Joseph Storey and Company Limited - Limited company - abbreviated - 11.0.0
Joseph Storey and Company Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 |
| FOR |
| JOSEPH STOREY AND COMPANY LIMITED |
| JOSEPH STOREY AND COMPANY LIMITED (REGISTERED NUMBER: 02974260) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 December 2013 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| JOSEPH STOREY AND COMPANY LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 December 2013 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| JOSEPH STOREY AND COMPANY LIMITED (REGISTERED NUMBER: 02974260) |
| ABBREVIATED BALANCE SHEET |
| 31 December 2013 |
| 2013 | 2012 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| JOSEPH STOREY AND COMPANY LIMITED (REGISTERED NUMBER: 02974260) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 December 2013 |
| The financial statements were approved by the Board of Directors on |
| JOSEPH STOREY AND COMPANY LIMITED (REGISTERED NUMBER: 02974260) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 December 2013 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Changes in accounting policies |
| Apart from the adoption of the amortisation policy regarding intangible assets, described below, there have been |
| no changes to the accounting policies of the company. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Intangible assets |
| Registration, Evaluation, Authorisation and restriction of Chemicals ("REACH") EU regulation costs are |
| capitalised. REACH costs are amortised over ten years using the straight line method of calculation commencing |
| in the year ended 31 December 2011. Having ceased its manufacturing activities this expenditure is no longer of |
| any value to the company and consequently has been written off in these accounts. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| 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 the profit and loss account in the period to which they relate. |
| JOSEPH STOREY AND COMPANY LIMITED (REGISTERED NUMBER: 02974260) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the Year Ended 31 December 2013 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2013 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2013 |
| AMORTISATION |
| At 1 January 2013 |
| Amortisation for year |
| At 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2013 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2013 |
| DEPRECIATION |
| At 1 January 2013 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| Impairments |
| At 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2013 | 2012 |
| value: | £ | £ |
| Ordinary | £1 |
| Redeemable preference shares | £1 |
| 720,000 | 720,000 |
| JOSEPH STOREY AND COMPANY LIMITED (REGISTERED NUMBER: 02974260) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the Year Ended 31 December 2013 |
| 5. | ULTIMATE PARENT COMPANY |
| The immediate parent company is Joseph Storey Limited. |
| The ultimate holding company and controlling party is Società Chimica Larderello S.p.A. |