Route 16 Trading Limited - Period Ending 2017-01-31
Route 16 Trading Limited - Period Ending 2017-01-31
Registration number:
Route 16 Trading Limited
for the Year Ended 31 January 2017
4th Floor, Joynes House
New Road
Gravesend
Kent
DA11 0AT
Route 16 Trading Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Route 16 Trading Limited
(Registration number: 03499196)
Balance Sheet as at 31 January 2017
Note |
2017 |
2016 |
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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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- |
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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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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 January 2017 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr I C Gay
Director
Page 1 |
Route 16 Trading Limited
Notes to the Financial Statements for the Year Ended 31 January 2017
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.
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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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 |
Land and buildings |
Straight line over fifty years |
Plant and machinery |
25% Reducing balance basis |
Fixtures and fittings |
25% Reducing balance basis |
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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Page 2 |
Route 16 Trading Limited
Notes to the Financial Statements for the Year Ended 31 January 2017
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
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.
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 February 2016 |
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At 31 January 2017 |
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Depreciation |
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At 1 February 2016 |
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Charge for the year |
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At 31 January 2017 |
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Carrying amount |
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At 31 January 2017 |
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At 31 January 2016 |
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Included within the net book value of land and buildings above is £360,839 (2016 - £369,328) in respect of freehold land and buildings.
Page 3 |
Route 16 Trading Limited
Notes to the Financial Statements for the Year Ended 31 January 2017
Stocks |
2017 |
2016 |
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Other inventories |
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- |
Debtors |
2017 |
2016 |
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Trade debtors |
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Other receivables |
12,267 |
9,823 |
Other prepayments |
437 |
- |
Accrued income |
1,550 |
1,550 |
Total current trade and other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other payables |
460,504 |
431,654 |
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Accrued expenses |
1,101 |
1,108 |
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Transition to FRS 102 |
Page 4 |