Findley & Son (Cooden) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06549106 (England and Wales)

FINDLEY & SON (COODEN) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

K B Findley

Mrs M E Findley

SECRETARY:

K B Findley

REGISTERED OFFICE:

215 Cooden Sea Road

Cooden

BEXHILL-ON-SEA

East Sussex

TN39 4TT

REGISTERED NUMBER:

06549106 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

20 Eversley Road

Bexhill-on-Sea

East Sussex

TN40 1HE

FIXED ASSETS

Intangible assets

4

34,375

37,500

Tangible assets

5

75,123

77,459

109,498

114,959

CURRENT ASSETS

Debtors

6

436

419

Cash at bank

48,119

23,812

48,555

24,231

CREDITORS

Amounts falling due within one year

7

128,733

107,271

NET CURRENT LIABILITIES

(80,178

)

(83,040

)

TOTAL ASSETS LESS CURRENT LIABILITIES

29,320

31,919

CREDITORS

Amounts falling due after more than one year

8

-

(18,810

)

PROVISIONS FOR LIABILITIES

(158

)

(253

)

NET ASSETS

29,162

12,856

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

29,062

12,756

SHAREHOLDERS' FUNDS

29,162

12,856

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

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

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 7th November 2017 and were signed on its behalf by:

K B Findley - Director

1.	STATUTORY INFORMATION

Findley & Son (Cooden) Ltd 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty 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.

Freehold property

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2016

and 31st March 2017

62,500

AMORTISATION

At 1st April 2016

25,000

Charge for year

3,125

At 31st March 2017

28,125

NET BOOK VALUE

At 31st March 2017

34,375

At 31st March 2016

37,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1st April 2016

and 31st March 2017

74,623

7,314

5,259

87,196

DEPRECIATION

At 1st April 2016

-

5,282

4,455

9,737

Charge for year

1,492

305

539

2,336

At 31st March 2017

1,492

5,587

4,994

12,073

NET BOOK VALUE

At 31st March 2017

73,131

1,727

265

75,123

At 31st March 2016

74,623

2,032

804

77,459

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Prepayments

436

419

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Tax

7,683

5,341

VAT

3,480

2,036

Monies held for clients

22,792

11,081

Directors' current accounts

87,867

81,982

Accrued expenses

6,911

6,831

128,733

107,271

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other loan

-

18,810

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.	RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE

In preparing the accounts, the company has considered whether in applying the accounting policies

required by FRS 102 the restatement of comparative items was required. No prior period

adjustments were necessary.