Registered number: 01332780 | ||||||||
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FOR THE YEAR ENDED 31 OCTOBER 2015 | ||||||||
Prepared By: | ||||||||
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Chartered Accountants | ||||||||
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Lincoln | ||||||||
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J Norcross Ltd | ||||||||
ABBREVIATED ACCOUNTS | ||||||||
FOR THE YEAR ENDED
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INDEX TO THE ACCOUNTS | ||||||||
Abbreviated Balance Sheet | 2 | |||||||
Notes to the Abbreviated Accounts | 3 | |||||||
The company's registered number is 01332780 | ||||||||
J Norcross Ltd | ||||||||
Registered Number: 01332780 | ||||||||||
BALANCE SHEET AT 31 OCTOBER 2015 | ||||||||||
2015 | 2014 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 |
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Investments | 3 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors (amounts falling due within one year) | 4 |
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262,977 |
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CREDITORS: Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: Amounts falling due after more than one year | 5 |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 6 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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Approved by the board on
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Director | ||||||||||
J Norcross Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 OCTOBER 2015 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
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1b. Depreciation | ||||||||
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Long Leasehold Properties |
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Plant and Machinery |
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Motor Cars |
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1c. Stocks | ||||||||
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1d. Taxation | ||||||||
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Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted. |
1e. Turnover | ||||||||
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1f. Investments | ||||||||
Fixed asset investments are shown at cost less amounts written off. | ||||||||
Provisions are made for permanent fluctuations in value. |
1g. Pension | ||||||||
The company operates a defined contribution scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate. |
J Norcross Ltd | ||||||||
1h. Leases | ||||||||
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term. |
2. TANGIBLE FIXED ASSETS | ||||||||
Long Leasehold | Plant and | |||||||
Properties | Machinery | Motor Cars | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 November 2014 |
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At 31 October 2015 | 194,354 | 81,306 | 40,766 | 316,426 | ||||
Depreciation | ||||||||
At 1 November 2014 |
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For the year |
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At 31 October 2015 |
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Net Book Amounts | ||||||||
At 31 October 2015 |
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At 31 October 2014 |
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3. INVESTMENT FIXED ASSETS | |||||||||
Other | |||||||||
Investments | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 1 November 2014 |
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At 31 October 2015 |
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Amortisation | |||||||||
Net Book Amounts | |||||||||
At 31 October 2015 |
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At 31 October 2014 |
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J Norcross Ltd | ||||||||
4. DEBTORS | 2015 | 2014 | ||||||
£ | £ | |||||||
Amounts falling due within one year: | ||||||||
Trade debtors |
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VAT |
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Other Tax |
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Other debtors |
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5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2015 | 2014 | |||||||
£ | £ | |||||||
Other creditors | 5,008 | 14,845 | ||||||
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Included in other creditors are: | ||||||||
Obligations under hire purchase | 5,008 | 14,845 | ||||||
6. SHARE CAPITAL | 2015 | 2014 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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85 | 85 | |||||||
7. OPERATING LEASE COMMITMENTS | ||||||||
The following operating lease payments are committed to be paid within one year: | ||||||||
2015 | 2014 | |||||||
£ | £ | |||||||
Leases expiring in more than five years | 23169 | 23404 |
J Norcross Ltd | ||||||||
8. DIRECTOR TRANSACTIONS | ||||||||
The following loan to director, Mr M J Norcross, subsisted during the years ended 31 October 2015 and 31 October 2014: | ||||||||
2015 | 2014 | |||||||
£ | £ | |||||||
Balance outstanding at start of year | 59488 | 38758 | ||||||
Amounts advanced | 64689 | 65251 | ||||||
Amounts repaid | 25524 | 44521 | ||||||
Balance oustanding at end of year | 98653 | 59488 | ||||||