Nock Deighton (1831) Limited - Period Ending 2016-06-30

Registration number: 06589318

Nock Deighton (1831) Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

Nock Deighton (1831) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Nock Deighton (1831) Limited
(Registration number: 06589318)
Abbreviated Balance Sheet
at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets		2			162,000			175,500
Tangible fixed assets		2			540,747			555,498
					702,747			730,998
Current assets
Stocks					141,987			133,800
Debtors					256,709			217,043
Investments					10,000			10,000
Cash at bank and in hand					233,738			146,920
					642,434			507,763
Creditors: Amounts falling due within one year		3			(446,945)			(919,295)
Net current assets/(liabilities)					195,489			(411,532)
Total assets less current liabilities					898,236			319,466
Creditors: Amounts falling due after more than one year		3			(659,615)			(76,925)
Provisions for liabilities					(24,664)			(28,438)
Net assets					213,957			214,103
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					212,957			213,103
Shareholders' funds					213,957			214,103

For the year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board and authorised for issue on 08 March 2017 and signed on its behalf by:

 R Nettleton
 Director

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Nock Deighton (1831) Limited
Notes to the Abbreviated Accounts
for the Year Ended 30 June 2016

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts receivable for goods and services net of VAT and trade discounts.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

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:

Asset class	Depreciation method and rate
Freehold land and buildings	2% on cost
Leasehold improvements	Over the period of the lease
Fixtures, fittings, and equipment	25% reducing balance
Motor vehicles	25% reducing balance

Land of £63,500 is not depreciated.

Current asset investments

Current asset investments are included at the lower of cost and net realisable value.

Work in progress

Work in progress is valued at 75% of 3 months of overheads of the estate agency business. This is on the basis that the average sale takes 3 months to complete, with a 25% drop out.

Deferred tax

Deferred taxation is provided in full 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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Nock Deighton (1831) Limited
Notes to the Abbreviated Accounts
for the Year Ended 30 June 2016

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2015		281,000			861,950			1,142,950
Additions		-			60,291			60,291
At 30 June 2016		281,000			922,241			1,203,241
Depreciation
At 1 July 2015		105,500			306,452			411,952
Charge for the year		13,500			75,042			88,542
At 30 June 2016		119,000			381,494			500,494
Net book value
At 30 June 2016		162,000			540,747			702,747
At 30 June 2015		175,500			555,498			730,998

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		59,615			76,925

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A shares of £ 1 each		501			501			501			501
Ordinary B shares of £ 1 each		494			494			498			498
Ordinary C shares (non voting) of £ 1 each		5			5			1			1
		1,000			1,000			1,000			1,000

The classes of share referred to above carry separate rights to dividends but in all other respects rank pari passu, excepting the Ordinary C shares which carry no voting rights.

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