E.H. Crack & Sons Limited - Period Ending 2016-12-03

Registration number: 00526413

E.H. Crack & Sons Limited

Unaudited Abbreviated Accounts

for the Year Ended 3 December 2016
 

Fox Jennings Cullen
Accountants & Business Advisers
Tarn House
77 High Street
Yeadon
Leeds
West Yorkshire
LS19 7SP

E.H. Crack & Sons Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

E.H. Crack & Sons Limited
(Registration number: 00526413)
Abbreviated Balance Sheet at 3 December 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					-			28,752
Current assets
Stocks					125,599			-
Debtors					248			217
Cash at bank and in hand					246,177			252,288
					372,024			252,505
Creditors: Amounts falling due within one year					(359,327)			(352,135)
Net current assets/(liabilities)					12,697			(99,630)
Total assets less current liabilities					12,697			(70,878)
Provisions for liabilities					(4,188)			-
Net assets/(liabilities)					8,509			(70,878)
Capital and reserves
Called up share capital		3			4,500			4,500
Profit and loss account					4,009			(75,378)
Shareholders' funds/(deficit)					8,509			(70,878)

For the year ending 3 December 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 August 2017 and signed on its behalf by:

.........................................
P W Steer
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

E.H. Crack & Sons Limited
Notes to the Abbreviated Accounts for the Year Ended 3 December 2016
......... continued

1	Accounting policies

Basis of preparation

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).

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold property	5% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

E.H. Crack & Sons Limited
Notes to the Abbreviated Accounts for the Year Ended 3 December 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 4 December 2015		32,530			32,530
Appropriation to trading stock		(32,530)			(32,530)
At 3 December 2016		-			-
Depreciation
At 4 December 2015		3,778			3,778
Eliminated on appropriation		(3,778)			(3,778)
At 3 December 2016		-			-
Net book value
At 3 December 2016		-			-
At 3 December 2015		28,752			28,752

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		4,500			4,500			4,500			4,500

Page 3