Company Registration No. 02781553 (England and Wales)
A J O'CONNOR LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2016
A J O'CONNOR LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
A J O'CONNOR LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
31 July 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
188,477
110,370
Current assets
Stocks
146,680
123,960
Debtors
58,763
379,463
Cash at bank and in hand
1,086,906
537,558
1,292,349
1,040,981
Creditors: amounts falling due within one year
(754,894)
(619,672)
Net current assets
537,455
421,309
Total assets less current liabilities
725,932
531,679
Creditors: amounts falling due after more than one year
(2,866)
(7,780)
Provisions for liabilities
(27,827)
(10,039)
695,239
513,860
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
695,139
513,760
Shareholders' funds
695,239
513,860
A J O'CONNOR LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2016
31 July 2016
- 2 -
For the financial year ended 31 July 2016 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 26 January 2017
Ms A J O'Connor
Director
Company Registration No. 02781553
A J O'CONNOR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
- 3 -
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 January 2007).
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
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 services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets 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:
Plant and machinery
25% reducing balance
Fixtures, fittings and equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2015
848,192
Additions
108,702
At 31 July 2016
956,894
Depreciation
At 1 August 2015
737,822
Charge for the year
30,595
At 31 July 2016
768,417
Net book value
At 31 July 2016
188,477
At 31 July 2015
110,370
A J O'CONNOR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 ordinary shares of £1 each
100
100
4
Related party relationships and transactions
Transactions with directors
At
31st July 2016
the company owed
£276,707 to the directors (2015: £97,712). The loan is interest free and repayable on demand.