Registered Number NI608649
S POLLOCK AND PARTNERS LIMITED
Abbreviated Accounts
30 August 2016
Notes | 2016 | 2015 | |
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Called up share capital not paid |
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Fixed assets | |||
Tangible assets | 2 |
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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 | 3 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
- Plant & machinery - 10% reducing balance
- Motor vehicles - 25% reducing balance
- Fixtures & Fittings - 25% straightline
Other accounting policies
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Operating leases
Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and loss account.
Creditors: amounts falling due within one year
The aggregate amount of creditors due within one year, for which security has been given, amounted to £5,229 (2015: £9,079).
Creditors: amounts falling due after more than one year
The aggregate amount of creditors due after more than one year, for which security has been given, amounted to £11,853 (2015: £14,580).
Director's benefits: advances, credit and guarantees
At the year end one director of the company owed S Pollock and Partners Limited a balance of £Nil (2015: £2,055 owed by two directors).
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Cost | |
At 1 September 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 August 2016 |
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Depreciation | |
At 1 September 2015 |
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Charge for the year |
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On disposals |
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At 30 August 2016 |
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Net book values | |
At 30 August 2016 | 215,881 |
At 31 August 2015 | 237,315 |
2016
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2015
£ |
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Secured Debts |
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