A L Cox & Sons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05761439 (England and Wales)

A L COX & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P G Cox

R E Cox

M G Cox

REGISTERED OFFICE:

6 High Street

Metheringham

Lincoln

Lincolnshire

LN4 3EA

REGISTERED NUMBER:

05761439 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Intangible assets

4

375,000

400,000

Tangible assets

5

27,406

35,185

402,406

435,185

CURRENT ASSETS

Stocks

140,032

56,526

Debtors

6

1,852,209

1,766,583

Cash at bank and in hand

116,482

84,577

2,108,723

1,907,686

CREDITORS

Amounts falling due within one year

7

1,310,539

1,121,353

NET CURRENT ASSETS

798,184

786,333

TOTAL ASSETS LESS CURRENT LIABILITIES

1,200,590

1,221,518

CREDITORS

Amounts falling due after more than one year

8

(2,721

)

(5,769

)

PROVISIONS FOR LIABILITIES

(3,079

)

(4,532

)

NET ASSETS

1,194,790

1,211,217

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

1,194,690

1,211,117

SHAREHOLDERS' FUNDS

1,194,790

1,211,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 26 October 2018 and were signed on its behalf by:

P G Cox - Director

R E Cox - Director

M G Cox - Director

1.	STATUTORY INFORMATION

A L Cox & Sons 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover comprises of revenue recognised in relation to the sale of different elements of Grain exclusive of

Value Added Tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 25% on cost, 20% on reducing balance and Straight line over 10 years

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell. Stock is recognised per

Tonne and allowances are made for any obsolete stocks.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial

position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement on a straight line basis over the

period of the lease.

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 Income Statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2017

and 31 May 2018

500,000

AMORTISATION

At 1 June 2017

100,000

Charge for year

25,000

At 31 May 2018

125,000

NET BOOK VALUE

At 31 May 2018

375,000

At 31 May 2017

400,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2017

and 31 May 2018

78,523

DEPRECIATION

At 1 June 2017

43,338

Charge for year

7,779

At 31 May 2018

51,117

NET BOOK VALUE

At 31 May 2018

27,406

At 31 May 2017

35,185

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,201,154

1,154,401

Other debtors

651,055

612,182

1,852,209

1,766,583

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

3,048

2,910

Trade creditors

1,253,550

1,013,537

Taxation and social security

41,124

92,511

Other creditors

12,817

12,395

1,310,539

1,121,353

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

2,721

5,769

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There are, included in other debtors, directors loan accounts totalling £240,051 brought forward (2017:

£171,935 ). During the year, the directors of the company borrowed £228,771 (2017: £340,948) from the

company and repaid £244,194 (2017: £272,832). The balances at the end of the year totalled £224,628 due to

the company (2017: £240,051 overdrawn).