Company Registration No. 06815686 (England and Wales)
CARNABY STEEL SERVICES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
CARNABY STEEL SERVICES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CARNABY STEEL SERVICES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
41,133
54,844
Current assets
Debtors
76,000
81,517
Cash at bank and in hand
1,002,273
492,104
1,078,273
573,621
Creditors: amounts falling due within one year
(161,367)
(32,107)
Net current assets
916,906
541,514
Total assets less current liabilities
958,039
596,358
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
957,939
596,258
Shareholders' funds
958,039
596,358
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 24 February 2015
Mr P Johnson
Director
Company Registration No. 06815686
CARNABY STEEL SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts, along with rents receivable from assets held for use by the company in operating leases. Rents received are accounted for on a straight line basis over the lease term.
1.3
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:
Plant and machinery
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014 & at 31 December 2014
130,000
Depreciation
At 1 January 2014
75,156
Charge for the year
13,711
At 31 December 2014
88,867
Net book value
At 31 December 2014
41,133
At 31 December 2013
54,844
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
4
Related party relationships and transactions
CARNABY STEEL SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
4
Related party relationships and transactions
(Continued)
- 3 -
Carnaby Steel Structures Limited
Carnaby Steel Structures Limited is a company in which R M Phillips, Mrs A Phillips, P Johnson and Mrs A Johnson are directors and shareholders. During the period the company provided structural steel design and management services to Carnaby Steel Structures Limited to the value of £ 510 ,000 (201 3 - £ 128 ,000). Included in other creditors is a balance owing to Carnaby Steel Structures Limited of £945 (201 3 - £945). Included in trade debtors is a balance owing from Carnaby Steel Structures Limited of £ 70,000 (201 3 - £28,000 ).
During the period the company provided structural steel design and management services to Carnaby Steel Structures Limited to the value of £510,000 (2013 - £128,000).
Included in other creditors is a balance owing to Carnaby Steel Structures Limited of £945 (2013 - £945).
Included in trade debtors is a balance owing from Carnaby Steel Structures Limited of £70,000 (2013 - £28,000).
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