Company Registration No. 01842704 (England and Wales)
CAPCO PALMER STEELS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
CAPCO PALMER STEELS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
CAPCO PALMER STEELS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
226,294
207,211
Current assets
Stocks
633,775
601,583
Debtors
1,416,225
1,320,194
Cash at bank and in hand
2,795
63,617
2,052,795
1,985,394
Creditors: amounts falling due within one year
(1,225,151)
(1,171,236)
Net current assets
827,644
814,158
Total assets less current liabilities
1,053,938
1,021,369
Creditors: amounts falling due after more than one year
(18,455)
(39,816)
Provisions for liabilities
(37,188)
(31,599)
998,295
949,954
Capital and reserves
Called up share capital
3
20,000
20,000
Profit and loss account
978,295
929,954
Shareholders' funds
998,295
949,954
CAPCO PALMER STEELS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 2 -
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 21 December 2015
Mr M L Turley
Director
Company Registration No. 01842704
CAPCO PALMER STEELS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
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 (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
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 and office equipment
10% on cost
Motor vehicles
25% on cost
1.5
Stock
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.6
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.
CAPCO PALMER STEELS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014
380,008
Additions
59,745
Disposals
(10,590)
At 31 March 2015
429,163
Depreciation
At 1 April 2014
172,797
On disposals
(10,590)
Charge for the year
40,662
At 31 March 2015
202,869
Net book value
At 31 March 2015
226,294
At 31 March 2014
207,211
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
20,000 Ordinary shares of £1 each
20,000
20,000