REGISTERED NUMBER: 05761439 (England and Wales)

A L COX & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

P G Cox

R E Cox

M G Cox

REGISTERED OFFICE:

6 High Street

Metheringham

Lincoln

Lincolnshire

LN4 3EA

BUSINESS ADDRESS:

Enderley House

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

400,000

425,000

Tangible assets

5

35,185

45,521

435,185

470,521

CURRENT ASSETS

Stocks

56,526

9,407

Debtors

6

1,766,583

1,382,774

Cash at bank and in hand

84,577

126,854

1,907,686

1,519,035

CREDITORS

Amounts falling due within one year

7

1,121,353

950,614

NET CURRENT ASSETS

786,333

568,421

TOTAL ASSETS LESS CURRENT LIABILITIES

1,221,518

1,038,942

CREDITORS

Amounts falling due after more than one year

8

(5,769

)

(8,679

)

PROVISIONS FOR LIABILITIES

(4,532

)

(6,340

)

NET ASSETS

1,211,217

1,023,923

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

1,211,117

1,023,823

SHAREHOLDERS' FUNDS

1,211,217

1,023,923

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 2017 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.

The financial statements for the year ended 31st May 2017 are the first financial statements of A L Cox and

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

to the financial statements.

Turnover

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

rebates, value added tax and other sales taxes.

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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, after making due allowance

for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2016 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

500,000

AMORTISATION

At 1 June 2016

75,000

Charge for year

25,000

At 31 May 2017

100,000

NET BOOK VALUE

At 31 May 2017

400,000

At 31 May 2016

425,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

78,523

DEPRECIATION

At 1 June 2016

33,002

Charge for year

10,336

At 31 May 2017

43,338

NET BOOK VALUE

At 31 May 2017

35,185

At 31 May 2016

45,521

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,154,401

848,852

Other debtors

612,182

533,922

1,766,583

1,382,774

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 9)

2,910

2,772

Trade creditors

1,013,537

850,742

Taxation and social security

92,511

85,957

Other creditors

12,395

11,143

1,121,353

950,614

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 9)

5,769

8,679

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2017

2016

£

£

Net obligations repayable:

Within one year

2,910

2,772

Between one and five years

5,769

8,679

8,679

11,451

Non-cancellable operating

leases

2017

2016

£

£

Within one year

24,000

24,000

Between one and five years

72,000

96,000

96,000

120,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2017 and

31 May 2016:

2017

2016

£

£

P G Cox

Balance outstanding at start of year

10,167

(90,275

)

Amounts advanced

61,142

158,615

Amounts repaid

(57,611

)

(58,173

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,698

10,167

R E Cox

Balance outstanding at start of year

2,598

(92,321

)

Amounts advanced

69,865

152,855

Amounts repaid

(57,611

)

(57,936

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,852

2,598

M G Cox

Balance outstanding at start of year

159,170

(58,084

)

Amounts advanced

209,942

275,190

Amounts repaid

(157,611

)

(57,936

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

211,501

159,170

12.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the period ended 31 May 2017. The reported financial

position and financial performance for the previous period are not affected by the transition to FRS 102.