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Financial Statements |
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for the Year Ended 30 April 2017 |
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for |
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Stevron Industrial Supplies Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 30 April 2017 |
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for |
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Stevron Industrial Supplies Limited |
Stevron Industrial Supplies Limited (Registered number: 04393619) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Stevron Industrial Supplies Limited |
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Company Information |
for the Year Ended 30 April 2017 |
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DIRECTOR: |
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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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Oriel House |
2-8 Oriel Road |
Bootle |
Liverpool |
Merseyside |
L20 7EP |
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BANKERS: |
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Corner of Longmoor Lane Cedar Road |
Aintree |
Liverpool |
Merseyside |
L9 0EG |
Stevron Industrial Supplies Limited (Registered number: 04393619) |
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Balance Sheet |
30 April 2017 |
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30.4.17 | 30.4.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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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 | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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Stevron Industrial Supplies Limited (Registered number: 04393619) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2017 |
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1. | STATUTORY INFORMATION |
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Stevron Industrial Supplies Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the value of goods sold during the period, net of VAT and trade discounts. Turnover is |
recognised when goods are physically delivered to the customer. |
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Tangible fixed assets |
Fixed assets are recognised at historical cost less depreciation. Depreciation is provided at the following annual |
rates in order to write off each asset over its estimated useful life. |
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Fixtures and fittings | - 15% on reducing balance |
Computer equipment | - 15% on reducing balance |
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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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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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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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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Stevron Industrial Supplies Limited (Registered number: 04393619) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2016 |
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Additions |
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Disposals | ( |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Fixtures |
and |
fittings |
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COST |
At 1 May 2016 |
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Transfer to ownership | (6,590 | ) |
At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Transfer to ownership | (2,543 | ) |
At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Trade debtors |
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Other debtors |
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Stevron Industrial Supplies Limited (Registered number: 04393619) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.4.17 | 30.4.16 |
£ | £ |
Hire purchase contracts | - | 1,647 |
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The hire purchase debt is secured by the assets to which they relate to. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.17 | 30.4.16 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
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9. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its financial statements under Financial Reporting |
Standard 102 (FRS102 1A) issued by the Financial Reporting Council. |
The last financial statements, for the year ended 30th April 2016, were prepared under previous UK GAAP. The |
transition date to FRS 102 is therefore 1st May 2015. |
Under the new accounting standards no adjustments were required this year, last year or at the transition date. |