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JOHN RADCLIFFE & SONS (1802) LIMITED
Registered number: 00150810
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 8,129 10,160
Investments 3 500 500
8,629 10,660
Current assets
Stocks 168,014 162,480
Debtors 4 309,002 558,778
Cash at bank and in hand 400,472 399,275
877,488 1,120,533
Creditors: amounts falling due within one year 5 (603,719) (817,300)
Net current assets 273,769 303,233
Total assets less current liabilities 282,398 313,893
Provisions for liabilities - (821)
Net assets 282,398 313,072
Capital and reserves
Called up share capital 4,750 4,750
Capital redemption reserve 6 4,750 4,750
Profit and loss account 272,898 303,572
Shareholders' funds 282,398 313,072
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
JSH Radcliffe
Director
Approved by the board on 7 December 2017
JOHN RADCLIFFE & SONS (1802) LIMITED
Notes to the Accounts
for the year ended 31 March 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold buildings Over term of lease
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
Land and buildings Fixtures & fittings Total
£ £ £
Cost
At 1 April 2016 21,152 91,371 112,523
At 31 March 2017 21,152 91,371 112,523
Depreciation
At 1 April 2016 15,104 87,259 102,363
Charge for the year 1,209 822 2,031
At 31 March 2017 16,313 88,081 104,394
Net book value
At 31 March 2017 4,839 3,290 8,129
At 31 March 2016 6,048 4,112 10,160
3 Investments
Other
investments
£
Cost
At 1 April 2016 500
At 31 March 2017 500
4 Debtors 2017 2016
£ £
Trade debtors 25,133 72,864
Loans to related companies 281,928 280,905
Holding company debtor - 203,000
Other debtors 1,941 2,009
309,002 558,778
5 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 251,587 35,112
Accruals - 8,685
Corporation tax - 14,275
Rentention accrual 53,817 53,817
Other taxes and social security costs 13,076 18,224
Other creditors 285,239 687,187
603,719 817,300
6 Capital redemption reserve 2017 2016
£ £
At 1 April 2016 4,750 4,750
At 31 March 2017 4,750 4,750
7 Other information
JOHN RADCLIFFE & SONS (1802) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Queens Square
Leeds Road
Huddersfield
HD2 1XN
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