Caseware UK (AP4) 2016.0.181 2016.0.181 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrueNo description of principal activityfalse2016-05-01 00555871 2016-05-01 2017-04-30 00555871 2015-05-01 2016-04-30 00555871 2017-04-30 00555871 2016-04-30 00555871 c:Director2 2016-05-01 2017-04-30 00555871 d:Buildings 2016-05-01 2017-04-30 00555871 d:Buildings 2016-04-30 00555871 d:PlantMachinery 2016-05-01 2017-04-30 00555871 d:PlantMachinery 2017-04-30 00555871 d:PlantMachinery 2016-04-30 00555871 d:PlantMachinery d:OwnedOrFreeholdAssets 2016-05-01 2017-04-30 00555871 d:OtherPropertyPlantEquipment 2016-05-01 2017-04-30 00555871 d:OtherPropertyPlantEquipment 2017-04-30 00555871 d:OtherPropertyPlantEquipment 2016-04-30 00555871 d:OwnedOrFreeholdAssets 2016-05-01 2017-04-30 00555871 d:Goodwill 2016-05-01 2017-04-30 00555871 d:Goodwill 2017-04-30 00555871 d:Goodwill 2016-04-30 00555871 d:CurrentFinancialInstruments 2017-04-30 00555871 d:CurrentFinancialInstruments 2016-04-30 00555871 d:CurrentFinancialInstruments d:WithinOneYear 2017-04-30 00555871 d:CurrentFinancialInstruments d:WithinOneYear 2016-04-30 00555871 d:ShareCapital 2017-04-30 00555871 d:ShareCapital 2016-04-30 00555871 d:SharePremium 2017-04-30 00555871 d:SharePremium 2016-04-30 00555871 d:RevaluationReserve 2017-04-30 00555871 d:RevaluationReserve 2016-04-30 00555871 d:RetainedEarningsAccumulatedLosses 2017-04-30 00555871 d:RetainedEarningsAccumulatedLosses 2016-04-30 00555871 c:FRS102 2016-05-01 2017-04-30 00555871 c:AuditExempt-NoAccountantsReport 2016-05-01 2017-04-30 00555871 c:FullAccounts 2016-05-01 2017-04-30 00555871 c:PrivateLimitedCompanyLtd 2016-05-01 2017-04-30 iso4217:GBP xbrli:pure

Registered number: 00555871










A.Booker & Son Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 April 2017

 
A.Booker & Son Limited
Registered number: 00555871

Balance Sheet
As at 30 April 2017

2017
2016
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
1,250

Tangible assets
 5 
1,961,654
1,376,122

  
1,961,654
1,377,372

Current assets
  

Debtors: amounts falling due within one year
 6 
3,636
1,581

Cash at bank and in hand
 7 
68,089
74,055

  
71,725
75,636

Creditors: amounts falling due within one year
 8 
(436,323)
(423,688)

Net current liabilities
  
 
 
(364,598)
 
 
(348,052)

Total assets less current liabilities
  
1,597,056
1,029,320

Provisions for liabilities
  

Deferred tax
  
(45,000)
(57,000)

  
 
 
(45,000)
 
 
(57,000)

Net assets
  
1,552,056
972,320

Page 1

 
A.Booker & Son Limited
Registered number: 00555871

Balance Sheet (continued)
As at 30 April 2017

2017
2016
£
£

Capital and reserves
  

Called up share capital 
  
4,000
4,000

Share premium account
  
8,000
8,000

Revaluation reserve
  
1,353,925
756,334

Profit and loss account
  
186,131
203,986

  
1,552,056
972,320


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
G K Pilkington
Director
Date: 14 January 2018
The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
A.Booker & Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2017

1.


General information

The Company is a private company limited by share capital incorporated in England and Wales
The registered office of the business is:
The William Booker Yard
Walberton
Arundel
West Sussex
BN18 0PF

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover represents the value of rental income receivable by the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that the future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 
2.3

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life of 20 years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
A.Booker & Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2017

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery

10 - 15% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
A.Booker & Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2017

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

 
2.11

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

 
A.Booker & Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2017

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

Staff costs were as follows:


The average monthly number of employees, including directors, during the year was 3 (2016 - 3).

Page 6

 
A.Booker & Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2017

4.


Intangible assets




Goodwill

£



Cost


At 1 May 2016
13,000



At 30 April 2017

13,000



Amortisation


At 1 May 2016
11,750


Charge for the year
1,250



At 30 April 2017

13,000



Net book value



At 30 April 2017
-



At 30 April 2016
1,250


5.


Tangible fixed assets





Investment properties
Plant and machinery
Holiday Lets
Total

£
£
£
£



Cost or valuation


At 1 May 2016
1,036,177
26,425
339,409
1,402,011


Disposals
-
(25,835)
-
(25,835)


Transfers between classes
339,409
-
(339,409)
-


Revaluations
585,591
-
-
585,591



At 30 April 2017

1,961,177
590
-
1,961,767



Depreciation


At 1 May 2016
-
25,889
-
25,889


Charge for the year on owned assets
-
59
-
59


Disposals
-
(25,835)
-
(25,835)



At 30 April 2017

-
113
-
113



Net book value



At 30 April 2017
1,961,177
477
-
1,961,654



At 30 April 2016
1,036,177
536
339,409
1,376,122

Page 7

 
A.Booker & Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2017

           5.Tangible fixed assets (continued)

The Investment Properties class of fixed asset was revalued on 09 September 2011 by a valuer who is external to the company. The properties previously used as holiday lets and included in the accounts at cost  were transferred to the Investment Properties class of asset and revalued.  The basis of this valuation was at open market value.  The directors have considered the valuations at the year end and no change is required.   
Had this class of asset been measured on a historical cost basis, the aggregate cost would have been £562,252 (2016: £562,252).  Cummulative depreaciation on this historical cost would have been £175,216 (2016 £163,971).


6.


Debtors

2017
2016
£
£


Prepayments and accrued income
3,636
1,581

3,636
1,581



7.


Cash and cash equivalents

2017
2016
£
£

Cash at bank and in hand
68,089
74,055

68,089
74,055



8.


Creditors: Amounts falling due within one year

2017
2016
£
£

Other creditors
385,763
364,693

Accruals and deferred income
50,560
58,995

436,323
423,688


Page 8

 
A.Booker & Son Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 April 2017

9.


First time adoption of FRS 102

The Company transitioned to FRS 102 from previously extant UK GAAP as at 1 May 2015. The impact of the transition to FRS 102 is as follows:

Reconciliation of equity at 1 May 2015

        £
Equity at 1 May 2015 under previous UK GAAP

  
1,049,377

Deferred tax

  
(70,000)

Equity shareholders funds at 1 May 2015 under FRS 102

  
 
979,377



Reconciliation of equity at 30 April 2016

        £
Equity at 30 April 2016 under previous UK GAAP

  
1,029,320

Deferred tax

  
(57,000)

Equity shareholders funds at 30 April 2016 under FRS 102

  
 
972,320


Reconciliation of profit and loss account for the year ended 30 April 2016

        £
Profit for the year under previous UK GAAP

  
(8,057)

Deferred tax

  
13,000

Profit for the year ended 30 April 2016 under FRS 102

  
 
4,943


The following were changes in accounting policies arising from the transition to FRS 102:

1

Under old UK GAAP no deferred taxation was provided on the investment property valuation gains. Under FRS 102 deferred taxation is provided on these gains at a rate expected to apply when the property is sold and recognised in the profit and loss account and then transferred to the non-distributable reserve.  This represents a change in accounting policy. 
 
Under old UK GAAP investment property valuation gains or losses were recognised directly in the revaluation reserve. Under FRS102 the investment property valuation gains or losses are recognised in the profit and loss account and transferred to a non-distributable revaluation reserve. This represents a change in accounting policy.


Page 9