SADDLERS_COURT_MFG_LIMITE - Accounts
SADDLERS_COURT_MFG_LIMITE - Accounts
Company Registration No. 05883173 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(2,324,846 )
(1,234,432 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(740,806 )
(569,206 )
Provisions for liabilities
(144,538 )
(138,667 )
Accruals and deferred income
(286,000 )
(200,000 )
Capital and reserves
Called up share capital
5
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
- 2 -
Directors' responsibilities:
-
-
Approved by the Board and authorised for issue on 22 April 2015
Director
Company Registration No. 05883173
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Plant and machinery
Computer equipment
Fixtures, fittings & equipment
Motor vehicles
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.8
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.9
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014
2,134,218
Additions
624,699
Disposals
(25,234)
At 31 December 2014
2,733,683
Depreciation
At 1 January 2014
493,386
On disposals
(9,737)
Charge for the year
245,947
At 31 December 2014
729,596
Net book value
At 31 December 2014
2,004,087
At 31 December 2013
1,640,832
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £514,396 (2013 - £252,565).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £668,850 (2013 - £497,250).
5
Share capital
2014
2013
£
£
Allotted, called up and fully paid
6
Related party relationships and transactions
Other transactions
At the balance sheet date the company owed Mr P Dolman £71,966 (2013 - £71,966).