For the year ended 31 December 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 05041453
JA Francis & Son Limited
For the year ended 31 December 2014
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
Notes to the Abbreviated Financial Statements
|
JA Francis & Son Limited
For the year ended 31 December 2014
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Computer Equipment
Motor Vehicles
No depreciation is provided on the company
'
s freehold properties since in the opinion of the directors the expected
|
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
|
would be immaterial
.
The directors undertake an annual impairment review of these properties
.
|
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
2 of 3
Notes to the Abbreviated Financial Statements
|
JA Francis & Son Limited
For the year ended 31 December 2014
289,135
87,217
(11,950)
364,402
188,948
(5,549)
35,522
Charge for year
218,921
145,481
100,187
3 of 3