REGISTERED NUMBER:
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SMITH AND AUSTIN ENGINEERING PRODUCTS |
LIMITED |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 MARCH 2015 |
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REGISTERED NUMBER:
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SMITH AND AUSTIN ENGINEERING PRODUCTS |
LIMITED |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 MARCH 2015 |
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SMITH AND AUSTIN ENGINEERING PRODUCTS |
LIMITED (REGISTERED NUMBER: 01017887) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
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Chartered Accountants' Report | 5 |
SMITH AND AUSTIN ENGINEERING PRODUCTS |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2015 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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BANKERS: |
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SMITH AND AUSTIN ENGINEERING PRODUCTS |
LIMITED (REGISTERED NUMBER: 01017887) |
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ABBREVIATED BALANCE SHEET |
31 MARCH 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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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 |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Revaluation reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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The financial statements were approved by the Board of Directors on
by: |
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SMITH AND AUSTIN ENGINEERING PRODUCTS |
LIMITED (REGISTERED NUMBER: 01017887) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
2008). |
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Preparation of consolidated financial statements |
The financial statements contain information about Smith and Austin Engineering Products Limited as an |
individual company and do not contain consolidated financial information as the parent of a group. The company |
has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial |
statements. |
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Turnover |
Turnover represents the value of goods and services supplied, excluding value added tax. |
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Income is generated from undertaking sheet metal fabrication and is recognised when the work is complete. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures & computers | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company makes contributions to the directors' personal pension schemes. Contributions payable are |
charged to the profit and loss account in the period to which they relate. |
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Investment properties |
In accordance with Statement of Standard Accounting Practice No.19, certain of the company's properties are |
held for long-term investment and are included in the Balance Sheet at their open market values. The surplus or |
deficit arising on revaluation of such properties are transferred to the investment property revaluation reserve. |
Depreciation is not provided in respect of freehold investment properties. |
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This policy represents a departure from statutory accounting principles, which require depreciation to be |
provided on all fixed assets. The directors consider that this policy is necessary in order that the Financial |
Statements may give a true and fair view because current values and changes in current values are of prime |
importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many |
factors reflected in the valuation and the amount which might otherwise have been shown and cannot be |
separately identified or quantified. |
SMITH AND AUSTIN ENGINEERING PRODUCTS |
LIMITED (REGISTERED NUMBER: 01017887) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 MARCH 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST OR VALUATION |
At 1 April 2014 |
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Additions |
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Disposals | ( |
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At 31 March 2015 |
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DEPRECIATION |
At 1 April 2014 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2015 |
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NET BOOK VALUE |
At 31 March 2015 |
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At 31 March 2014 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
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COST |
At 1 April 2014 |
and 31 March 2015 | 100 |
NET BOOK VALUE |
At 31 March 2015 |
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At 31 March 2014 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Nature of business:
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Class of shares: | holding |
Ordinary £1 shares | 100.00 |
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£ | £ |
Aggregate capital and reserves | (20,969 | ) | (20,969 | ) |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | £1 |
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SMITH AND AUSTIN ENGINEERING PRODUCTS |
LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Smith and Austin Engineering Products Limited for the year ended 31 March 2015 which |
comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records |
and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of Smith and Austin Engineering Products Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Smith and Austin Engineering Products Limited and state those matters that we have agreed to state to the Board of Directors of Smith and Austin Engineering Products Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Smith and Austin Engineering Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Smith and Austin Engineering Products Limited. You consider that Smith and Austin Engineering Products Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Smith and Austin |
Engineering Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting |
records or information and explanations you have given to us and we do not, therefore, express any opinion on the |
statutory financial statements. |
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Chartered Accountants |
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22 December 2015 |