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Abbreviated Unaudited Accounts for the Year Ended 31 March 2016 |
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J M Posner Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 March 2016 |
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for |
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J M Posner Limited |
J M Posner Limited (Registered number: 06800355) |
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Contents of the Abbreviated Accounts |
for the year ended 31 March 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
J M Posner Limited |
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Company Information |
for the year ended 31 March 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
& Reporting Accountants |
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J M Posner Limited (Registered number: 06800355) |
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Abbreviated Balance Sheet |
31 March 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
4 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Profit and loss account |
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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. |
J M Posner Limited (Registered number: 06800355) |
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Abbreviated Balance Sheet - continued |
31 March 2016 |
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The financial statements were approved by the Board of Directors on
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J M Posner Limited (Registered number: 06800355) |
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Notes to the Abbreviated Accounts |
for the year ended 31 March 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Intangible assets |
Patents - The patents are amortised over a period of ten years. |
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Tangible fixed assets |
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Short leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment & website costs | - |
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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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Deferred tax |
The charge for taxation takes into account taxation deferred as a result of timing differences between the |
treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in |
respect of all timing differences that have originated but not reversed at the balance sheet date. However, |
deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that |
there will be suitable taxable profits from which the future reversal of the underlying timing differences can be |
deducted. In accordance with FRSSE April 2008, deferred taxation is measured on a non-discounted basis at the |
tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and |
laws enacted at the balance sheet date. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, |
as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that |
evidences a residual interest in the assets of the company after deducting all of its liabilities. |
J M Posner Limited (Registered number: 06800355) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 31 March 2016 |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2015 |
and 31 March 2016 |
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AMORTISATION |
At 1 April 2015 |
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Amortisation for year |
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At 31 March 2016 |
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NET BOOK VALUE |
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At 31 March 2016 |
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At 31 March 2015 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2015 |
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Additions |
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Disposals | ( |
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At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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4. | CREDITORS |
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Creditors include an amount of £
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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A Ordinary | £1 |
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120 | 120 |
J M Posner Limited (Registered number: 06800355) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 31 March 2016 |
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5. | CALLED UP SHARE CAPITAL - continued |
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The Company's share capital is divided into Ordinary £1 shares and A Ordinary £1 Shares. All shares in the |
company will rank pari passu in all respects with the exception of A Ordinary £1 shares which will have no right |
to attend and vote at any shareholder meeting of the Company. |
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The holders of the Ordinary shares and A Ordinary shares shall be entitled to receive dividends as declared |
payable by the directors to each class of shares. The directors may at any time resolve to declare different |
dividends or a dividend on one or more classes of share to the exclusion of all or any of the classes. |