|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
SMD Stockyards Limited |
|
Financial Statements |
|
for the Year Ended 31 July 2017 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
SMD Stockyards Limited |
|
Financial Statements |
|
for the Year Ended 31 July 2017 |
|
|
|
|
|
SMD Stockyards Limited (Registered number: 08324990) |
|
Contents of the Financial Statements |
for the year ended 31 July 2017 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
SMD Stockyards Limited |
|
Company Information |
for the year ended 31 July 2017 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
33 George Street |
Wakefield |
West Yorkshire |
WF1 1LX |
SMD Stockyards Limited (Registered number: 08324990) |
|
Balance Sheet |
31 July 2017 |
|
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
SMD Stockyards Limited (Registered number: 08324990) |
|
Balance Sheet - continued |
31 July 2017 |
|
2017 | 2016 |
Notes | £ | £ | £ | £ |
|
CAPITAL AND RESERVES |
Called up share capital | 8 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
|
|
|
|
|
|
|
|
SMD Stockyards Limited (Registered number: 08324990) |
|
Notes to the Financial Statements |
for the year ended 31 July 2017 |
|
|
1. | STATUTORY INFORMATION |
|
SMD Stockyards Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
The functional and presentation currency for the company is the pound sterling (£). All financial information |
presented has been rounded to the nearest (£), unless otherwise stated. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
This is the first year that the company has presented its results under FRS 102. The last financial statements |
under previous UK GAAP were for the year ended 31 July 2016, the date of transition to FRS 102 was 1 August |
2015. The directors have also considered whether, in applying FRS 102, the restatement of comparative |
information was required. No restatements were required. |
|
Going concern |
The directors are of the opinion that the company continues to be a going concern and have therefore adopted |
that basis in the preparation of the financial statements. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Goodwill |
|
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
|
Fixed assets are initially recognised at cost. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
|
SMD Stockyards Limited (Registered number: 08324990) |
|
Notes to the Financial Statements - continued |
for the year ended 31 July 2017 |
|
|
2. | ACCOUNTING POLICIES - continued |
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
|
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. |
|
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. |
|
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. |
|
Hire purchase and leasing commitments |
Rental income from the operating leases is recognised on a straight line basis over the period of the lease. |
Operating lease incentives offered by the company are accounted for as a reduction of the rental income and are |
allocated over the shorter of the lease term and the period to the first rent review where market rentals will be |
receivable. |
|
Where the company does not retain the risks and rewards of ownership of the asset subject to the lease, the |
applicable rentals paid under these operating leases are charged to the profit and loss account on a straight line |
basis over the period of the lease. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
SMD Stockyards Limited (Registered number: 08324990) |
|
Notes to the Financial Statements - continued |
for the year ended 31 July 2017 |
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 August 2016 |
and 31 July 2017 |
|
AMORTISATION |
At 1 August 2016 |
|
Amortisation for year |
|
At 31 July 2017 |
|
NET BOOK VALUE |
At 31 July 2017 |
|
At 31 July 2016 |
|
|
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2016 |
|
|
|
|
Additions |
|
|
|
|
At 31 July 2017 |
|
|
|
|
DEPRECIATION |
At 1 August 2016 |
|
|
|
|
Charge for year |
|
|
|
|
At 31 July 2017 |
|
|
|
|
NET BOOK VALUE |
At 31 July 2017 |
|
|
|
|
At 31 July 2016 |
|
|
|
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
|
|
Amounts owed by related undertakings | 3,055 | 8,281 |
Other debtors |
|
|
Prepayments and accrued income |
|
|
|
|
SMD Stockyards Limited (Registered number: 08324990) |
|
Notes to the Financial Statements - continued |
for the year ended 31 July 2017 |
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
|
|
Amounts owed to related undertakings | 224,040 | 212,342 |
Tax |
|
|
Social security and other taxes |
|
|
VAT | 29,483 | 21,329 |
Other creditors |
|
|
Accruals and deferred income |
|
|
|
|
|
8. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
|
A Ordinary | £1 | 3 | 3 |
|
B Ordinary | £1 | 3 | 3 |
|
C Ordinary | £1 | 2 | 2 |
|
D Ordinary | £1 | 2 | 2 |
2 | E Ordinary | £1 | 2 | 2 |
12 | 12 |
|
9. | OTHER FINANCIAL COMMITMENTS |
|
The company has future operating lease commitments of £31,444 (2016: £85,077). |
|
10. | RELATED PARTY DISCLOSURES |
|
During the year, total dividends of £33,333 (2016 - £43,333) were paid to the directors . |
|
The directors are of the opinion that there are no related party transactions as require disclosure under FRS 102 |
Section 1A. |