Spencer-Carter Limited - Period Ending 2015-03-31

 
 
 
 
 
 
 
  Spencer-Carter Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 March 2015
 
  Company Registration Number: 03433308

Spencer-Carter Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Spencer-Carter Limited
Abbreviated Balance Sheet
31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			49,482			86,294
Current assets
Stocks					126,631			125,651
Debtors					251,725			207,335
Cash at bank and in hand					358,906			348,564
					737,262			681,550
Creditors: Amounts falling due within one year					(139,103)			(180,175)
Net current assets					598,159			501,375
Total assets less current liabilities					647,641			587,669
Provisions for liabilities					(6,518)			(13,141)
Deferred income					(5,604)			(11,209)
Net assets					635,519			563,319
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					635,419			563,219
Shareholders' funds					635,519			563,319

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Spencer-Carter Limited
Abbreviated Balance Sheet
31 March 2015 ......... continued

For the year ending 31 March 2015 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 10 December 2015 and signed on its behalf by:

Mr R M Carter
Company secretary and director

Company Registration Number: 03433308

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

Spencer-Carter Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2015 ......... 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).

Turnover

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

Government grants

Grants receivable from governments or similar bodies are credited to deferred income in the balance sheet in the period in which there is reasonable assurance that the conditions relating to the grant are met. Where they relate to specific assets they are amortised on a straight line basis over the same period as the asset is depreciated.

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
Plant and machinery	20% on reducing balance and 20% on cost
Motor vehicles	25% on cost
Office equipment	25% on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Page 3

Spencer-Carter Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2015 ......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		673,251			673,251
Additions		4,834			4,834
At 31 March 2015		678,085			678,085
Depreciation
At 1 April 2014		586,957			586,957
Charge for the year		41,646			41,646
At 31 March 2015		628,603			628,603
Net book value
At 31 March 2015		49,482			49,482
At 31 March 2014		86,294			86,294

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4