Electro Galvanising Limited - Period Ending 2014-03-31

Registration number: 00549138

Electro Galvanising Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Electro Galvanising Limited
Contents

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

Electro Galvanising Limited
Company Information

Director

Mr R C Street

Registered office

3 Heol Gylfinir Barry Vale of Glamorgan CF62 5AJ

Accountants

PJE Chartered Accountants 23, College Street Lampeter Ceredigion SA48 7DY

Page 1

Electro Galvanising Limited
(Registration number: 00549138)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			86,371			86,420
Current assets
Debtors					914			665
Cash at bank and in hand					16,636			18,514
					17,550			19,179
Creditors: Amounts falling due within one year					(407)			(1,158)
Net current assets					17,143			18,021
Net assets					103,514			104,441
Capital and reserves
Called up share capital		3			2,000			2,000
Profit and loss account					101,514			102,441
Shareholders' funds					103,514			104,441

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 28 July 2014

.........................................
Mr R C Street
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Electro Galvanising Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Equipment	25% reducing balance

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Electro Galvanising Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2013		86,651			86,651
At 31 March 2014		86,651			86,651
Depreciation
At 1 April 2013		231			231
Charge for the year		49			49
At 31 March 2014		280			280
Net book value
At 31 March 2014		86,371			86,371
At 31 March 2013		86,420			86,420

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Share of £1 each		2,000			2,000			2,000			2,000

4	Related party transactions

At 31 March 2014 no amount was owed to or by the director. The property purchased by the company is being let to Mr R C Street's son at a commercial rent.

5

Control

The ultimate controlling party of Electro Galvanising Limited is Mr R C Street, the director of the company.

Page 4