Cornock & Sons Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01966921 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

CORNOCK & SONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M J Cornock

SECRETARY:

South West Registrars Limited

REGISTERED OFFICE:

124 High Street

Midsomer Norton

Radstock

Bath

BA3 2DA

REGISTERED NUMBER:

01966921 (England and Wales)

ACCOUNTANTS:

Pethericks & Gillard Limited

Chartered Accountants

124 High Street

Midsomer Norton

Bath

BA3 2DA

FIXED ASSETS

Tangible assets

2

285,483

301,497

CURRENT ASSETS

Debtors

3

547,775

458,110

Investments

1,664,010

1,636,446

Cash at bank

10

1,329

2,211,795

2,095,885

CREDITORS

Amounts falling due within one year

92,205

133,879

NET CURRENT ASSETS

2,119,590

1,962,006

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,405,073

2,263,503

PROVISIONS FOR LIABILITIES

884

1,105

NET ASSETS

2,404,189

2,262,398

CAPITAL AND RESERVES

Called up share capital

4

745

Profit and loss account

2,403,444

2,261,653

SHAREHOLDERS' FUNDS

2,404,189

2,262,398

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 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 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 director on 25 November 2016 and were signed by:

M J Cornock - 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).

Tangible fixed assets

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

Long leasehold

-

5% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on reducing balance

No depreciation is provided on the freehold farm land.

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

1,005,338

DEPRECIATION

At 1 January 2015

703,841

Charge for year

16,014

At 31 December 2015

719,855

NET BOOK VALUE

At 31 December 2015

285,483

At 31 December 2014

301,497

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 109,375 (2014 - £ 91,442 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

745

Ordinary

£1

745

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2015 and

31 December 2014:

2015

2014

£

M J Cornock

Balance outstanding at start of year

365,769

271,092

Amounts advanced

71,732

94,677

Amounts repaid

-

Balance outstanding at end of year

437,501

365,769