A J Moore (Dispensing Optician Walsall) - Limited company accounts 16.3

REGISTERED NUMBER: 01384784 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

FOR

A.J. MOORE (DISPENSING OPTICIAN WALSALL)

LIMITED

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Dr R F Harrower

REGISTERED OFFICE:

17 Bellfield

Tanworth in Arden

Solihull

West Midlands

B94 5AW

REGISTERED NUMBER:

01384784 (England and Wales)

ACCOUNTANT:

David Lloyd FCA

148 Lugtrout Lane

Solihull

West Midlands

B91 2RX

The director presents his report with the financial statements of the company for the year ended 31 July 2016.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property rental.

DIRECTOR

Dr R F Harrower held office during the whole of the period from 1 August 2015 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Dr R F Harrower - Director

23 November 2016

TURNOVER

11,480

11,000

Administrative expenses

21,217

5,647

(9,737

)

5,353

Other operating income

890

864

OPERATING (LOSS)/PROFIT

2

(8,847

)

6,217

Interest receivable and similar income

15

15

(LOSS)/PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

(8,832

)

6,232

Tax on (loss)/profit on ordinary activities

3

(1,288

)

1,246

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(7,544

)

4,986

FIXED ASSETS

Investment property

4

150,000

150,000

CURRENT ASSETS

Debtors

5

2,315

590

Cash at bank

62,381

73,119

64,696

73,709

CREDITORS

Amounts falling due within one year

6

4,863

6,332

NET CURRENT ASSETS

59,833

67,377

TOTAL ASSETS LESS CURRENT LIABILITIES

209,833

217,377

CAPITAL AND RESERVES

Called up share capital

7

100

100

Revaluation reserve

8

98,628

98,628

Profit and loss account

8

111,105

118,649

SHAREHOLDERS' FUNDS

209,833

217,377

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the director on 23 November 2016 and were signed by:

Dr R F Harrower - Director

1.	ACCOUNTING POLICIES

Accounting convention

Turnover

Turnover represents the value of rent charged during the year

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

The company's properties are held for long term investment. Investment properties are accounted for in

accordance with FRSSE, as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or

deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal,

on an individual investment property is expected to be permanent, in which case it is recognised in the profit and

loss account for the year.

This treatment as regards the company's investment properties may be a departure from the requirements of the

Companies Act concerning the depreciation of fixed assets. However, there properties are not held for

consumption but for investment and the directors consider that systematic annual depreciation would be

inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true

and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the

amount which might otherwise have been shown cannot be separately identified or quantified.

Deferred tax

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

sheet date.

2.	OPERATING (LOSS)/PROFIT

The operating loss (2015 - operating profit) is stated after charging:

31.7.16

31.7.15

£

£

Director's remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss on ordinary activities for the year was as follows:

31.7.16

31.7.15

£

£

Current tax:

UK corporation tax

(1,288

)

1,246

Tax on (loss)/profit on ordinary activities

(1,288

)

1,246

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 August 2015

and 31 July 2016

150,000

NET BOOK VALUE

At 31 July 2016

150,000

At 31 July 2015

150,000

Investment properties were revalued at 31 July 2014 by a director of the company. Had the investment property

not been revalued it would have been included at a cost of £51,372.

The company, as lessor, leases certain fixed assets under operating leases. These assets have been valued at

£150,000 (2015: £150,000). The aggregate rent receivable under these leases amounted to £11,000 (2015:

£11,000).

Cost or valuation at 31 July 2016 is represented by:

£

Valuation in 2014

98,628

Cost

51,372

150,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.16

31.7.15

£

£

Other debtors

2,315

590

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.16

31.7.15

£

£

Trade creditors

(1

)

-

Taxation and social security

(28

)

1,260

Other creditors

4,892

5,072

4,863

6,332

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Profit

and loss

Revaluation

account

reserve

Totals

£

£

£

At 1 August 2015

118,649

98,628

217,277

Deficit for the year

(7,544

)

(7,544

)

At 31 July 2016

111,105

98,628

209,733

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Dr R F Harrower.