Company Registration No. 03857594 (England and Wales)
S.A.C. ROOFING SPECIALIST LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
S.A.C. ROOFING SPECIALIST LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
S.A.C. ROOFING SPECIALIST LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF S.A.C. ROOFING SPECIALIST LIMITED FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of S.A.C. Roofing Specialist Limited for the year ended 31 March 2015 set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of S.A.C. Roofing Specialist Limited, as a body, in accordance with the terms of our engagement letter dated 5 July 2012.
It is your duty to ensure that S.A.C. Roofing Specialist 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 S.A.C. Roofing Specialist Limited. You consider that S.A.C. Roofing Specialist Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of S.A.C. Roofing Specialist 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.
Jackson Calvert
2 June 2015
Chartered Accountants
Bennett Corner House
33 Coleshill Street
Sutton Coldfield
West Midlands
B72 1SD
S.A.C. ROOFING SPECIALIST LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
4,000
8,000
Tangible assets
2
187,232
189,594
191,232
197,594
Current assets
Debtors
15,263
27,798
Cash at bank and in hand
7,840
18,380
23,103
46,178
Creditors: amounts falling due within one year
(39,728)
(67,840)
Net current liabilities
(16,625)
(21,662)
Total assets less current liabilities
174,607
175,932
Creditors: amounts falling due after more than one year
(100,000)
(100,000)
Provisions for liabilities
(1,447)
(1,918)
73,160
74,014
Capital and reserves
Called up share capital
3
20,000
20,000
Revaluation reserve
53,092
53,092
Profit and loss account
68
922
Shareholders' funds
73,160
74,014
S.A.C. ROOFING SPECIALIST LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 3 -
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 2 June 2015
Mr S Colston
Director
Company Registration No. 03857594
S.A.C. ROOFING SPECIALIST LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings 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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Freehold land and buildings
Nil
Plant and machinery
25% reducing balance
Computer equipment
25% reducing balance
Office furniture and fittings
25% reducing balance
Motor vehicles
25% reducing balance
No depreciation is provided in respect of freehold land. Where buildings are maintained to such a high standard that their residual value is not less than their cost or valuation then no depreciation is charged as it is not material.
1.6
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.
1.7
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.
S.A.C. ROOFING SPECIALIST LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 5 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost or valuation
At 1 April 2014
40,000
199,899
239,899
Additions
-
54
54
At 31 March 2015
40,000
199,953
239,953
Depreciation
At 1 April 2014
32,000
10,305
42,305
Charge for the year
4,000
2,416
6,416
At 31 March 2015
36,000
12,721
48,721
Net book value
At 31 March 2015
4,000
187,232
191,232
At 31 March 2014
8,000
189,594
197,594
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
20,000 Ordinary shares of £1 each
20,000
20,000
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