Registered Number 02181664
STAINLESS & ALLOY PRODUCTS LIMITED
Abbreviated Accounts
30 November 2015
Notes | 2015 | 2014 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
|
|
|
|
||
Current assets | |||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Total net assets (liabilities) |
|
|
|
Capital and reserves | |||
Called up share capital | 3 |
|
|
Share premium account |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
year.
Tangible assets depreciation policy
expected useful life, as follows:
Plant and machinery - 15% Reducing Balance
Fixtures, fittings
and equipment - 15-30% Reducing Balance
Motor vehicles - 25% Straight Line
Valuation information and policy
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
Pensions
The pension costs charged in the financial statements represent the contribution payable by the
company during the year.
Other accounting policies
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
£ | |
---|---|
Cost | |
At 1 December 2014 |
|
Additions |
|
Disposals |
( |
Revaluations |
|
Transfers |
|
At 30 November 2015 |
|
Depreciation | |
At 1 December 2014 |
|
Charge for the year |
|
On disposals |
( |
At 30 November 2015 |
|
Net book values | |
At 30 November 2015 | 31,294 |
At 30 November 2014 | 25,318 |