Abbreviated Company Accounts - G.L.BALL COMPONENTS LIMITED

Abbreviated Company Accounts - G.L.BALL COMPONENTS LIMITED


Registered Number 01061319

G.L.BALL COMPONENTS LIMITED

Abbreviated Accounts

31 December 2014

G.L.BALL COMPONENTS LIMITED Registered Number 01061319

Abbreviated Balance Sheet as at 31 December 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 273,185 230,188
273,185 230,188
Current assets
Stocks 35,830 34,556
Debtors 77,579 86,054
Cash at bank and in hand 68,227 144,001
181,636 264,611
Creditors: amounts falling due within one year (20,336) (103,280)
Net current assets (liabilities) 161,300 161,331
Total assets less current liabilities 434,485 391,519
Provisions for liabilities (35,216) (26,601)
Total net assets (liabilities) 399,269 364,918
Capital and reserves
Called up share capital 3 5,000 5,000
Share premium account 168 168
Profit and loss account 394,101 359,750
Shareholders' funds 399,269 364,918
  • For the year ending 31 December 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 directors acknowledge their 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 Board on 17 September 2015

And signed on their behalf by:
J A Francis, Director

G.L.BALL COMPONENTS LIMITED Registered Number 01061319

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

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

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Valuation information and policy
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Other accounting policies
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.
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.

2Tangible fixed assets
£
Cost
At 1 January 2014 796,771
Additions 90,085
Disposals (1,603)
Revaluations -
Transfers -
At 31 December 2014 885,253
Depreciation
At 1 January 2014 566,583
Charge for the year 46,975
On disposals (1,490)
At 31 December 2014 612,068
Net book values
At 31 December 2014 273,185
At 31 December 2013 230,188
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
5,000 Ordinary shares of £1 each 5,000 5,000

4Transactions with directors

Name of director receiving advance or credit: J A Francis
Description of the transaction: The following advances and credits to a director subsisted during the year
Balance at 1 January 2014: £ 1,028
Advances or credits made: £ 1,061
Advances or credits repaid: £ 1,028
Balance at 31 December 2014: £ 1,061