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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018 |
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A.J.BALL AND SONS LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018 |
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FOR |
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A.J.BALL AND SONS LTD |
A.J.BALL AND SONS LTD (REGISTERED NUMBER: 00638090) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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A.J.BALL AND SONS LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
71 New Dover Road |
Canterbury |
Kent |
CT1 3DZ |
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BANKERS: |
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47 High Street |
Broadstairs |
Kent |
CT10 1JN |
A.J.BALL AND SONS LTD (REGISTERED NUMBER: 00638090) |
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BALANCE SHEET |
31 JULY 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Revaluation reserve | 10 |
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Retained earnings | 10 | ( |
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SHAREHOLDERS' FUNDS |
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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. |
A.J.BALL AND SONS LTD (REGISTERED NUMBER: 00638090) |
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BALANCE SHEET - continued |
31 JULY 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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A.J.BALL AND SONS LTD (REGISTERED NUMBER: 00638090) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2018 |
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1. | STATUTORY INFORMATION |
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AJ Ball and Sons Ltd is a private company, limited by shares, registered in England and Wales. The company's |
registered number is 00638090 and the registered office address is 62 High Street, Broadstairs, Kent CT10 1JT. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Basic financial instruments |
Trade debtors and creditors, other debtors and creditors, including prepayments, accruals and amounts due to the |
directors are measured at transaction value. |
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Cash and cash equivalents are cash in hand and deposits held at the bank. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
A.J.BALL AND SONS LTD (REGISTERED NUMBER: 00638090) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 August 2017 |
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Additions |
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Disposals |
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At 31 July 2018 |
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DEPRECIATION |
At 1 August 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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At 31 July 2017 |
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Cost or valuation at 31 July 2018 is represented by: |
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Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 2018 | 430,000 | - | - | 430,000 |
Cost | - | 71,611 | 1,500 | 73,111 |
430,000 | 71,611 | 1,500 | 503,111 |
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If freehold land and buildings had not been revalued they would have been included at the following historical |
cost: |
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2018 | 2017 |
£ | £ |
Cost | 62,210 | 62,210 |
Aggregate depreciation | 42,105 | 40,861 |
A.J.BALL AND SONS LTD (REGISTERED NUMBER: 00638090) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Director's loan account | 99,083 | 86,520 |
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This loan is secured by a charge on the freehold property. |
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8. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax on revaluation | 18,507 | 19,698 |
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Deferred |
tax |
£ |
Balance at 1 August 2017 |
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Indexation allowance | (1,191 | ) |
Balance at 31 July 2018 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 19,500 | 19,500 |
A.J.BALL AND SONS LTD (REGISTERED NUMBER: 00638090) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2018 |
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10. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 August 2017 | ( |
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256,346 |
Deficit for the year | ( |
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Depreciation on revaluation | 7,356 | (7,356 | ) | - |
Deferred tax on revaluation | (1,189 | ) | 1,189 | - |
At 31 July 2018 | ( |
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181,324 |
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11. | RELATED PARTY DISCLOSURES |
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An amount of £132,617 was due to the directors on their loans to the company as at 31st July 2018 (2017: |
£110,105). |
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Interest was not paid on the loan from Mr N.A. Ball during the year and the loans from Messrs E W Ball and G |
N Ball are provided interest free. All directors loans are repayable upon demand. |