Registered Number 00324541
J.LOUDEN & CO.LIMITED
Abbreviated Accounts
30 September 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Other reserves |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Plant and machinery 25% reducing balance
Computer equipment 33% straight line
Fixtures, fittings & equipment 10% reducing balance
No depreciation is provided on freehold land and buildings . This policy represents a departure from the Financial Reporting Standard for Smaller Entities, which requires all assets to be depreciated over their expected useful lives. The directors consider that this policy is necessary in order that the financial statements may give a true and fair view.
Other accounting policies
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Stock
Stock is valued at the lower of cost and net realisable value.
Pensions
The company contributes to executive pension schemes on behalf of the director and one employee. Employers' contributions are charged against profits.
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
£ | |
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Cost | |
At 1 October 2015 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 30 September 2016 |
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Depreciation | |
At 1 October 2015 |
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Charge for the year |
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On disposals |
( |
At 30 September 2016 |
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Net book values | |
At 30 September 2016 | 32,969 |
At 30 September 2015 | 43,542 |