Synpac Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 01795597

Synpac Limited

Abbreviated Unaudited Accounts for the Year Ended 31st May 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G Webb

S Webb

SECRETARY:

G Webb

REGISTERED OFFICE:

Saxon Way

Priory Park West

Hessle

East Yorkshire

HU13 9PB

REGISTERED NUMBER:

01795597

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

FIXED ASSETS

Tangible assets

2

721,785

816,967

CURRENT ASSETS

Stocks

344,665

413,838

Debtors

724,443

717,640

Cash at bank

1,837,610

1,178,380

2,906,718

2,309,858

CREDITORS

Amounts falling due within one year

510,379

488,927

NET CURRENT ASSETS

2,396,339

1,820,931

TOTAL ASSETS LESS CURRENT LIABILITIES

3,118,124

2,637,898

PROVISIONS FOR LIABILITIES

(58,040

)

(65,936

)

ACCRUALS AND DEFERRED INCOME

(28,745

)

(35,918

)

NET ASSETS

3,031,339

2,536,044

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Profit and loss account

3,030,339

2,535,044

SHAREHOLDERS' FUNDS

3,031,339

2,536,044

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2015 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 7th September 2015 and were signed on its behalf by:

S Webb - Director

1.	ACCOUNTING POLICIES

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 invoiced sales of goods, excluding value added tax.

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

-

20% on reducing balance and 10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stock and work in progress are stated at the lower of cost and net realisable value. Cost represents that

expenditure which has been incurred in the normal course of business in bringing the product or service to its

present location and condition.

In the case of raw materials, cost means purchase price including transport and handling costs, less trade

discounts, calculated on a first in first out basis. In the case of work in progress and finished goods, cost

consists of direct materials, direct labour and attributable production and other overheads based on normal

levels of activity.

Net realisable value means estimated selling price less all further costs to completion and all costs to be

incurred in marketing, selling and distribution.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

Contributions to provide pensions and related benefits are charged to the profit and loss account as they

become payable under the defined contribution scheme.

Operating lease rentals

Rentals payable under operating lease rentals are charged to the profit and loss account over the period of the

lease on a straight line basis.

Government grants

Government grants in respect of capital expenditure are credited to profit and loss account over the estimated

useful lives of the relevant fixed assets. The amount shown in the balance sheet as deferred government grants

represents the total grants receivable to date less the amounts so far released to profit and loss account.

Grants of a revenue nature which are made to give immediate financial support or to reimburse costs previously

incurred are credited to profit and loss account in the period in which they become receivable.

Grants of a revenue nature which are made to finance general activities over a specified period or to

compensate for a loss of current or future income are credited to profit and loss account in the period in which

they are paid.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st June 2014

2,245,560

Additions

8,589

Disposals

(3,600

)

At 31st May 2015

2,250,549

DEPRECIATION

At 1st June 2014

1,428,593

Charge for year

103,730

Eliminated on disposal

(3,559

)

At 31st May 2015

1,528,764

NET BOOK VALUE

At 31st May 2015

721,785

At 31st May 2014

816,967

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1,000

Ordinary

£1

1,000

1,000

4.	RELATED PARTY DISCLOSURES

During the year, total dividends of £66,000 were paid to the directors .