Company Registration No. 01886099 (England and Wales)
ALAN DAVIES (STAINLESS) LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
ALAN DAVIES (STAINLESS) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ALAN DAVIES (STAINLESS) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
29,164
34,286
Current assets
Stocks
21,300
28,565
Debtors
114,047
96,646
Cash at bank and in hand
4,672
44,954
140,019
170,165
Creditors: amounts falling due within one year
(120,885)
(149,605)
Net current assets
19,134
20,560
Total assets less current liabilities
48,298
54,846
Creditors: amounts falling due after more than one year
(6,462)
(9,956)
Provisions for liabilities
(5,832)
(6,860)
36,004
38,030
Capital and reserves
Called up share capital
3
150
150
Other reserves
350
350
Profit and loss account
35,504
37,530
Shareholders' funds
36,004
38,030
ALAN DAVIES (STAINLESS) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
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 19 December 2016
Mr J Hilton
Director
Company Registration No. 01886099
ALAN DAVIES (STAINLESS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 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 January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services provided to customers, net of VAT. Generally, sales are recognised when the goods and services are invoiced to customers, which is normally on completion of the work or supply of the goods. Provision is made for goods supplied and work completed or part-completed at year end, but not yet invoiced.
1.3
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:
Land and buildings leasehold
Straight line over the life of the lease
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
1.4
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its
directors
. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
ALAN DAVIES (STAINLESS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
186,560
Additions
1,672
At 31 March 2016
188,232
Depreciation
At 1 April 2015
152,274
Charge for the year
6,794
At 31 March 2016
159,068
Net book value
At 31 March 2016
29,164
At 31 March 2015
34,286
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
150 Ordinary shares of £1 each
150
150