Company Registration No. 04555340 (England and Wales)
ALBERT FRENCH & SON LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2015
ALBERT FRENCH & SON LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ALBERT FRENCH & SON LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2015
31 October 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,747
5,059
Current assets
Stocks
886
815
Debtors
51,972
17,533
Cash at bank and in hand
1,476
674
54,334
19,022
Creditors: amounts falling due within one year
3
(21,900)
(14,118)
Net current assets
32,434
4,904
Total assets less current liabilities
36,181
9,963
Creditors: amounts falling due after more than one year
4
(417)
(2,083)
Provisions for liabilities
(749)
(1,012)
35,015
6,868
Capital and reserves
Called up share capital
5
2
2
Profit and loss account
35,013
6,866
Shareholders' funds
35,015
6,868
For the financial year ended 31 October 2015 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 26 July 2016
J E L French
Director
Company Registration No. 04555340
ALBERT FRENCH & SON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 2 -
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 April 2008).
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:
Plant and machinery
15% of cost
Motor vehicles
25% of net book value
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 November 2014 & at 31 October 2015
26,500
11,745
38,245
Depreciation
At 1 November 2014
26,500
6,686
33,186
Charge for the year
-
1,312
1,312
At 31 October 2015
26,500
7,998
34,498
Net book value
At 31 October 2015
-
3,747
3,747
At 31 October 2014
-
5,059
5,059
ALBERT FRENCH & SON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 3 -
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £4,257 (2014 - £2,148).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £417 (2014 - £2,083).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
6
Related party relationships and transactions
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
J E L French
-
10,926
21,960
-
7,920
24,966
D M French
-
32
8,190
-
660
7,562
10,958
30,150
-
8,580
32,528