Company Registration No. 06949791 (England and Wales)
NORTHERN RUNNER LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
NORTHERN RUNNER LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
NORTHERN RUNNER LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
1,648
3,466
Tangible assets
2
2,812
3,749
4,460
7,215
Current assets
Stocks
101,250
99,655
Debtors
20,208
6,724
Cash at bank and in hand
26,123
11,401
147,581
117,780
Creditors: amounts falling due within one year
(102,695)
(101,936)
Net current assets
44,886
15,844
Total assets less current liabilities
49,346
23,059
Provisions for liabilities
(562)
(580)
48,784
22,479
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
48,783
22,478
Shareholders' funds
48,784
22,479
NORTHERN RUNNER LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2016
31 August 2016
- 2 -
For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 30 May 2017
C R E Stead
Director
Company Registration No. 06949791
NORTHERN RUNNER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets 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:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 September 2015 & at 31 August 2016
18,180
14,474
32,654
Depreciation
At 1 September 2015
14,714
10,725
25,439
Charge for the year
1,818
937
2,755
At 31 August 2016
16,532
11,662
28,194
Net book value
At 31 August 2016
1,648
2,812
4,460
At 31 August 2015
3,466
3,749
7,215
NORTHERN RUNNER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Orinary share of £1 each
1
1