Franklin and Mckenna Ltd - Accounts to registrar (filleted) - small 18.1
Franklin and Mckenna Ltd - Accounts to registrar (filleted) - small 18.1
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) |
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. |
FRANKLIN AND MCKENNA LTD (REGISTERED NUMBER: 09150067) |
ABRIDGED BALANCE SHEET - continued |
31 JULY 2017 |
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 |
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 |
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 |
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 |
Motor vehicles | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 August 2016 |
Additions |
At 31 July 2017 |
DEPRECIATION |
At 1 August 2016 |
Charge for year |
At 31 July 2017 |
NET BOOK VALUE |
At 31 July 2017 |
At 31 July 2016 |
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 |
DEPRECIATION |
At 1 August 2016 |
and 31 July 2017 |
NET BOOK VALUE |
At 31 July 2017 |
At 31 July 2016 |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Bank loans |
Hire purchase contracts | 4,166 | 6,166 |
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: | £ | £ |
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. |