PARTY TRANSACTIONS
Included in other creditors is an interest free loan of £246,105 (2015: £244,713) owed to G G Saville and Son Limited, a company with common directors. The loan is repayable by mutual consent.
Page 3
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