Steam Boilers (Leicester) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01995397 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2014

FOR

STEAM BOILERS (LEICESTER) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J R Atkins

SECRETARY:

J Atkins

REGISTERED OFFICE:

68 Amy Street

Leicester

Leicestershire

LE3 2FB

REGISTERED NUMBER:

01995397 (England and Wales)

ACCOUNTANTS:

MGC Hayles Limited

Chartered Accountants

39 Castle Street

Leicester

LE1 5WN

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

36,863

9,660

36,863

9,660

CURRENT ASSETS

Stocks

30,300

36,660

Debtors

43,608

30,815

Cash at bank and in hand

3,559

25,645

77,467

93,120

CREDITORS

Amounts falling due within one year

81,661

49,009

NET CURRENT (LIABILITIES)/ASSETS

(4,194

)

44,111

TOTAL ASSETS LESS CURRENT LIABILITIES

32,669

53,771

PROVISIONS FOR LIABILITIES

-

1,932

NET ASSETS

32,669

51,839

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

32,569

51,739

SHAREHOLDERS' FUNDS

32,669

51,839

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 6 February 2015 and were signed by:

J R Atkins - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date where transactions or events have occurred at that date that will result in

an obligation to pay more tax, or a right to pay less tax, or a right to receive repayments of tax.

Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to

apply in the periods in which timing differences reverse, based on tax rates and laws enacted or

substantively enacted at the balance sheet date.

Work in progress

Work in progress is valued on the basis of direct material and labour costs plus attributable

overheads based on a normal level of activity.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

Financial instruments

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

and 31 May 2014

45,000

AMORTISATION

At 1 June 2013

and 31 May 2014

45,000

NET BOOK VALUE

At 31 May 2014

-

At 31 May 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

49,218

Additions

29,618

At 31 May 2014

78,836

DEPRECIATION

At 1 June 2013

39,558

Charge for year

2,415

At 31 May 2014

41,973

NET BOOK VALUE

At 31 May 2014

36,863

At 31 May 2013

9,660

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary shares

1

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2014 and

31 May 2013:

2014

2013

£

£

J R Atkins

Balance outstanding at start of year

10,246

(1,886

)

Amounts advanced

3,700

36,727

Amounts repaid

(6,000

)

(24,595

)

Balance outstanding at end of year

7,946

10,246