Registered Number 00324541

J.LOUDEN & CO.LIMITED

Abbreviated Accounts

30 September 2016

J.LOUDEN & CO.LIMITED Registered Number 00324541

Abbreviated Balance Sheet as at 30 September 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 32,969 43,542
32,969 43,542
Current assets
Stocks 247,460 347,889
Debtors 492,035 686,407
Cash at bank and in hand 362,031 77,086
1,101,526 1,111,382
Creditors: amounts falling due within one year (171,849) (221,720)
Net current assets (liabilities) 929,677 889,662
Total assets less current liabilities 962,646 933,204
Provisions for liabilities (2,801) -
Total net assets (liabilities) 959,845 933,204
Capital and reserves
Called up share capital 3 14,500 14,500
Other reserves 500 500
Profit and loss account 944,845 918,204
Shareholders' funds 959,845 933,204
  • 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 directors acknowledge their 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 Board on 30 March 2017

And signed on their behalf by:
P K Louden, Director

J.LOUDEN & CO.LIMITED Registered Number 00324541

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is
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
Leasing
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.

2Tangible fixed assets
£
Cost
At 1 October 2015 141,187
Additions 2,097
Disposals (130)
Revaluations -
Transfers -
At 30 September 2016 143,154
Depreciation
At 1 October 2015 97,645
Charge for the year 12,583
On disposals (43)
At 30 September 2016 110,185
Net book values
At 30 September 2016 32,969
At 30 September 2015 43,542
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
14,500 Ordinary shares of £1 each 14,500 14,500