VICKERY_&_SONS_LTD - Accounts

VICKERY AND SONS LIMITED - Company Information

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Company Registration No. 05471459 (England and Wales)

VICKERY & SONS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

VICKERY & SONS LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

VICKERY & SONS LTD

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

198,474

233,499

Current assets

Stocks

1,703

2,365

Debtors

892

8,058

Cash at bank and in hand

9,110

21,423

11,705

31,846

Creditors: amounts falling due within one year

(41,369)

(56,518)

Net current liabilities

(29,664)

(24,672)

Total assets less current liabilities

168,810

208,827

Creditors: amounts falling due after more than one year

(70,114)

(103,429)

Provisions for liabilities

(39,695)

(42,271)

59,001

63,127

Capital and reserves

Called up share capital

Profit and loss account

58,981

63,107

Shareholders' funds

59,001

63,127

VICKERY & SONS LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2016

- 2 -

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 February 2017

Mr R Vickery

Mr J Vickery

Director

Company Registration No. 05471459

VICKERY & SONS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. services to customers.

1.4

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:

Tractors

15% reducing balance

Plant and machinery

15% reducing balance

Office equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.5

Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in 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.

VICKERY & SONS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 October 2015 & at 30 September 2016

390,822

Depreciation

At 1 October 2015

157,323

Charge for the year

35,025

At 30 September 2016

192,348

Net book value

At 30 September 2016

198,474

At 30 September 2015

233,499

Share capital

2016

2015

Allotted, called up and fully paid

20 Ordinary shares of £1 each