Company Registration No. 09358134 (England and Wales)
CHRISTINE MARTIN & CO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
PAGES FOR FILING WITH REGISTRAR
CHRISTINE MARTIN & CO LIMITED
COMPANY INFORMATION
Director
C L Martin
Company number
09358134
Registered office
c/o Lonsdale & Marsh
7th Floor
Cotton House
Old Hall Street
Liverpool
L3 9TX
Accountants
Lonsdale & Marsh
7th Floor
Cotton House
Old Hall Street
Liverpool
L3 9TX
CHRISTINE MARTIN & CO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CHRISTINE MARTIN & CO LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2016
31 December 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Debtors
3
-
797
Cash at bank and in hand
48,289
64,620
48,289
65,417
Creditors: amounts falling due within one year
4
(23,086)
(26,948)
Net current assets
25,203
38,469
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
25,103
38,369
Total equity
25,203
38,469
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 24 October 2017
C L Martin
Director
Company Registration No. 09358134
CHRISTINE MARTIN & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 2 -
1
Accounting policies
Company information
Christine Martin & Co Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
c/o Lonsdale & Marsh, 7th Floor, Cotton House, Old Hall Street, Liverpool, L3 9TX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 December 2016
are the
first
financial statements of Christine Martin & Co Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 17 December 2014. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Reporting period
These financial statements are for the year ended 31 December 2016. The comparative amounts (including the related notes) are for the period ended 31 December 2015, as this was the company's first period of trading and as such are not entirely comparable.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at
cost.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
CHRISTINE MARTIN & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities
, including creditors, bank and other loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less
.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax charge or credit is based on the result for the year and takes into account deferred taxation which is provided using the liability method on temporary timing differences between the tax bases of the assets and liabilities and their carrying amounts in the financial statements.
The tax charge or credit is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply when temporary differences reverse.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
Where relevant, t
he cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Where relevant,
termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2015 - 1).
3
Debtors
2016
2015
Amounts falling due within one year:
£
£
Trade debtors
-
797
CHRISTINE MARTIN & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 4 -
4
Creditors: amounts falling due within one year
2016
2015
£
£
Other taxation and social security
20,041
17,837
Other creditors
3,045
9,111
23,086
26,948
5
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
100 ordinary shares of £1 each
100
100
100
100
During the prior period 100 ordinary shares of £1 each with an aggregate nominal value of £100 were issued and allotted for a consideration of £100.
6
Related party transactions
Dividends to directors
The following directors were paid dividends during the year as outlined in the table below:
2016
2015
£
£
C L Martin
43,500
-
43,500
-
Other transactions
During the year the company paid C L Martin (director) £520 (2015 - £520) in respect of office rental.