NATURAL_CUT_STONE_LIMITED - Accounts

NATURAL CUT STONE LIMITED - Company Information

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Company Registration No. 06986224 (England and Wales)

NATURAL CUT STONE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2015

NATURAL CUT STONE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

NATURAL CUT STONE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

53,885

50,203

Current assets

Stocks

43,678

41,271

Debtors

19,575

17,501

Cash at bank and in hand

47,473

16,704

110,726

75,476

Creditors: amounts falling due within one year

(70,374)

(70,062)

Net current assets

40,352

5,414

Total assets less current liabilities

94,237

55,617

Creditors: amounts falling due after more than one year

(720)

(878)

Provisions for liabilities

(10,679)

82,838

54,739

Capital and reserves

Called up share capital

100

Profit and loss account

82,738

54,639

Shareholders' funds

82,838

54,739

NATURAL CUT STONE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 AUGUST 2015

- 2 -

For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 December 2015

Mr J R Barrett

Director

Company Registration No. 06986224

NATURAL CUT STONE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Straight line over the life of the lease

Plant and machinery

20% reducing balance

Fixtures, fittings & equipment

20% straight line

Motor vehicles

25% reducing balance

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.

1.6

Stock and work in progress

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.

NATURAL CUT STONE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 September 2014

100,426

Additions

17,013

At 31 August 2015

117,439

Depreciation

At 1 September 2014

50,223

Charge for the year

13,331

At 31 August 2015

63,554

Net book value

At 31 August 2015

53,885

At 31 August 2014

50,203

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100