Johns And Mushroom Percussion Limited |
|
Chartered Accountants' report to the directors on the preparation of the unaudited abbreviated accounts of Johns And Mushroom Percussion Limited for the year ended 31 August 2016 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Johns And Mushroom Percussion Limited for the year ended 31 August 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
This report is made solely to the Board of Directors of Johns And Mushroom Percussion Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Johns And Mushroom Percussion Limited and state those matters that we have agreed to state to the Board of Directors of Johns And Mushroom Percussion Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Johns And Mushroom Percussion Limited and its Board of Directors as a body for our work or for this report. |
It is your duty to ensure that Johns And Mushroom Percussion Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Johns And Mushroom Percussion Limited. You consider that Johns And Mushroom Percussion Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the accounts of Johns And Mushroom Percussion Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts. |
|
Neil Wright & Co |
Chartered Accountants |
166 Linacre Road |
Litherland |
Liverpool |
Merseyside |
L21 8JU |
|
16 January 2017 |
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Johns And Mushroom Percussion Limited
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Registered number: |
04574938
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Abbreviated Balance Sheet |
as at 31 August 2016
|
|
Notes |
|
|
2016 |
|
|
2015 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
249,583 |
|
|
274,318 |
|
Current assets |
Stocks |
|
|
99,000 |
|
|
162,000 |
Debtors |
|
|
50,624 |
|
|
43,685 |
Cash at bank and in hand |
|
|
64,995 |
|
|
41,015 |
|
|
|
214,619 |
|
|
246,700 |
|
Creditors: amounts falling due within one year |
|
|
(217,094) |
|
|
(178,347) |
|
Net current (liabilities)/assets |
|
|
|
(2,475) |
|
|
68,353 |
|
Total assets less current liabilities |
|
|
|
247,108 |
|
|
342,671 |
|
Creditors: amounts falling due after more than one year |
|
|
|
(187,603) |
|
|
(205,926) |
|
Provisions for liabilities |
|
|
|
(825) |
|
|
(1,098) |
|
|
Net assets |
|
|
|
58,680 |
|
|
135,647 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
4 |
|
|
12 |
|
|
12 |
Profit and loss account |
|
|
|
58,668 |
|
|
135,635 |
|
Shareholders' funds |
|
|
|
58,680 |
|
|
135,647 |
|
|
|
|
|
|
|
|
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.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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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.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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|
|
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Mr. G. J. Johns |
Director |
Approved by the board on 16 January 2017
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|
Johns And Mushroom Percussion Limited
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Notes to the Abbreviated Accounts |
for the year ended 31 August 2016
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
|
Turnover |
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Turnover represents the slaes value, net of value added tax and discounts, of goods and services provided to customers.
|
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Land and buildings |
5% straight line (20 years)
|
|
Fixtures and fittings |
25% reducing balance
|
|
Office and sundry equipment |
25% reducing balance |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Pensions |
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The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 September 2015 |
507,879 |
|
At 31 August 2016 |
507,879 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2015 |
233,561 |
|
Charge for the year |
24,735 |
|
At 31 August 2016 |
258,296 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2016 |
249,583 |
|
At 31 August 2015 |
274,318 |
|
|
|
|
|
|
|
|
3 |
Loans |
2016 |
|
2015 |
£ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
116,000 |
|
125,926 |
|
Secured bank loans |
204,783 |
|
221,926 |
|
|
|
|
|
|
|
|
|
|
4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
12 |
|
12 |
|
12 |
|
|
|
|
|
|
|
|
|