Majid And Sons (Service Stations) Limite - Abbreviated accounts 16.3
Majid And Sons (Service Stations) Limite - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 30 September 2016 |
| for |
| Majid And Sons (Service Stations) |
| Limited |
| Majid And Sons (Service Stations) |
| Limited (Registered number: 05188276) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 30 September 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Majid And Sons (Service Stations) |
| Limited |
| Company Information |
| for the Year Ended 30 September 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANT: |
| Chartered Certified Accountant |
| Majid And Sons (Service Stations) |
| Limited (Registered number: 05188276) |
| Abbreviated Balance Sheet |
| 30 September 2016 |
| 30.9.16 | 30.9.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Majid And Sons (Service Stations) |
| Limited (Registered number: 05188276) |
| Abbreviated Balance Sheet - continued |
| 30 September 2016 |
| The financial statements were approved by the Board of Directors on |
| Majid And Sons (Service Stations) |
| Limited (Registered number: 05188276) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 30 September 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| 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). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of businesses in 2004, 2007 and 2009, is |
| being amortised evenly over its estimated useful life of ten years in each case. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| No depreciation is provided on the freehold property because in the opinion of the directors the residual value is |
| in excess of the market value of the property as stated in the financial statements. The directors conduct annual |
| impairment reviews and have regular external revaluations. Where it is felt that the carrying valuation of the |
| freehold property would not exceed the open market value an appropriate periodic depreciation charge will be |
| made in the financial statements. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax arises as a result of including items of income and expenditure in taxation computation 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate. |
| Majid And Sons (Service Stations) |
| Limited (Registered number: 05188276) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 September 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 October 2015 |
| and 30 September 2016 |
| AMORTISATION |
| At 1 October 2015 |
| Amortisation for year |
| At 30 September 2016 |
| NET BOOK VALUE |
| At 30 September 2016 |
| At 30 September 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 October 2015 |
| Additions |
| At 30 September 2016 |
| DEPRECIATION |
| At 1 October 2015 |
| Charge for year |
| At 30 September 2016 |
| NET BOOK VALUE |
| At 30 September 2016 |
| At 30 September 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 30.9.16 | 30.9.15 |
| £ | £ |
| Repayable by instalments | 212,127 | 297,127 |
| Majid And Sons (Service Stations) |
| Limited (Registered number: 05188276) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 September 2016 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 30.9.16 | 30.9.15 |
| value: | £ | £ |
| Share capital 1 | £1 |
| 6. | RELATED PARTY DISCLOSURES |
| The petrol service stations operated by the company are rented from |
| 7. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is considered to be equally the entire issued share capital of the company. |
| 8. | SUBORDINATION OF DIRECTORS LOAN |
| Whilst this loan is shown as a current liability, the directors have formally sub-ordinated their loan to the claims |
| of all other creditors and have agreed with the company that no funds will be withdrawn that would prejudice the |
| company's ability to meet its other liabilities as they fall due. |