Turley & Turley Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04541486 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

TURLEY & TURLEY LIMITED

T/A

JOHN DAMIEN

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D Turley

Mrs E Turley

SECRETARY:

D Turley

REGISTERED OFFICE:

Cambridge House

16 High Street

Saffron Walden

Essex

CB10 1AX

REGISTERED NUMBER:

04541486 (England and Wales)

ACCOUNTANTS:

Tayler Bradshaw

Cambridge House

16 High Street

Saffron Walden

Essex

CB10 1AX

FIXED ASSETS

Intangible assets

2

1

1

Tangible assets

3

20,602

21,469

20,603

21,470

CURRENT ASSETS

Stocks

35,000

35,000

Debtors

9,711

5,610

Cash at bank and in hand

27,859

10,622

72,570

51,232

CREDITORS

Amounts falling due within one year

76,815

71,523

NET CURRENT LIABILITIES

(4,245

)

(20,291

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,358

1,179

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

16,258

1,079

SHAREHOLDERS' FUNDS

16,358

1,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 7 July 2016 and were signed on its behalf by:

D Turley - 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 represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% 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

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

7,995

AMORTISATION

At 1 April 2015

and 31 March 2016

7,994

NET BOOK VALUE

At 31 March 2016

1

At 31 March 2015

1

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

35,549

Additions

500

At 31 March 2016

36,049

DEPRECIATION

At 1 April 2015

14,080

Charge for year

1,367

At 31 March 2016

15,447

NET BOOK VALUE

At 31 March 2016

20,602

At 31 March 2015

21,469

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

60

Ordinary 'A'

£1

60

60

40

Ordinary 'B'

£1

40

40

100

100