Company Registration No. 00503058 (England and Wales)
FRANK ALLISON LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
FRANK ALLISON LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
FRANK ALLISON LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
30 November 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
331,807
306,507
Investments
2
219,068
207,934
550,875
514,441
Current assets
Stocks
12,440
8,564
Debtors
77,677
66,683
Cash at bank and in hand
308,449
371,274
398,566
446,521
Creditors: amounts falling due within one year
(291,188)
(262,205)
Net current assets
107,378
184,316
Total assets less current liabilities
658,253
698,757
Provisions for liabilities
(24,333)
(19,987)
633,920
678,770
Capital and reserves
Called up share capital
3
10,000
10,000
Share premium account
4,692
4,692
Other reserves
7,361
7,361
Profit and loss account
611,867
656,717
Shareholders' funds
633,920
678,770
FRANK ALLISON LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2016
30 November 2016
- 2 -
For the financial year ended 30 November 2016 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 7 August 2017
Mr F C Allison
Mr G C Allison
Director
Director
Company Registration No. 00503058
FRANK ALLISON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention 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
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
2% per annum straight line basis
Plant and machinery
12.5% per annum reducing balance
Motor vehicles
25% per annum reducing balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 December 2015
955,083
207,934
1,163,017
Additions
87,990
35,976
123,966
Disposals
(61,270)
(24,842)
(86,112)
At 30 November 2016
981,803
219,068
1,200,871
Depreciation
At 1 December 2015
648,576
-
648,576
On disposals
(53,375)
-
(53,375)
Charge for the year
54,795
-
54,795
At 30 November 2016
649,996
-
649,996
Net book value
At 30 November 2016
331,807
219,068
550,875
At 30 November 2015
306,507
207,934
514,441
FRANK ALLISON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10,000 Ordinary Shares of £1 each
10,000
10,000
4
Related party relationships and transactions
Other transactions with directors
The directors have provided the company with working capital in the form of interest free loans, being repayable on demand. These loans are included within 'Creditors: amounts due within one year'. As at 30th November 2016 the balances of these loans were as follows:
Mr F C Allison £85,718 (2015: £66,077)
Mr G C Allison £84,474 (2015: £64,833)
Mr J M Allison £84,642 (2015 £65,008)
Other Transactions
In addition to the loans from the directors, the company has also received a loan from another shareholder. As at 30th November 2016 the balance of this loan amounted to:
M Allison £15,752 (2015:£13,797)
This loan is on an interest free basis and is repayable on demand.