Company Registration No. 00250773 (England and Wales)
SECOMAK LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
SECOMAK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SECOMAK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
63,432
70,015
Tangible assets
2
78,086
104,243
141,518
174,258
Current assets
Stocks
709,479
708,680
Debtors
2,475,761
2,810,867
Cash at bank and in hand
105,494
129,045
3,290,734
3,648,592
Creditors: amounts falling due within one year
3
(1,056,175)
(1,620,979)
Net current assets
2,234,559
2,027,613
Total assets less current liabilities
2,376,077
2,201,871
2,376,077
2,201,871
Capital and reserves
Called up share capital
4
41,352
41,352
Profit and loss account
2,334,725
2,160,519
Shareholders' funds
2,376,077
2,201,871
For the financial year ended 31 March 2015 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 22 October 2015
Mr J F Moore
Mr I D Roffe
Director
Director
Company Registration No. 00250773
SECOMAK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 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 April 2008).
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.
1.10
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.
SECOMAK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
131,651
542,748
674,399
Additions
-
14,349
14,349
Disposals
-
(7,432)
(7,432)
At 31 March 2015
131,651
549,665
681,316
Depreciation
At 1 April 2014
61,636
438,505
500,141
On disposals
-
(2,979)
(2,979)
Charge for the year
6,583
36,053
42,636
At 31 March 2015
68,219
471,579
539,798
Net book value
At 31 March 2015
63,432
78,086
141,518
At 31 March 2014
70,015
104,243
174,258
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £479,412 (2014 - £719,791).
4
Share capital
2015
2014
£
£
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.