Company Registration No. 00460933 (England and Wales)
A. OPPENHEIMER & CO. LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
A. OPPENHEIMER & CO. LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
A. OPPENHEIMER & CO. LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
935,284
936,864
Investments
2
114,796
114,796
1,050,080
1,051,660
Current assets
Stocks
996,579
941,442
Debtors
123,223
129,617
Cash at bank and in hand
4,104
62,126
1,123,906
1,133,185
Creditors: amounts falling due within one year
3
(401,887)
(362,185)
Net current assets
722,019
771,000
Total assets less current liabilities
1,772,099
1,822,660
Creditors: amounts falling due after more than one year
4
(238,361)
(239,324)
1,533,738
1,583,336
Capital and reserves
Called up share capital
5
149,975
149,975
Revaluation reserve
450,206
453,063
Other reserves
158,025
158,025
Profit and loss account
775,532
822,273
Shareholders' funds
1,533,738
1,583,336
A. OPPENHEIMER & CO. LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 21 September 2016
Mr M A Adler
Director
Company Registration No. 00460933
A. OPPENHEIMER & CO. LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Patents
Trade marks are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
3.5% straight line
Plant and machinery
10% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
25% straight line
The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.7
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.8
Stock and work in progress
Stock is valued at the lower of cost and net realisable value.
1.9
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
Until 31 March 2002 the company operated a defined benefit pension scheme, at which point contributions to the scheme ceased and the assets were frozen. Details of the scheme are disclosed in the notes to the accounts.
A. OPPENHEIMER & CO. LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
1
Accounting policies
(Continued)
- 4 -
1.10
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost or valuation
At 1 January 2015
93,291
1,576,298
114,796
1,784,385
Additions
-
28,500
-
28,500
At 31 December 2015
93,291
1,604,798
114,796
1,812,885
Depreciation
At 1 January 2015
93,291
639,436
-
732,727
Charge for the year
-
30,078
-
30,078
At 31 December 2015
93,291
669,514
-
762,805
Net book value
At 31 December 2015
-
935,284
114,796
1,050,080
At 31 December 2014
-
936,864
114,796
1,051,660
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Participating interests
C. Gars Ltd
England
Ordinary
33.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
C. Gars Ltd
Trades in cigars
536,427
151,330
A. OPPENHEIMER & CO. LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 5 -
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £125,007 (2014 - £108,332).
4
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
91,382
86,753
The aggregate amount of creditors for which security has been given amounted to £238,361 (2014 - £239,324).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
142,975 Ordinary B shares of £1 each
142,975
142,975
7,000 Ordinary D shares of £1 each
7,000
7,000
149,975
149,975
The Ordinary D shares carry full capital and dividend rights but do not have any voting rights.