SPILSTED & SONS LIMITED - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06122884 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

SPILSTED & SONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs H Spilsted

S Spilsted

J Spilsted

T Spilsted

SECRETARY:

Mrs H Spilsted

REGISTERED OFFICE:

26 Hanger Cottage

Broadreed Farm

Stansted Park

Rowlands Castle

Hampshire

PO9 6DZ

REGISTERED NUMBER:

06122884 (England and Wales)

ACCOUNTANTS:

James Todd & Co Limited

1 & 2 The Barn

Oldwick

West Stoke Road

Chichester

West Sussex

PO18 9AA

FIXED ASSETS

Tangible assets

2

19,239

22,016

CURRENT ASSETS

Stocks

750

750

Debtors

21,225

16,499

Cash at bank and in hand

293

457

22,268

17,706

CREDITORS

Amounts falling due within one year

67,851

54,105

NET CURRENT LIABILITIES

(45,583

)

(36,399

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(26,344

)

(14,383

)

CREDITORS

Amounts falling due after more than one year

6,682

9,973

NET LIABILITIES

(33,026

)

(24,356

)

CAPITAL AND RESERVES

Called up share capital

3

150

150

Profit and loss account

(33,176

)

(24,506

)

SHAREHOLDERS' FUNDS

(33,026

)

(24,356

)

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

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

The directors acknowledge their 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 Board of Directors on 29 September 2015 and were signed on its behalf by:

S Spilsted - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company relies on the continued support of the directors who are the major creditor. The

financial statements have been prepared on a going concern basis on the understanding that the

directors will not withdraw their loan to the detriment of other creditors.

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 the amounts derived from the provision of goods and services falling within the

company's ordinary activities, after deduction of trade discounts, value added tax and any other

other taxes.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making

due allowance for obsolete and slow-moving items. Cost includes all direct expenditure and a

proportion of fixed and variable overheads where appropriate.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations

in period different from those in which they are included in the company's accounts. Deferred tax is

provided in full on timing differences which result in an obligation to pay more (or less) tax at a

future date, at the average tax rates that are expected to apply when the timing differences reverse,

based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where

there is no commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

34,436

Additions

2,400

At 31 December 2014

36,836

DEPRECIATION

At 1 January 2014

12,420

Charge for year

5,177

At 31 December 2014

17,597

NET BOOK VALUE

At 31 December 2014

19,239

At 31 December 2013

22,016

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

150

Ordinary

£1

150

150

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

H Spilsted has provided a loan to the company of £8,500 (2013:£8,500). Interest was paid to her of

£425 (2013:£425).