Company Registration No. 00250773 (England and Wales)
SECOMAK LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
SECOMAK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SECOMAK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
56,849
63,432
Tangible assets
2
74,777
78,086
131,626
141,518
Current assets
Stocks
754,850
709,479
Debtors
2,516,563
2,475,761
Cash at bank and in hand
438,807
105,494
3,710,220
3,290,734
Creditors: amounts falling due within one year
3
(1,277,864)
(1,056,175)
Net current assets
2,432,356
2,234,559
Total assets less current liabilities
2,563,982
2,376,077
2,563,982
2,376,077
Capital and reserves
Called up share capital
4
41,352
41,352
Profit and loss account
2,522,630
2,334,725
Shareholders' funds
2,563,982
2,376,077
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 14 November 2016
Mr J F Moore
Director
Company Registration No. 00250773
SECOMAK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets 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:
Plant and machinery
8% - 33% straight line
Computer equipment
20% - 33% straight line
Fixtures, fittings and equipment
8% - 20% straight line
Motor vehicles
20% straight line
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
1.8
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.9
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.
SECOMAK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
131,651
549,665
681,316
Additions
-
24,413
24,413
Disposals
-
(13,656)
(13,656)
At 31 March 2016
131,651
560,422
692,073
Depreciation
At 1 April 2015
68,219
471,579
539,798
On disposals
-
(12,576)
(12,576)
Charge for the year
6,583
26,642
33,225
At 31 March 2016
74,802
485,645
560,447
Net book value
At 31 March 2016
56,849
74,777
131,626
At 31 March 2015
63,432
78,086
141,518
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £74,924 (2015 - £479,412).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
413,520 Ordinary shares of 10p each
41,352
41,352
5
Ultimate parent company
The ultimate parent company is Abbots 381 Limited by virtue of its holding of the entire share capital in Secomak Holdings Limited, the immediate parent company.