A.K. Timms & Sons Limited - Accounts to registrar - small 17.1.1
A.K. Timms & Sons Limited - Accounts to registrar - small 17.1.1
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2016 |
| for |
| A.K. Timms & Sons Limited |
| A.K. Timms & Sons Limited (Registered number: 01376504) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| A.K. Timms & Sons Limited |
| Company Information |
| for the Year Ended 31 December 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants & Statutory Auditors |
| 2 Copperhouse Court |
| Caldecotte Business Park |
| Milton Keynes |
| Buckinghamshire |
| MK7 8NL |
| A.K. Timms & Sons Limited (Registered number: 01376504) |
| Balance Sheet |
| 31 December 2016 |
| 31.12.16 | 31.12.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| Investment property | 7 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non-distributable reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| A.K. Timms & Sons Limited (Registered number: 01376504) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| A.K. Timms & Sons Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| No depreciation has been charged on the freehold land included within freehold property. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| fair value is recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| A.K. Timms & Sons Limited (Registered number: 01376504) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 3. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Solar |
| property | machinery | panels |
| £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| A.K. Timms & Sons Limited (Registered number: 01376504) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Included in the cost of freehold property is freehold land of £80,441 (2015 - £80,441) which is not depreciated. |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 January 2016 |
| and 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 7. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2016 |
| Revaluations | 414,250 |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| A.K. Timms & Sons Limited (Registered number: 01376504) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 7. | INVESTMENT PROPERTY - continued |
| Cost or valuation at 31 December 2016 is represented by: |
| £ |
| Valuation in 2000 | 252,078 |
| Valuation in 2001 | 62,500 |
| Valuation in 2002 | 35,000 |
| Valuation in 2003 | 72,500 |
| Valuation in 2004 | 5,000 |
| Valuation in 2005 | 10,000 |
| Valuation in 2008 | 115,000 |
| Valuation in 2009 | 80,000 |
| Valuation in 2011 | 55,750 |
| Valuation in 2016 | 414,250 |
| Cost | 227,922 |
| 1,330,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Cost | 227,922 | 227,922 |
| Investment property was valued on an open market basis on 31 December 2016 by Robert Taylor, Estate Agents |
| . |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT | 59,986 | 54,441 |
| Other creditors |
| Directors' current accounts | 35,555 | 35,860 |
| Accrued expenses |
| A.K. Timms & Sons Limited (Registered number: 01376504) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Audit Report was unqualified and signed by Mr Darren Croucher (Senior Statutory Auditor) for and on |
| behalf of Crouchers Ltd, Chartered Accountants and Statutory Auditors, |
| . |
| 11. | CAPITAL COMMITMENTS |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| 12. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by the directors and their direct families who own 100% of the issued share capital. |