T. Chambers & Son Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01716372 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

T. CHAMBERS & SON LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J T Chambers

T Chambers

REGISTERED OFFICE:

397 Romford Road

London

E7 8AB

REGISTERED NUMBER:

01716372 (England and Wales)

ACCOUNTANTS:

Accura Accountants Ltd

Langley House Park Road

East Finchley

London

N2 8EY

FIXED ASSETS

Intangible assets

2

-

15,000

Tangible assets

3

185,077

119,859

185,077

134,859

CURRENT ASSETS

Stocks

164,226

222,017

Debtors

160,293

254,504

Cash at bank and in hand

455,828

109,386

780,347

585,907

CREDITORS

Amounts falling due within one year

533,624

456,348

NET CURRENT ASSETS

246,723

129,559

TOTAL ASSETS LESS CURRENT
LIABILITIES

431,800

264,418

CREDITORS

Amounts falling due after more than one
year

(10,314

)

(11,103

)

PROVISIONS FOR LIABILITIES

(21,587

)

(14,793

)

NET ASSETS

399,899

238,522

CAPITAL AND RESERVES

Called up share capital

4

5,000

Profit and loss account

394,899

233,522

SHAREHOLDERS' FUNDS

399,899

238,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 6 July 2016 and were signed on its behalf by:

J T Chambers - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover for the year is derived wholly from the company's business of being a timber merchants and represents

the total invoice value, excluding VAT of sales made during the year.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold Property

-

50% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

100,000

AMORTISATION

At 1 January 2015

85,000

Amortisation for year

15,000

At 31 December 2015

100,000

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

15,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

218,489

Additions

93,853

Disposals

(12,018

)

At 31 December 2015

300,324

DEPRECIATION

At 1 January 2015

98,630

Charge for year

28,273

Eliminated on disposal

(11,656

)

At 31 December 2015

115,247

NET BOOK VALUE

At 31 December 2015

185,077

At 31 December 2014

119,859

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

5,000

Ordinary

1

5,000