Moxom Joinery Limited - Period Ending 2016-12-31
Moxom Joinery Limited - Period Ending 2016-12-31
Company registration number:
for the Year Ended
Moxom Joinery Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Moxom Joinery Limited
(Registration number: 06767353)
Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
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Provisions for liabilities |
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Deferred tax liabilities |
(5,571) |
(6,770) |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss reserve |
( |
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Total equity |
( |
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Moxom Joinery Limited
(Registration number: 06767353)
Balance Sheet as at 31 December 2016
For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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Moxom Joinery Limited
Notes to the Financial Statements
for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in England & Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
This is the first year in which the financial statements have been prepared under FRS 102 Section 1A. No restatements were required to the prior year as a result of transition to FRS 102 Section 1A.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£).
Turnover recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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Moxom Joinery Limited
Notes to the Financial Statements
for the Year Ended 31 December 2016
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
15% reducing balance |
Motor vehicles |
25% reducing balance |
Plant and machinery |
15% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and net realisable value.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Moxom Joinery Limited
Notes to the Financial Statements
for the Year Ended 31 December 2016
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2016 |
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Additions |
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- |
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Disposals |
- |
- |
( |
( |
At 31 December 2016 |
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Depreciation |
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At 1 January 2016 |
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Charge for the year |
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At 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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Stocks |
2016 |
2015 |
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Raw materials |
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Debtors |
2016 |
2015 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Moxom Joinery Limited
Notes to the Financial Statements
for the Year Ended 31 December 2016
Creditors |
2016 |
2015 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Corporation tax |
23,571 |
28,260 |
Other creditors |
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Dividends |
Interim dividends paid
2016 |
2015 |
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Interim dividend of £ |
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Interim dividend of £ |
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Interim dividend of £ |
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Related party transactions |
Transactions with directors |
2016 |
At 1 January 2016 |
Advances to directors |
Re- payments by director |
Other payments made to company by director |
Written off |
Waived |
At 31 December 2016 |
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Mr J P Manley |
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Advances and repayments |
68 |
( |
- |
- |
- |
- |
( |
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Page 6
Moxom Joinery Limited
Notes to the Financial Statements
for the Year Ended 31 December 2016
2015 |
At 1 January 2015 |
Advances to directors |
Re- payments by director |
Other payments made to company by director |
Written off |
Waived |
At 31 December 2015 |
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Mr J P Manley |
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Advances and repayments |
(1,714) |
( |
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- |
- |
- |
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Page 7
Moxom Joinery Limited
Notes to the Financial Statements
for the Year Ended 31 December 2016
Summary of transactions with entities with joint control or significant interest
Mr J Manley and Mr K Moxom are directors of Moxoms (Dorset) Ltd, the balance outstanding to / (from) Moxoms (Dorset) Ltd at 31/12/16 was (£27,389) (2015 (£2,254)). This balance includes amounts invoiced on normal commercial terms, the outstanding balance being repayable on demand.
Mr J Manley and Mr K Moxom are directors of Moxom Bulders Ltd, the balance outstanding to Moxom Builders Ltd at 31/12/16 was £4,342 (2015 £6,102). This balance includes amounts invoiced on normal commercial terms, the outstanding balance being repayable on demand.
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