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REGISTERED NUMBER:
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A.A. FRANCES AND SONS LIMITED |
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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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REGISTERED NUMBER:
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A.A. FRANCES AND SONS LIMITED |
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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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A.A. FRANCES AND SONS LIMITED (REGISTERED NUMBER: 01875174) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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A.A. FRANCES AND SONS LIMITED |
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Company Information |
for the Year Ended 30 June 2017 |
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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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59-61 Charlotte Street |
St Pauls Square |
Birmingham |
West Midlands |
B3 1PX |
A.A. FRANCES AND SONS LIMITED (REGISTERED NUMBER: 01875174) |
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Balance Sheet |
30 June 2017 |
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2017 | 2016 |
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 ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
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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.A. FRANCES AND SONS LIMITED (REGISTERED NUMBER: 01875174) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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A.A. Frances And Sons Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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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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Short leasehold | - |
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Tools and equipment | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks and service contracts |
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Service contracts are accounted for under the stage of completion method and included at the contract value. |
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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. |
A.A. FRANCES AND SONS LIMITED (REGISTERED NUMBER: 01875174) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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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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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
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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 |
Short | Tools and | Motor | Computer |
leasehold | equipment | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2016 |
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Disposals |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Tax |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 10,379 | 39,026 |
Directors' current accounts | 5,000 | 78,000 |
Accrued expenses |
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A.A. FRANCES AND SONS LIMITED (REGISTERED NUMBER: 01875174) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
In more than five years |
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8. | ULTIMATE CONTROLLING PARTY |
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Mr and Mrs Crompton are considered to be the controlling parties by virtue of the majority shareholding in the |
issued share capital of the company. |