Company Registration No. 01482174 (England and Wales)
JOHN M START & CO LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2015
JOHN M START & CO LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
JOHN M START & CO LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2015
30 April 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
24,362
28,062
Current assets
Stocks
87,250
65,141
Debtors
103,083
66,760
Cash at bank and in hand
927
927
191,260
132,828
Creditors: amounts falling due within one year
(244,618)
(253,246)
Net current liabilities
(53,358)
(120,418)
Total assets less current liabilities
(28,996)
(92,356)
Creditors: amounts falling due after more than one year
(38,607)
-
(67,603)
(92,356)
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
(68,603)
(93,356)
Shareholders' funds
(67,603)
(92,356)
For the financial year ended 30 April 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 January 2016
Mr John Michael Start
Director
Company Registration No. 01482174
JOHN M START & CO LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Dividends were paid in the year in excess of profit as the directors expected profits to be higher than the actual results, the shareholders undertake to repay any over distribution of profit should the company need funds.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
2% Straight Line
Fixtures, fittings & equipment
15% Reducing Balance
Motor vehicles
25% Reducing Balance
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2014 & at 30 April 2015
178,792
Depreciation
At 1 May 2014
150,730
Charge for the year
3,700
At 30 April 2015
154,430
Net book value
At 30 April 2015
24,362
At 30 April 2014
28,062
JOHN M START & CO LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1,000 Ordinary Shares of £1 each
1,000
1,000