R & S Marton Limited - Abbreviated accounts 16.3
R & S Marton Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| FOR |
| R & S MARTON LIMITED |
| R & S MARTON LIMITED (REGISTERED NUMBER: 04862645) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| R & S MARTON LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| R & S MARTON LIMITED (REGISTERED NUMBER: 04862645) |
| ABBREVIATED BALANCE SHEET |
| 31 OCTOBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Investments |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT 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 director acknowledges his 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. |
| R & S MARTON LIMITED (REGISTERED NUMBER: 04862645) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 OCTOBER 2016 |
| The financial statements were approved by the director on |
| R & S MARTON LIMITED (REGISTERED NUMBER: 04862645) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements are prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small |
| company. |
| Turnover |
| Turnover represents amounts receivable for goods and services net of VAT and trade discounts. |
| Goodwill |
| Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 |
| years.This length of time is presumed to be the maximum useful life of goodwill because it is difficult to |
| make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full |
| financial year following each acquisition and subsequently as and when necessary if circumstances |
| emerge that indicate that the carrying value may not be recoverable. |
| Tangible fixed assets and depreciation |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to |
| write off the cost less estimated residual value of each asset over its expected useful life, as follows: |
| Property improvements | 10% straight line |
| Plant and machinery | 20% reducing balance |
| Fixtures, fittings and equipment | 25% reducing balance |
| Motor vehicles | 25% reducing balance |
| Other assets | 25% reducing balance |
| Stock |
| Stock is valued at the lower of cost and net realisable value. |
| Deferred tax |
| Deferred taxation is provided in full in respect of taxation deferred by timing differences between the |
| treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been |
| discounted. |
| Leasing and hire purchase |
| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and |
| depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance |
| charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account |
| so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
| Rentals payable under operating leases are charged against income on a straight line basis over the lease term. |
| Revenue recognition |
| Revenue is recognised as earned when, and to the extent that, the company obtains the right to |
| consideration in exchange for the supply of the goods and services that it provides. It is measured at the |
| fair value of the right to consideration, which represents amounts chargeable to customers but excludes |
| value added tax. |
| R & S MARTON LIMITED (REGISTERED NUMBER: 04862645) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| 1. | ACCOUNTING POLICIES - continued |
| Government grants |
| Government grants are recognised in the profit and loss account of the period in respect of which the |
| grant is received. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 November 2015 |
| and 31 October 2016 |
| AMORTISATION |
| At 1 November 2015 |
| and 31 October 2016 |
| NET BOOK VALUE |
| At 31 October 2016 |
| At 31 October 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 November 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 October 2016 |
| DEPRECIATION |
| At 1 November 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2016 |
| NET BOOK VALUE |
| At 31 October 2016 |
| At 31 October 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| R & S MARTON LIMITED (REGISTERED NUMBER: 04862645) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| 4. | CREDITORS - continued |
| They also include the following debts falling due in more than five years: |
| 2016 | 2015 |
| £ | £ |
| Repayable by instalments | 30,658 | - |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| Ordinary B | £1 |
| Ordinary C | £1 |
| 110 | 110 |
| 6. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 October 2016 and 31 October 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| The above loan is unsecured and repayable to Mr S R Marton on demand. Interest is charged at 3.25% when the loan is |
| overdrawn by more than £10,000. Interest charged in the year totalled £13 (2015: Nil). |
| The maximum amount the loan was overdrawn in the year was £10,568 (2015: not overdrawn). |
| The company's bank loan and overdraft are secured on land owned by the director, Mr S R Marton. |