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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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SILVERBIRCH CONTRACTS LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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SILVERBIRCH CONTRACTS LIMITED |
SILVERBIRCH CONTRACTS LIMITED (REGISTERED NUMBER: SC413446) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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SILVERBIRCH CONTRACTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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AFM House |
6 Crofthead Road |
Prestwick |
Ayrshire |
KA9 1HW |
SILVERBIRCH CONTRACTS LIMITED (REGISTERED NUMBER: SC413446) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings | 12 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year
and of its profit or loss for each 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 financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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SILVERBIRCH CONTRACTS LIMITED (REGISTERED NUMBER: SC413446) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Silverbirch Contracts Limited is a
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registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sale of goods and services, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it |
relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by |
the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they |
are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively |
enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered |
against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase |
contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful |
lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future |
payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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SILVERBIRCH CONTRACTS LIMITED (REGISTERED NUMBER: SC413446) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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Disposals | ( |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | STOCKS |
2016 | 2015 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' loan accounts |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans and overdrafts (see note 8) |
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Hire purchase contracts |
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Trade creditors |
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Tax |
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VAT |
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Other creditors |
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Directors' loan accounts | - | 18,739 |
Accrued expenses |
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8. | LOANS |
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An analysis of the maturity of loans is given below: |
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2016 | 2015 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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SILVERBIRCH CONTRACTS LIMITED (REGISTERED NUMBER: SC413446) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Hire purchase contracts | - | 349 |
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10. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax |
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Deferred |
tax |
£ |
Balance at 1 January 2016 |
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Provided during year | ( |
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Balance at 31 December 2016 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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12. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2016 | ( |
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Profit for the year |
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At 31 December 2016 | ( |
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13. | RELATED PARTY DISCLOSURES |
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At 31st December 2016, Mr J Gibson, Director, owed the company £13,663 (2015:(£18,739)) . The loan is interest free and has no |
fixed date for repayment. |
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14. | ULTIMATE CONTROLLING PARTY |
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Silverbirch Contracts Limited was under the ultimate control of Miss M E Stakim for the whole of the year to 31st December 2016. |