T.Norris (Industries) Limited - Accounts to registrar - small 17.2

T.NORRIS(INDUSTRIES)LIMITED - Company Information

IRIS Accounts Production v17.2.1.52 00443535 Board of Directors 1.1.16 31.12.16 31.12.16 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure004435352015-12-31004435352016-12-31004435352016-01-012016-12-31004435352014-12-31004435352015-01-012015-12-31004435352015-12-3100443535ns15:EnglandWales2016-01-012016-12-3100443535ns14:PoundSterling2016-01-012016-12-3100443535ns10:Director12016-01-012016-12-3100443535ns10:PrivateLimitedCompanyLtd2016-01-012016-12-3100443535ns10:SmallEntities2016-01-012016-12-3100443535ns10:AuditExempt-NoAccountantsReport2016-01-012016-12-3100443535ns10:SmallCompaniesRegimeForDirectorsReport2016-01-012016-12-3100443535ns10:SmallCompaniesRegimeForAccounts2016-01-012016-12-3100443535ns10:FullAccounts2016-01-012016-12-3100443535ns10:OrdinaryShareClass12016-01-012016-12-3100443535ns10:Director22016-01-012016-12-3100443535ns10:CompanySecretary12016-01-012016-12-3100443535ns10:RegisteredOffice2016-01-012016-12-3100443535ns5:CurrentFinancialInstruments2016-12-3100443535ns5:CurrentFinancialInstruments2015-12-3100443535ns5:Non-currentFinancialInstruments2016-12-3100443535ns5:Non-currentFinancialInstruments2015-12-3100443535ns5:ShareCapital2016-12-3100443535ns5:ShareCapital2015-12-3100443535ns5:RetainedEarningsAccumulatedLosses2016-12-3100443535ns5:RetainedEarningsAccumulatedLosses2015-12-3100443535ns5:LandBuildings2016-01-012016-12-3100443535ns5:PlantMachinery2016-01-012016-12-3100443535ns5:LandBuildings2015-12-3100443535ns5:PlantMachinery2015-12-3100443535ns5:LandBuildings2016-12-3100443535ns5:PlantMachinery2016-12-3100443535ns5:LandBuildings2015-12-3100443535ns5:PlantMachinery2015-12-3100443535ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-12-3100443535ns5:CurrentFinancialInstrumentsns5:WithinOneYear2015-12-3100443535ns5:Secured2016-12-3100443535ns5:Secured2015-12-3100443535ns10:OrdinaryShareClass12016-12-3100443535ns5:RetainedEarningsAccumulatedLosses2015-12-3100443535ns5:RetainedEarningsAccumulatedLosses2016-01-012016-12-3100443535ns10:Director112015-12-3100443535ns10:Director112014-12-3100443535ns10:Director112016-01-012016-12-3100443535ns10:Director112015-01-012015-12-3100443535ns10:Director112016-12-3100443535ns10:Director112015-12-31

REGISTERED NUMBER: 00443535 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

T.NORRIS (INDUSTRIES) LIMITED

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

Mr J P Norris

Mrs J Norris

SECRETARY:

Mrs J Norris

REGISTERED OFFICE:

26 Great Queen Street

London

WC2B 5BB

REGISTERED NUMBER:

00443535 (England and Wales)

ACCOUNTANTS:

LEES

Chartered Certified Accountants

Puerorum House

1st Floor

26 Great Queen Street

London

WC2B 5BL

FIXED ASSETS

Tangible assets

4,784

5,467

CURRENT ASSETS

Stocks

71,670

68,258

Debtors

14,201

13,555

Cash in hand

31,845

34,089

117,716

115,902

CREDITORS

Amounts falling due within one year

45,946

47,846

NET CURRENT ASSETS

71,770

68,056

TOTAL ASSETS LESS CURRENT
LIABILITIES

76,554

73,523

CREDITORS

Amounts falling due after more than one
year

(7,048

)

(13,333

)

PROVISIONS FOR LIABILITIES

(957

)

(1,093

)

NET ASSETS

68,549

59,097

CAPITAL AND RESERVES

Called up share capital

3,000

Retained earnings

65,549

56,097

SHAREHOLDERS' FUNDS

68,549

59,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 1 September 2017 and were signed on its behalf
by:

Mr J P Norris - Director

1.	STATUTORY INFORMATION

T.Norris (Industries) 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

Turnover represents the fair value of services provided during the year. Turnover is recognised as contract

activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be

recoverable from clients. Turnover excludes value added tax. Unbilled turnover on individual contracts is

included as accrued income within other debtors.

Tangible fixed assets

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

Land and buildings

5% on reducing balance

Plant and machinery etc

25% on reducing balance and 10% on reducing balance

No depreciation is provided on the Freehold Land.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

The tax charge represents the aggregate amount of current tax and deferred tax recognised in the reporting

period.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates

enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of

previous periods.

A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of

transactions and events recognised in the financial statements of current and previous periods.

Deferred tax arises from timing differences that are differences between taxable profits and the company's

results as stated in the financial statements. Timing differences result from inclusion of income and expenses in

tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions.

Unrelieved tax losses and other deferred tax assets are only recognised to the extend that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the

reporting date and that are expected to apply to the reversal of the timing differences. Deferred tax relating to

land and investment properties that is measured at fair value is measured using the tax rates and allowances

that apply to the sale of the asset.

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.

EMPLOYEES

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

COST

At 1 January 2016

and 31 December 2016

12,688

26,083

38,771

DEPRECIATION

At 1 January 2016

10,980

22,324

33,304

Charge for year

647

683

At 31 December 2016

11,016

22,971

33,987

NET BOOK VALUE

At 31 December 2016

1,672

3,112

4,784

At 31 December 2015

1,708

3,759

5,467

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

Trade debtors

8,333

7,776

Amounts owed by participating interests

439

Other debtors

5,429

5,340

14,201

13,555

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

Bank loans and overdrafts

6,667

Trade creditors

19,864

18,568

Taxation and social security

14,172

11,312

Other creditors

5,243

11,299

45,946

47,846

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

Bank loans

7,048

13,333

8.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

Bank loans

13,715

20,000

The loan is guaranteed by the directors, Mr J P Norris and Mrs J Norris.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

3,000

Ordinary

£1

3,000

10.

RESERVES

Retained

earnings

At 1 January 2016

56,097

Profit for the year

9,452

At 31 December 2016

65,549

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

2016

2015

Mr J P Norris

Balance outstanding at start of year

Amounts advanced

4,000

Amounts repaid

(4,000

)

Amounts written off

Amounts waived

Balance outstanding at end of year

The loan is unsecured, interest free and repayable on demand.

In addition, the bank loan of £13,715 is guaranteed by the directors, Mr J P Norris and Mrs J Norris.

12.	RELATED PARTY DISCLOSURES

T Norris Engineering Limited

Included in debtors is an amount of £439 (2015: £439) owed to the company by T Norris Engineering Limited, a

company wholly owned by the director, Mr J P Norris.

Ms H R Brown

As at 1 January 2016, amount due to Ms H R Brown, mother of director, Mrs J Norris, amounting to £9,000.

During the year, the company had repaid £9,000 (2015 - £1,000). At 31 December 2016, the balance owed to

Ms H R Brown was £Nil (2015 - £9,000).

The loan is interest free, unsecured and payable on demand.

13.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Mr J P Norris.