MARTIN_FURBER_&_CO_LIMITE - Accounts

Company Registration No. 05119722 (England and Wales)
MARTIN FURBER & CO LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
MARTIN FURBER & CO LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
MARTIN FURBER & CO LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MARTIN FURBER & CO LIMITED FOR THE YEAR ENDED 31 AUGUST 2016
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Martin Furber & Co Limited for the year ended 31 August 2016 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Martin Furber & Co Limited, as a body, in accordance with the terms of our engagement letter dated 12 May 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Martin Furber & Co Limited and state those matters that we have agreed to state to the Board of Directors of Martin Furber & Co Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Martin Furber & Co Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Martin Furber & Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Martin Furber & Co Limited. You consider that Martin Furber & Co Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Martin Furber & Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Moore and Smalley LLP
Chartered Accountants
Fylde House
Skyways Commercial Campus
Amy Johnson Way
Blackpool
FY4 3RS
26 May 2017
MARTIN FURBER & CO LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
24,759
18,262
Current assets
Stocks
180,000
130,000
Debtors
31,145
25,054
Cash at bank and in hand
10,357
1,832
221,502
156,886
Creditors: amounts falling due within one year
(385,267)
(285,268)
Net current liabilities
(163,765)
(128,382)
Total assets less current liabilities
(139,006)
(110,120)
(139,006)
(110,120)
Capital and reserves
Called up share capital
3
20,000
20,000
Profit and loss account
(159,006)
(130,120)
Shareholder's funds
(139,006)
(110,120)
For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his 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 26 May 2017
Mr M  Furber
Director
Company Registration No. 05119722
MARTIN FURBER & CO LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
1
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).

These accounts have been prepared on the going concern basis on the understanding that the parent, Capridge Limited, will continue to financially support the company.

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

The turnover shown in the profit and loss account represents amounts from sales of jewellery and the buying and selling of gold and silver and is exclusive of Value Added Tax.

1.4
Tangible fixed assets and depreciation
Tangible fixed assets 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:
Plant and machinery
25% reducing balance
Computer equipment
33.3% straight line
Fixtures, fittings & equipment
20% straight line
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
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.
1.7
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
1.8

Going concern

There was a net deficit of assets of £139,006 (2015 : £110,120) at the balance sheet date. However, the director has confirmed his continued support for the company and considers that the company retains sufficient working capital for the forseeable future.

MARTIN FURBER & CO LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015
59,958
Additions
14,751
At 31 August 2016
74,709
Depreciation
At 1 September 2015
41,696
Charge for the year
8,254
At 31 August 2016
49,950
Net book value
At 31 August 2016
24,759
At 31 August 2015
18,262
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
20,000ordinary of £1 each
20,000
20,000
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