Registered number |
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Registered number: |
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Abbreviated Balance Sheet | |||||||
as at |
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Notes | 2015 | 2014 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 |
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Current assets | |||||||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | ( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | ( |
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Provisions for liabilities | ( |
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Net assets |
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Capital and reserves | |||||||
Called up share capital | 5 |
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Profit and loss account |
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Shareholders' funds |
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A J Best | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Abbreviated Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Turnover | ||||||||
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Depreciation | ||||||||
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. | ||||||||
Leasehold property |
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Plant and machinery |
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Computer equipment |
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Motor vehicles |
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Stocks | ||||||||
Stock is valued at the lower of cost and net realisable value. Where the outcome of a long term contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion. This is measured by the proportion that contract costs incurred to date bear to the estimated total contract costs. Where the outcome of a long term contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When it is probable that the total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. |
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Deferred taxation | ||||||||
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. | ||||||||
Foreign currencies | ||||||||
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. | ||||||||
Leasing and hire purchase commitments | ||||||||
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
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Pensions | ||||||||
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. | ||||||||
2 | Intangible fixed assets | £ | ||||||
Cost | ||||||||
At 1 January 2015 |
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At 31 December 2015 |
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Amortisation | ||||||||
At 1 January 2015 |
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At 31 December 2015 |
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Net book value | ||||||||
At 31 December 2015 | - | |||||||
3 | Tangible fixed assets | £ | ||||||
Cost | ||||||||
At 1 January 2015 |
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Additions |
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Disposals | ( |
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At 31 December 2015 |
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Depreciation | ||||||||
At 1 January 2015 |
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Charge for the year |
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On disposals | ( |
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At 31 December 2015 |
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Net book value | ||||||||
At 31 December 2015 |
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At 31 December 2014 |
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4 | Loans | 2015 | 2014 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Secured bank loans |
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5 | Share capital | Nominal | 2015 | 2015 | 2014 | |||
value | Number | £ | £ | |||||
Allotted, called up and fully paid: | ||||||||
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£ |
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6 | Loans to directors | |||||||
Description and conditions | B/fwd | Paid | Repaid | C/fwd | ||||
£ | £ | £ | £ | |||||
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