REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st December 2016 |
for |
Boydell & Jacks Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st December 2016 |
for |
Boydell & Jacks Limited |
Boydell & Jacks Limited (Registered number: 01438861) |
Contents of the Financial Statements |
for the Year Ended 31st December 2016 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Boydell & Jacks Limited |
Company Information |
for the Year Ended 31st December 2016 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Boydell & Jacks Limited (Registered number: 01438861) |
Balance Sheet |
31st December 2016 |
31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Boydell & Jacks Limited (Registered number: 01438861) |
Balance Sheet - continued |
31st December 2016 |
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 by: |
Boydell & Jacks Limited (Registered number: 01438861) |
Notes to the Financial Statements |
for the Year Ended 31st December 2016 |
1. | STATUTORY INFORMATION |
Boydell & Jacks Limited is a |
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 statement for the year ended 31 December 2016 are the first financial statements that comply |
with FRS 102 Section 1A "Small Entities". The date of transition is 1 January 2014. |
In the transition to FRS 102 Section 1A "Small Entities" from UK GAAP, the company has made no |
measurement and recognition adjustments. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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 |
Freehold property | - |
Long leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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. |
For work in progress and finished goods manufactured by the company, cost is taken as production cost, which |
includes an appropriate proportion of attributable overheads. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 |
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's statements if financial position when the company |
becomes party to the contractual provisions of the instrument. |
Basic financial instruments are recognised at amortised cost with changes recognised in the income statement. |
Boydell & Jacks Limited (Registered number: 01438861) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2016 |
2. | ACCOUNTING POLICIES - continued |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Boydell & Jacks Limited (Registered number: 01438861) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2016 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st January 2016 |
and 31st December 2016 |
AMORTISATION |
At 1st January 2016 |
Charge for year |
At 31st December 2016 |
NET BOOK VALUE |
At 31st December 2016 |
At 31st December 2015 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st January 2016 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st December 2016 |
DEPRECIATION |
At 1st January 2016 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st December 2016 |
NET BOOK VALUE |
At 31st December 2016 |
At 31st December 2015 |
The market value of the freehold property and short term leasehold property are in the opinion of the directors |
not materially different to their net book value. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
Other debtors |
Boydell & Jacks Limited (Registered number: 01438861) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2016 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.16 | 31.12.15 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.16 | 31.12.15 |
£ | £ |
Pension scheme loan | 36,000 | 5,500 |
The loan borrowed from The Jacks Group Executive Pension Scheme is secured by legal charges on units 21-23 |
Marlborough Street, Burnley. The loan was satisfied in full after the year end. |
The company's bank facilities are secured by a debenture in favour of Barclays Bank plc over the whole of the |
undertaking its property and assets. The company's overdraft at 31 December 2016 amounted to £nil. |
10. | ULTIMATE CONTROLLING PARTY |
The company was controlled throughout the year by the Directors, Mr S A Jacks and Mr C M Jacks. |