JAMES TODD & CO LIMITED - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07350649 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

JAMES TODD & CO LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K A Coppard

D L Shetly

M J Daniels

REGISTERED OFFICE:

1&2 The Barn

Oldwick

West Stoke Road

Chichester

West Sussex

PO18 9AA

REGISTERED NUMBER:

07350649 (England and Wales)

ACCOUNTANTS:

James Todd & Co Limited

1 & 2 The Barn

Oldwick

West Stoke Road

Chichester

West Sussex

PO18 9AA

FIXED ASSETS

Intangible assets

4

681,024

702,000

Tangible assets

5

16,987

16,295

698,011

718,295

CURRENT ASSETS

Work in progress

262,003

230,188

Debtors

404,196

217,863

Cash at bank and in hand

40,337

5,456

706,536

453,507

CREDITORS

Amounts falling due within one year

535,269

293,363

NET CURRENT ASSETS

171,267

160,144

TOTAL ASSETS LESS CURRENT LIABILITIES

869,278

878,439

CREDITORS

Amounts falling due after more than one year

-

135,305

NET ASSETS

869,278

743,134

CAPITAL AND RESERVES

Called up share capital

6

11

11

Retained earnings

869,267

743,123

SHAREHOLDERS' FUNDS

869,278

743,134

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 October 2017 and were signed on its behalf by:

M J Daniels - Director

1.	STATUTORY INFORMATION

JAMES TODD & CO 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, and are in sterling (£), which is the functional

currency of the company. Monetary amounts in these financial statements are rounded to the

nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that

the company has adequate resources to continue in operational existence for the foreseeable

future. The directors therefore adopt the going concern basis of accounting in preparing the financial

statements.

Turnover

Turnover represents the amounts derived from the provision of goods and services falling within the

company's ordinary activities, after deduction of trade discounts, value added tax and any other

other taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty five 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.

Office Equipment

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to

determine whether there is any indication of their values being impaired. Any impairment losses are

then treated as an expense during the period.

Stocks and work in progress

Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making

due allowance for obsolete and slow-moving items. Cost includes all direct expenditure and a

proportion of fixed and variable overheads where appropriate.

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 23 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

900,000

Additions

15,024

At 31 March 2017

915,024

AMORTISATION

At 1 April 2016

198,000

Amortisation for year

36,000

At 31 March 2017

234,000

NET BOOK VALUE

At 31 March 2017

681,024

At 31 March 2016

702,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

72,039

Additions

5,930

At 31 March 2017

77,969

DEPRECIATION

At 1 April 2016

55,744

Charge for year

5,238

At 31 March 2017

60,982

NET BOOK VALUE

At 31 March 2017

16,987

At 31 March 2016

16,295

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

10

Ordinary 'A'

£1

10

10

1

Ordinary 'B'

£1

1

1

11

11