REGISTERED NUMBER: 06747063 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

AC AND DA RICHARDS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A C Richards

Mrs D A Richards

REGISTERED OFFICE:

The Firs

Penzance Road

Helston

Cornwall

TR13 8HN

REGISTERED NUMBER:

06747063 (England and Wales)

ACCOUNTANTS:

Kitchen & Brown

Chartered Accountants

Alpha House

40 Coinagehall Street

Helston

Cornwall

TR13 8EQ

FIXED ASSETS

Intangible assets

4

30,000

32,500

Tangible assets

5

192,380

211,116

222,380

243,616

CURRENT ASSETS

Stocks

650

750

Debtors

6

66,563

85,837

Cash at bank and in hand

304,624

290,871

371,837

377,458

CREDITORS

Amounts falling due within one year

7

77,278

156,126

NET CURRENT ASSETS

294,559

221,332

TOTAL ASSETS LESS CURRENT LIABILITIES

516,939

464,948

PROVISIONS FOR LIABILITIES

12,900

24,500

NET ASSETS

504,039

440,448

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

503,939

440,348

SHAREHOLDERS' FUNDS

504,039

440,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 19 June 2017 and were signed on its behalf by:

Mr A C Richards - Director

1.	STATUTORY INFORMATION

AC and DA Richards 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 represents net invoiced sales of services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of an unincorporated business on 1 January

2009, is being amortised evenly over 20 years. In the opinion of the directors, this represents a prudent estimate

of the period over which the company will derive direct economic benefit from acquiring the business.

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.

Tools and equipment

-

20% on reducing balance

The Firs - home furnishings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, 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 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.

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

The average number of employees during the year was 10 (2015 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

50,000

AMORTISATION

At 1 January 2016

17,500

Charge for year

2,500

At 31 December 2016

20,000

NET BOOK VALUE

At 31 December 2016

30,000

At 31 December 2015

32,500

5.	TANGIBLE FIXED ASSETS

The Firs

Tools and

- home

Motor

equipment

furnishings

vehicles

Totals

£

£

£

£

COST

At 1 January 2016

31,320

5,121

307,422

343,863

Additions

-

-

50,350

50,350

Disposals

-

-

(34,285

)

(34,285

)

At 31 December 2016

31,320

5,121

323,487

359,928

DEPRECIATION

At 1 January 2016

16,346

2,950

113,451

132,747

Charge for year

2,996

434

59,554

62,984

Eliminated on disposal

-

-

(28,183

)

(28,183

)

At 31 December 2016

19,342

3,384

144,822

167,548

NET BOOK VALUE

At 31 December 2016

11,978

1,737

178,665

192,380

At 31 December 2015

14,974

2,171

193,971

211,116

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

66,563

85,837

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

14,575

93,098

Taxation and social security

43,112

27,160

Other creditors

19,591

35,868

77,278

156,126

8.	RELATED PARTY DISCLOSURES

Included in other creditors is the directors' current account balance as follows:-

2016

2015

£

£

Mr and Mrs A C Richards

18,314

34,242

The current account is interest free and has no fixed date of repayment.

Dividends amounting to £48,000 were issued to the directors during the year (2015 : £44,000).

Remuneration including benefits were provided to the directors during the year amounting to £23,848 (2015:

£23,514).

9.	CONTROLLING PARTY

The company is controlled by Mr and Mrs A C Richards by virtue of their 100% shareholding.