Company Registration No. 04562852 (England and Wales)
SAM PLANT MACHINERY LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2014
SAM PLANT MACHINERY LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SAM PLANT MACHINERY LTD
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2014
31 October 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,489
639
Current assets
Stocks
168,000
188,262
Debtors
242,977
218
Cash at bank and in hand
57,406
50,982
468,383
239,462
Creditors: amounts falling due within one year
(361,902)
(188,918)
Net current assets
106,481
50,544
Total assets less current liabilities
107,970
51,183
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
107,968
51,181
Shareholders' funds
107,970
51,183
For the financial year ended 31 October 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 27 May 2015
Mr H Alhawamdeh
Director
Company Registration No. 04562852
SAM PLANT MACHINERY LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2014
- 2 -
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 April 2008).
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
15% reducing balance
1.5
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.
1.6
Restatement of comparatives
There has been a restatement of the comparative figures so as to disclose turnover and cost of sales separately in the Profit and Loss Account.
1.7
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
SAM PLANT MACHINERY LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2014
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2013
1,751
Additions
1,008
At 31 October 2014
2,759
Depreciation
At 1 November 2013
1,112
Charge for the year
158
At 31 October 2014
1,270
Net book value
At 31 October 2014
1,489
At 31 October 2013
639
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
2 ordinary shares of £1 each
2
2