Company Registration No. 05460464 (England and Wales)
JOHN MANNERS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
JOHN MANNERS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
JOHN MANNERS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
14,000
20,000
Tangible assets
2
2,142,823
1,942,835
2,156,823
1,962,835
Current assets
Stocks
239,437
200,443
Debtors
227,989
349,398
Cash at bank and in hand
410,332
415,798
877,758
965,639
Creditors: amounts falling due within one year
3
(371,500)
(713,328)
Net current assets
506,258
252,311
Total assets less current liabilities
2,663,081
2,215,146
Creditors: amounts falling due after more than one year
4
(25,798)
(29,790)
Provisions for liabilities
(120,535)
(90,316)
2,516,748
2,095,040
Capital and reserves
Called up share capital
5
10,000
10,000
Profit and loss account
2,506,748
2,085,040
Shareholders' funds
2,516,748
2,095,040
JOHN MANNERS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 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 7 April 2016
J.R. Manners
Director
Company Registration No. 05460464
JOHN MANNERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 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 2015).
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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.
1.5
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, buildings and improvements
Nil
Plant and machinery etc.
10% & 20% Straight line & 15% Reducing balance
Integral features
5% Straight line
Motor vehicles
25% Reducing balance
Although Companies Act requires annual depreciation of fixed assets, land an buildings are not depreciated. The directors believe that the policy of not providing depreciation is necessary for the accounts to give a true and fair view. In the opinion of the directors the freehold buildings are well maintained and have not diminished in value.
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Pensions
The company operates a defined contribution scheme for the benefit of
two of its directors
. Contributions payable are charged to the profit and loss account in the year they are payable.
JOHN MANNERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
1
Accounting policies
(Continued)
- 4 -
1.9
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
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2015
100,000
2,208,602
2,308,602
Additions
-
335,874
335,874
Disposals
-
(11,846)
(11,846)
At 31 December 2015
100,000
2,532,630
2,632,630
Depreciation
At 1 January 2015
80,000
265,766
345,766
On disposals
-
(9,011)
(9,011)
Charge for the year
6,000
133,052
139,052
At 31 December 2015
86,000
389,807
475,807
Net book value
At 31 December 2015
14,000
2,142,823
2,156,823
At 31 December 2014
20,000
1,942,835
1,962,835
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £131,751 (2014 - £182,454).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £25,798 (2014 - £29,790).
JOHN MANNERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 5 -
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000