Registered Number SC028073
THOMSON, RODDICK & LAURIE LIMITED
Abbreviated Accounts
31 December 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 5 |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 6 |
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Share premium account |
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Revaluation reserve |
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Other reserves |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Long Leasehold Properties - straight line 1%
Plant and Machinery - reducing balance Between 12.5% and 25%
Commercial Vehicles - reducing balance 25%
Other accounting policies
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.
Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
Pension Costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Foreign Currency
Transactions in foreign currency are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the exchange rate ruling at that date. Foreign exchange gains and losses are recognised in the income statement. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.
Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve .
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.
£ | |
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Cost | |
At 1 January 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 December 2015 |
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Amortisation | |
At 1 January 2015 |
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Charge for the year |
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On disposals |
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At 31 December 2015 |
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Net book values | |
At 31 December 2015 | 45,655 |
At 31 December 2014 | 49,805 |
£ | |
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Cost | |
At 1 January 2015 |
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Additions |
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Disposals |
( |
Revaluations |
( |
Transfers |
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At 31 December 2015 |
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Depreciation | |
At 1 January 2015 |
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Charge for the year |
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On disposals |
( |
At 31 December 2015 |
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Net book values | |
At 31 December 2015 | 2,151,252 |
At 31 December 2014 | 1,790,846 |
If the investment properties were sold at their current market value of £1,821,743, tax of £121,988 would become payable.
The land and buildings have not been depreciated as the directors consider that there has been no impairment to the underlying value of these assets. The company has a policy of regular maintenenace and repair and the underlying value is well in excess of the net book value as presently stated.
4
Fixed assets Investments
Listed Investments included 49,152 £1 ordinary shares in Cumberland & Dumfriesshire Farmers Mart Plc, representing 20.5% of the equity share capital of the company, which is registered in England. These shares became worthless when the compay went into administration on 8th August 2015. This listed investment had a historic cost of £5,480 (2014: - £5,480). In August 2015 Thomson Roddick & Laurie Ltd purchased the Longtown Mart property from the administrators and established a new trading company C & D Auction Mart Ltd.
Unlisted UK Investments includes 386,900 £1 ordinary shares of C & D Auction Mart Ltd representing 48.67% of the equity share capital of the company, which was incorporated on 3rd August 2015 and is registered in England. This unlisted investment cost £386,900 (2014 : £Nil). The aggregate amount of capital and reserves at 31st March 2016 was £917,510 and the Retained Profit for the period was £122,510.
2015
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2014
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Secured Debts |
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Instalment debts due after 5 years |
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