Company Registration No. 08428537 (England and Wales)
SWILLINGTON SHOOTING SUPPLIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
SWILLINGTON SHOOTING SUPPLIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
SWILLINGTON SHOOTING SUPPLIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
595,000
781,336
Tangible assets
2
48,241
32,200
643,241
813,536
Current assets
Stocks
1,487,474
1,511,620
Debtors
14,141
1,454
Cash at bank and in hand
67,431
29,249
1,569,046
1,542,323
Creditors: amounts falling due within one year
(1,887,030)
(2,104,019)
Net current liabilities
(317,984)
(561,696)
Total assets less current liabilities
325,257
251,840
Provisions for liabilities
(9,433)
(3,921)
315,824
247,919
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
315,724
247,819
Shareholders' funds
315,824
247,919
SWILLINGTON SHOOTING SUPPLIES 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 16 December 2016
Mr Andrew Chapman
Director
Company Registration No. 08428537
SWILLINGTON SHOOTING SUPPLIES 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 net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
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:
Plant and machinery
10% Straight line
Fixtures, fittings & equipment
20% and 25% Straight line
Motor vehicles
20% Straight line
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
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.
SWILLINGTON SHOOTING SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
975,000
107,524
1,082,524
Additions
-
42,877
42,877
Disposals
-
(44,217)
(44,217)
At 31 March 2016
850,000
106,184
956,184
Depreciation
At 1 April 2015
193,664
75,323
268,987
On disposals
-
(24,727)
(24,727)
Charge for the year
61,336
7,347
68,683
At 31 March 2016
255,000
57,943
312,943
Net book value
At 31 March 2016
595,000
48,241
643,241
At 31 March 2015
781,336
32,200
813,536
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100