Registered number
04935185
A & J SHERRY LIMITED
Filleted Accounts
31 October 2017
A & J SHERRY LIMITED
Registered number: 04935185
Balance Sheet
as at 31 October 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 4,426 5,871
Current assets
Debtors 3 11,721 11,249
Cash at bank and in hand 4,324 6,528
16,045 17,777
Creditors: amounts falling due within one year 4 (7,710) (5,501)
Net current assets 8,335 12,276
Total assets less current liabilities 12,761 18,147
Provisions for liabilities - (1,174)
Net assets 12,761 16,973
Capital and reserves
Called up share capital 100 100
Profit and loss account 12,661 16,873
Shareholders' funds 12,761 16,973
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Andrew James Sherry
Director
Approved by the board on 5 July 2018
A & J SHERRY LIMITED
Notes to the Accounts
for the year ended 31 October 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2016 2,083 47,300 49,383
At 31 October 2017 2,083 47,300 49,383
Depreciation
At 1 November 2016 1,610 41,902 43,512
Charge for the year 95 1,350 1,445
At 31 October 2017 1,705 43,252 44,957
Net book value
At 31 October 2017 378 4,048 4,426
At 31 October 2016 473 5,398 5,871
3 Debtors 2017 2016
£ £
Trade debtors 7,821 10,305
Other debtors 3,900 944
11,721 11,249
4 Creditors: amounts falling due within one year 2017 2016
£ £
Corporation tax 496 362
Director's account 6,014 3,839
Other creditors 1,200 1,300
7,710 5,501
5 Controlling party
The company was controlled throughout the current and previous year by the director who is also a shareholder in the company.
6 Other information
A & J SHERRY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
60 Hollowell Road
Northwood
Middlesex
HA6 1DS
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