Thurston Fox & Hounds Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06474792 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2017

for

Thurston Fox & Hounds Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Ruffles

Mrs M Ruffles

SECRETARY:

Mrs M Ruffles

REGISTERED OFFICE:

Unit 4B

Boldero Road

Bury St Edmunds

Suffolk

IP32 7BS

REGISTERED NUMBER:

06474792 (England and Wales)

ACCOUNTANTS:

Sarah Place Accountants Ltd

Unit 4b

Boldero Road

Bury St Edmunds

Suffolk

IP32 7BS

FIXED ASSETS

Intangible assets

4

20,252

24,300

Property, plant and equipment

5

17,312

18,783

37,564

43,083

CURRENT ASSETS

Inventories

13,938

13,871

Debtors

6

5,077

3,438

Cash at bank and in hand

25,958

28,678

44,973

45,987

CREDITORS

Amounts falling due within one year

7

42,301

58,186

NET CURRENT ASSETS/(LIABILITIES)

2,672

(12,199

)

TOTAL ASSETS LESS CURRENT LIABILITIES

40,236

30,884

PROVISIONS FOR LIABILITIES

2,445

2,495

NET ASSETS

37,791

28,389

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

37,691

28,289

SHAREHOLDERS' FUNDS

37,791

28,389

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 9 August 2017 and were signed on its behalf by:

B Ruffles - Director

Mrs M Ruffles - Director

1.	STATUTORY INFORMATION

Thurston Fox & Hounds Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of fourteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

not provided

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Inventories 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2016

and 31 January 2017

56,684

AMORTISATION

At 1 February 2016

32,384

Charge for year

4,048

At 31 January 2017

36,432

NET BOOK VALUE

At 31 January 2017

20,252

At 31 January 2016

24,300

5.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2016

2,758

41,515

10,010

54,283

Additions

-

4,888

-

4,888

Disposals

-

(2,829

)

-

(2,829

)

At 31 January 2017

2,758

43,574

10,010

56,342

DEPRECIATION

At 1 February 2016

-

26,771

8,729

35,500

Charge for year

-

4,530

320

4,850

Eliminated on disposal

-

(1,320

)

-

(1,320

)

At 31 January 2017

-

29,981

9,049

39,030

NET BOOK VALUE

At 31 January 2017

2,758

13,593

961

17,312

At 31 January 2016

2,758

14,744

1,281

18,783

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade debtors

-

402

Prepayments

5,077

3,036

5,077

3,438

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade creditors

6,909

6,092

Tax

11,303

13,523

Social security and other taxes

1,176

1,604

VAT

14,895

14,175

Other creditors

995

18

Directors' current accounts

43

16,076

Accrued expenses

6,980

6,698

42,301

58,186

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2017 and

31 January 2016:

31.1.17

31.1.16

£

£

Mrs M Ruffles and B Ruffles

Balance outstanding at start of year

16,076

16,076

Amounts advanced

69,048

-

Amounts repaid

(85,081

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

43

16,076