MARTIN_FURBER_&_CO_LIMITE - Accounts

MARTIN FURBER & CO LIMITED - Company Information

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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

Abbreviated balance sheet

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

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

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

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 -

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 -

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

Share capital

2016

2015

Allotted, called up and fully paid

20,000 ordinary of £1 each

20,000