Company Registration No. NI011754 (Northern Ireland)
RAYMOND TURKINGTON (DECORATIONS) LIMITED
Unaudited accounts
for the year ended 30 June 2017
RAYMOND TURKINGTON (DECORATIONS) LIMITED
Unaudited accounts
Contents
RAYMOND TURKINGTON (DECORATIONS) LIMITED
Company Information
for the year ended 30 June 2017
Directors
Raymond Turkington
Hilary Turkington
Neil Turkington
Company Number
NI011754 (Northern Ireland)
Registered Office
18 Sweep Road
Cookstown
Co Tyrone
BT80 8JW
Accountants
A D Pottie & Co Ltd
1 Church Street
Fintona
Tyrone
BT78 2BR
RAYMOND TURKINGTON (DECORATIONS) LIMITED
Statement of financial position
as at
30 June 2017
Tangible assets
1,615,708
1,652,458
Inventories
290,361
329,361
Cash at bank and in hand
250,609
242,708
Creditors: amounts falling due within one year
(1,163,728)
(1,170,854)
Net current liabilities
(137,541)
(101,445)
Total assets less current liabilities
1,478,257
1,551,103
Creditors: amounts falling due after more than one year
(337,554)
(393,678)
Net assets
1,140,703
1,157,425
Called up share capital
15,000
15,000
Revaluation reserve
(193,419)
(193,419)
Profit and loss account
1,319,122
1,335,844
Shareholders' funds
1,140,703
1,157,425
For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 5 March 2018.
Raymond Turkington
Director
Company Registration No. NI011754
RAYMOND TURKINGTON (DECORATIONS) LIMITED
Notes to the Accounts
for the year ended 30 June 2017
RAYMOND TURKINGTON (DECORATIONS) LIMITED is a private company, limited by shares, registered in Northern Ireland, registration number NI011754. The registered office is 18 Sweep Road, Cookstown, Co Tyrone, BT80 8JW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 June 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2016
1,696,626
491,282
10,500
2,198,408
Additions
27,406
1,166
-
28,572
At 30 June 2017
1,724,032
492,448
10,500
2,226,980
At 1 July 2016
300,000
238,390
7,560
545,950
Charge for the year
-
63,222
2,100
65,322
At 30 June 2017
300,000
301,612
9,660
611,272
At 30 June 2017
1,424,032
190,836
840
1,615,708
At 30 June 2016
1,396,626
252,892
2,940
1,652,458
RAYMOND TURKINGTON (DECORATIONS) LIMITED
Notes to the Accounts
for the year ended 30 June 2017
5
Investments
Subsidiary undertakings
Valuation at 1 July 2016
90
Valuation at 30 June 2017
90
Raw materials
290,361
329,361
Trade debtors
95,102
84,124
Amounts due from group undertakings etc.
2,963
2,963
Other debtors
387,152
410,253
8
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
285,646
306,252
Trade creditors
228,373
228,395
Amounts owed to group undertakings and other participating interests
567,435
556,937
Taxes and social security
59,774
56,770
Other creditors
22,500
22,500
9
Creditors: amounts falling due after more than one year
2017
2016
Bank loans
337,554
393,678
10
Average number of employees
During the year the average number of employees was 0 (2016: 0).