Company Registration No. 00798793 (England and Wales)
G W JACKSON & SON LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
G W JACKSON & SON LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
G W JACKSON & SON LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
30 November 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
36,414
48,352
Investments
2
250
250
36,664
48,602
Current assets
Stocks
40,951
51,111
Debtors
324,266
295,146
Cash at bank and in hand
15,066
2,483
380,283
348,740
Creditors: amounts falling due within one year
3
(294,285)
(266,531)
Net current assets
85,998
82,209
Total assets less current liabilities
122,662
130,811
Creditors: amounts falling due after more than one year
4
(25,300)
(39,948)
97,362
90,863
Capital and reserves
Called up share capital
5
6,550
6,550
Share premium account
700
700
Other reserves
5,250
5,250
Profit and loss account
84,862
78,363
Shareholders' funds
97,362
90,863
G W JACKSON & SON LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2016
30 November 2016
- 2 -
For the financial year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 18 August 2017
Mr S. R. Beard
Director
Company Registration No. 00798793
G W JACKSON & SON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 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
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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:
Fixtures, fittings & equipment
20% on cost
Motor vehicles
25% on reducing balance
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
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.
G W JACKSON & SON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 December 2015
1
126,092
250
126,343
Disposals
-
(1,500)
-
(1,500)
At 30 November 2016
1
124,592
250
124,843
Depreciation
At 1 December 2015
1
77,740
-
77,741
On disposals
-
(687)
-
(687)
Charge for the year
-
11,125
-
11,125
At 30 November 2016
1
88,178
-
88,179
Net book value
At 30 November 2016
-
36,414
250
36,664
At 30 November 2015
-
48,352
250
48,602
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £14,631 (2015 - £26,876).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £25,300 (2015 - £39,672).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
4,050 Ordinary 'B' of £1 each
4,050
4,050
25,000 Deferred ordinary of 10p each
2,500
2,500
6,550
6,550