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Registration number: 00651060

A A Broughton & Son Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

M W Burrough & Co
Chartered Accountants
10 South Street
Bridport
Dorset
DT6 3NJ

 

A A Broughton & Son Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 5

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
A A Broughton & Son Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A A Broughton & Son Limited for the year ended 30 September 2016 set out on pages 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of A A Broughton & Son Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A A Broughton & Son Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A A Broughton & Son Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A A Broughton & Son Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A A Broughton & Son Limited. You consider that A A Broughton & Son 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 accounts of A A Broughton & Son 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 accounts.

......................................

M W Burrough & Co
Chartered Accountants
10 South Street
Bridport
Dorset
DT6 3NJ

28 June 2017

 

A A Broughton & Son Limited
(Registration number: 00651060)
Abbreviated Balance Sheet at 30 September 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

1,572,524

   

1,554,702

 

Current assets

 

             

Stocks

 

   

286,532

   

307,511

 

Debtors

 

   

45,530

   

139,225

 

Investments

 

   

45

   

45

 

Cash at bank and in hand

 

   

361,605

   

205,519

 
   

   

693,712

   

652,300

 

Creditors: Amounts falling due within one year

 

   

(138,189)

   

(108,796)

 

Net current assets

 

   

555,523

   

543,504

 

Total assets less current liabilities

 

   

2,128,047

   

2,098,206

 

Creditors: Amounts falling due after more than one year

 

   

(1,099,485)

   

(1,073,197)

 

Provisions for liabilities

 

   

(84,815)

   

(75,938)

 

Net assets

 

   

943,747

   

949,071

 

Capital and reserves

 

             

Called up share capital

 

4

   

11,792

   

11,792

 

Share premium account

 

   

686,309

   

686,309

 

Profit and loss account

 

   

245,646

   

250,970

 

Shareholders' funds

 

   

943,747

   

949,071

 

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 28 June 2017

.........................................
Mr James Donne Broughton
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

 

A A Broughton & Son Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Leasehold property

Straight line over the life of the lease

Plant and machinery

15% reducing balance

Tractors

30% reducing balance

Motor vehicles

25% reducing balance

Current asset investments

Current asset investments are included at the lower of cost and net realisable value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

 

A A Broughton & Son Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 October 2015

 

2,478,943

   

2,478,943

 

Additions

 

224,417

   

224,417

 

Disposals

 

(137,500)

   

(137,500)

 

At 30 September 2016

 

2,565,860

   

2,565,860

 

Depreciation

           

At 1 October 2015

 

924,241

   

924,241

 

Charge for the year

 

122,153

   

122,153

 

Eliminated on disposals

 

(53,058)

   

(53,058)

 

At 30 September 2016

 

993,336

   

993,336

 

Net book value

           

At 30 September 2016

 

1,572,524

   

1,572,524

 

At 30 September 2015

 

1,554,702

   

1,554,702

 
 

A A Broughton & Son Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

 

2016
£

   

2015
£

 

 

   

 

Amounts falling due within one year

 

19,300

   

18,992

 

Amounts falling due after more than one year

 

1,027,485

   

1,047,094

 

Total secured creditors

 

1,046,785

   

1,066,086

 

Included in the creditors are the following amounts due after more than five years:

 

2016
£

   

2015
£

 

 

   

 

After more than five years by instalments

 

950,284

   

971,126

 

4

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

11,692

   

11,692

   

11,692

   

11,692

 

Ordinary A of £1 each

 

100

   

100

   

100

   

100

 
   

11,792

   

11,792

   

11,792

   

11,792

 

5

Control

The company is controlled by shareholders.