Tibbs Morgan Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04640049 (England and Wales)

TIBBS MORGAN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

4

DIRECTOR:

C Ilett

SECRETARY:

Mrs E J Ilett

REGISTERED OFFICE:

14 London Road

Newark

Nottinghamshire

NG24 1TW

BUSINESS ADDRESS:

The Winnows

Swinsty Fold, Norwood

Harrogate

North Yorkshire

HG3 1TE

REGISTERED NUMBER:

04640049 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 London Road

Newark

Nottinghamshire

NG24 1TW

BANKERS:

HSBC Bank Plc

31 Carolgate

Retford

Nottinghamshire

DN22 6DA

FIXED ASSETS

Property, plant and equipment

4

769

1,694

CURRENT ASSETS

Debtors

5

22,590

14,760

Cash at bank

88,323

111,870

110,913

126,630

CREDITORS

Amounts falling due within one year

6

14,760

26,340

NET CURRENT ASSETS

96,153

100,290

TOTAL ASSETS LESS CURRENT LIABILITIES

96,922

101,984

PROVISIONS FOR LIABILITIES

130

339

NET ASSETS

96,792

101,645

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

96,692

101,545

SHAREHOLDERS' FUNDS

96,792

101,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 14 December 2017 and were signed by:

C Ilett - Director

1.	STATUTORY INFORMATION

Tibbs Morgan Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements for the year end 31 March 2017 are the first financial statements of Tibbs Morgan Limited

prepared in accordance with FRS 102. Adjustments required on transition are set out in the notes to the financial

statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Property, plant and equipment

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

Plant and machinery etc

-

33% on cost and 15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the statement of financial position date.

Deferred tax

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

financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

8,945

DEPRECIATION

At 1 April 2016

7,251

Charge for year

925

At 31 March 2017

8,176

NET BOOK VALUE

At 31 March 2017

769

At 31 March 2016

1,694

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

22,590

14,760

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Taxation and social security

10,879

19,782

Other creditors

3,881

6,558

14,760

26,340

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

100

Ordinary shares

£1

100

100

8.	FIRST YEAR ADOPTION

There were no adjustments required on transition to FRS 102.