Franklin and Mckenna Ltd - Accounts to registrar (filleted) - small 18.1

Franklin and Mckenna Ltd - Accounts to registrar (filleted) - small 18.1


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REGISTERED NUMBER: 09150067 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

FRANKLIN AND MCKENNA LTD

FRANKLIN AND MCKENNA LTD (REGISTERED NUMBER: 09150067)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FRANKLIN AND MCKENNA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2017







DIRECTORS: L W P Franklin
M S Franklin
M P Franklin





SECRETARY: M S Franklin





REGISTERED OFFICE: Parsonage Barn
School Lane
Broomfield
Chelmsford
Essex
CM1 7DS





REGISTERED NUMBER: 09150067 (England and Wales)





ACCOUNTANTS: Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ

FRANKLIN AND MCKENNA LTD (REGISTERED NUMBER: 09150067)

ABRIDGED BALANCE SHEET
31 JULY 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,738 13,203

CURRENT ASSETS
Stocks - 203,929
Debtors - 10,441
Cash at bank and in hand 191,509 5,948
191,509 220,318
CREDITORS
Amounts falling due within one year 195,462 249,220
NET CURRENT LIABILITIES (3,953 ) (28,902 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,785

(15,699

)

CREDITORS
Amounts falling due after more than one
year

(2,166

)

(4,166

)

PROVISIONS FOR LIABILITIES (2,150 ) -
NET ASSETS/(LIABILITIES) 2,469 (19,865 )

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 2,369 (19,965 )
SHAREHOLDERS' FUNDS 2,469 (19,865 )

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

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

FRANKLIN AND MCKENNA LTD (REGISTERED NUMBER: 09150067)

ABRIDGED BALANCE SHEET - continued
31 JULY 2017


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 Balance Sheet for the year ended 31 July 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 30 April 2018 and were signed on its behalf by:





M P Franklin - Director


FRANKLIN AND MCKENNA LTD (REGISTERED NUMBER: 09150067)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2017

1. STATUTORY INFORMATION

Franklin and Mckenna 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.

The company's place of business is in Chelmsford and differs to its registered office.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress (in respect of land and properties under construction) are valued at the lower of
cost and net realisable value. Cost comprises all direct expenditure associated with the properties.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

FRANKLIN AND MCKENNA LTD (REGISTERED NUMBER: 09150067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2016 17,604
Additions 1,115
At 31 July 2017 18,719
DEPRECIATION
At 1 August 2016 4,401
Charge for year 3,580
At 31 July 2017 7,981
NET BOOK VALUE
At 31 July 2017 10,738
At 31 July 2016 13,203

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2016
and 31 July 2017 15,104
DEPRECIATION
At 1 August 2016
and 31 July 2017 3,776
NET BOOK VALUE
At 31 July 2017 11,328
At 31 July 2016 11,328

5. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank loans - 85,577
Hire purchase contracts 4,166 6,166
4,166 91,743

Hire purchase liabilities are secured on the assets to which they relate.

FRANKLIN AND MCKENNA LTD (REGISTERED NUMBER: 09150067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2017

6. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
100 Ordinary 1 100 100

7. FIRST YEAR ADOPTION NOTE

The year ended 31 July 2017 represents the first year in which the company has reported under FRS 102.

In order to adopt the requirements of the new reporting standards, the comparative results have been restated in
accordance with FRS 102. The company's effective date of transition is therefore 1 August 2015.

Although the directors have retrospectively reviewed the company's reported figures since transition, there were
no adjustments required under the new accounting standards. All of the company's existing accounting policies
and estimates were in line with the requirements of the new standards so no further revisions were necessary.
Accordingly the company has not presented a reconciliation of changes in equity or profit and loss, as there are
none.

In all other respects, the company's reported financial statements adopt the new reporting standards in full.