|
|
2016 |
2015 |
|
|
£ |
£ |
|
Other receivables |
425,515 |
59,268 |
|
Other taxes |
4,786 |
18,532 |
|
Prepayment |
6,303 |
3,444 |
|
|
436,604 |
81,244 |
There are no receivables that are past due but not impaired at the period end. There are no provisions for irrecoverable debt included in the balances above.
All of the group’s cash and cash equivalents at 31 March 2016 are in sterling and held at floating interest rates.
|
|
2016 |
2015 |
|
|
£ |
£ |
|
Cash and cash equivalents |
278,406 |
490,770 |
The Directors consider that the carrying amount of cash and cash equivalents approximates to their fair value.
|
|
2016 |
2015 |
|
|
£ |
£ |
|
Work in progress |
2,275,546 |
1,884,250 |
|
|
2016 |
2015 |
|
|
£ |
£ |
|
Trade payables |
93,328 |
24,579 |
|
Accruals |
54,513 |
20,848 |
|
Tax |
2,050 |
2,015 |
|
Other payables |
2,258 |
23,335 |
|
|
152,149 |
70,777 |
|
|
2016 |
2015 |
|
|
£ |
£ |
|
Director’s loans |
2,121,924 |
2,566,961 |
|
Other loans |
1,100,000 |
765,000 |
|
Bank and other loans |
741,266 |
381,450 |
|
|
3,963,190 |
3,713,411 |
Included in other loans is the sum of £300,000 (2015: £300,000) advanced by the DFM Pension Scheme of which Mr J Dubois is the principal beneficiary. This loan bears interest at 12% per annum (2015: 12% per annum).
C C Johnson is a named guarantor on the loan included within bank loans.
The bank borrowings are repayable as follows:
|
|
2016 |
2015 |
|
|
£ |
£ |
|
On demand or within one year |
741,266 |
381,450 |
|
In the second year |
0 |
0 |
|
In the third to fifth years inclusive |
- |
- |
|
After five years |
741,266 |
381,450 |
|
|
|
|
|
Less amount due for settlement within 12 months (included in current liabilities) |
741,266 |
381,450 |
|
Amount due for settlement after 12 months |
0 |
0 |
The weighted average interest rates paid on the bank loans were as follows:
Bank Loans -
All of the Director’s loans are repayable after more than 1 year. All loans are interest bearing and charged accordingly. However Mr C C Johnson has waived his right to interest in the year and as a result interest of nil (2015: £nil) was paid to Mr C C Johnson. The rate of interest on the loan is 5% opa (2015: 5% pa). Interest of £36,000 (2015: £36,000) was paid to Mr J Dubois at the rate of 12% pa (2015: 12% pa).
Authorised share capital
|
0 |
2016 |
2015 |
|
|
Number |
Number |
|
Ordinary shares of 1p each - |
238,375,190 |
228,375,190 |
|
Additional shares issued for cash in year |
0 |
10,000,000 |
|
|
238,375,190 |
238,375,190 |
|
Issued, allotted and fully paid |
2016 |
2015 |
|
|
£ |
£ |
|
Ordinary shares of 1p each |
2,383,752 |
2,383,752 |
15. SHARE PREMIUM ACCOUNT
|
|
2016 |
2015 |
|
|
£ |
£ |
|
Balance brought forward |
1,165,463 |
1,075,513 |
|
Premium on issue of new shares |
0 |
100,000 |
|
Share issue costs |
0 |
(10,050) |
|
Balance carried forward |
1,165,463 |
1,165,463 |
16. RELATED PARTY TRANSACTIONS
Mr C C Johnson holds 78.4% (2015: 78.4%) of the total issued share capital of the Group.
The following working capital loans have been provided by the Directors:
|
|
2016 |
2015 |
|
|
£ |
£ |
|
C C Johnson |
|
|
|
Opening balance |
2,566,961 |
3,631,410 |
|
Loan repayments |
(421,255) |
(1,000,000) |
|
Personal drawings |
(23,782) |
(64,449) |
|
Interest payable |
0 |
0 |
|
Balance carried forward |
2,121,924 |
2,566,961 |
|
|
|
|
|
J Dubois |
300,000 |
300,000 |
Mr Johnson’s Loan bore interest during the year at 5% (2015: 5% pa), however he has chosen to forego the interest in the year. Mr Dubois’s Loan, which is from his Pension Fund of which he is the sole beneficiary, was at 12% pa interest (2015: 12% pa).
Mrs L C Howard (daughter of Mr C C Johnson) has provided a loan to the company at a rate of 10% per annum of £nil (2015: £100,000).
Mr G Howard (son-
During the year, the Directors agreed to sell 11 Oakhurst Park Gardens, Hildenborough Kent to Mr C C Johnson for a consideration of £525,000 (2015: £nil) being the market value.
17. SHARE OPTIONS AND WARRANTS
There are no share options or warrants.
Annual report & consolidated financial statements 2016
Page 2
| Accounting policies |
| Notes |
| Notes |
| Company Notes |