Company Registration No. 01905225 (England and Wales)
CENTRAL METALS AND ALLOYS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
CENTRAL METALS AND ALLOYS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
CENTRAL METALS AND ALLOYS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
550,146
69,639
Investments
2
260,000
-
810,146
69,639
Current assets
Stocks
451,011
472,193
Debtors
262,736
722,636
Cash at bank and in hand
850,095
1,304,873
1,563,842
2,499,702
Creditors: amounts falling due within one year
(139,931)
(244,900)
Net current assets
1,423,911
2,254,802
Total assets less current liabilities
2,234,057
2,324,441
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
2,233,057
2,323,441
Shareholders' funds
2,234,057
2,324,441
CENTRAL METALS AND ALLOYS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. 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 of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the 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 accounts, so far as applicable to the company.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board for issue on 25 August 2016
Mr M J Nixon
Mrs P Nixon
Director
Director
Company Registration No. 01905225
CENTRAL METALS AND ALLOYS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 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
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
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:
Fixtures, fittings & equipment
20% on reducing balance
Motor vehicles
25% reducing balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
Deferred taxation
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax at a future date at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assests and liabilities are not discounted.
CENTRAL METALS AND ALLOYS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
1
Accounting policies
(Continued)
- 4 -
1.9
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.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 January 2015
149,330
-
149,330
Additions
498,398
260,000
758,398
Disposals
(4,630)
-
(4,630)
At 31 December 2015
643,098
260,000
903,098
Depreciation
At 1 January 2015
79,691
-
79,691
On disposals
(4,141)
-
(4,141)
Charge for the year
17,402
-
17,402
At 31 December 2015
92,952
-
92,952
Net book value
At 31 December 2015
550,146
260,000
810,146
At 31 December 2014
69,639
-
69,639
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1,000 Ordinary Shares of £1 each
1,000
1,000