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Unaudited Financial Statements for the Year Ended 31 March 2016 |
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Ashtead Retail and Wholesale Ltd |
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Unaudited Financial Statements for the Year Ended 31 March 2016 |
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for |
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Ashtead Retail and Wholesale Ltd |
Ashtead Retail and Wholesale Ltd (Registered number: 05369449) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2016 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Ashtead Retail and Wholesale Ltd |
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Company Information |
for the Year Ended 31 March 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Ashtead Retail and Wholesale Ltd |
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The following reproduces the text of the report prepared for the directors and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Ashtead Retail and Wholesale Ltd for the year ended 31 March 2016 which comprise the Profit |
and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information |
and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of Ashtead Retail and Wholesale Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ashtead Retail and Wholesale Ltd and state those matters that we have agreed to state to the Board of Directors of Ashtead Retail and Wholesale Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Ashtead Retail and Wholesale Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ashtead Retail and Wholesale Ltd. You consider that Ashtead Retail and Wholesale Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Ashtead Retail and Wholesale Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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21 July 2016 |
Ashtead Retail and Wholesale Ltd (Registered number: 05369449) |
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Balance Sheet |
31 March 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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545,607 | 548,577 |
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CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 5 |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Profit and loss account | 7 |
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SHAREHOLDERS' FUNDS |
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1,639,505 | 1,737,877 |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Ashtead Retail and Wholesale Ltd (Registered number: 05369449) |
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Balance Sheet - continued |
31 March 2016 |
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The financial statements were approved by K Graham the Board of Directors on
behalf by: |
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Ashtead Retail and Wholesale Ltd (Registered number: 05369449) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
small company. |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Ashtead Retail and Wholesale Ltd (Registered number: 05369449) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2016 |
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2. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2015 |
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Additions |
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At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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Included in cost of land and buildings is freehold land of £ 535,490 (2015 - £ 535,490 ) which is not depreciated. |
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Freehold property is stated at cost, the director values the property at £475,000 at 31st March 2016. |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors | 23,111 | 35,337 |
Other debtors | 28,806 | 28,336 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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5. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax |
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Ashtead Retail and Wholesale Ltd (Registered number: 05369449) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2016 |
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5. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 April 2015 |
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Credit to Profit and Loss Account during year | ( |
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Balance at 31 March 2016 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary shares | £1 |
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7. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1 April 2015 |
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Profit for the year |
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Dividends | ( |
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At 31 March 2016 |
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8. | PENSION COMMITMENTS |
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The company contributes to personal pension schemes on behalf of certain employees. Premiums of £50,018 |
(2015: £35,214) were charged to the profit and loss account during the year as payments were made, and no |
contributions were outstanding at the date of the Balance Sheet. |
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9. | RELATED PARTY DISCLOSURES |
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The company paid dividends of £55,556 (2015: £61,111) during the year to Mr K Graham. |
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2016 | 2015 |
£ | £ |
Amount due (to)/from related party at the balance sheet date | ( |
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Ashtead Retail and Wholesale Ltd (Registered number: 05369449) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2016 |
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9. | RELATED PARTY DISCLOSURES - continued |
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The company paid dividends of £44,444 (2015: £48,889) during the year to Mrs K Graham. |
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2016 | 2015 |
£ | £ |
Amount due (to)/from related party at the balance sheet date | ( |
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10. | ULTIMATE CONTROLLING PARTY |
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The controlling party is
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The company is under the control of the director by virtue of his interest in 100% of the company's issued share |
capital. |
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