GB Welding Services (Rutland) Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02657647

Abbreviated Unaudited Accounts for the Year Ended 31 October 2015

for

GB Welding Services (Rutland) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTORS:

G D Burton

R J Tooke

SECRETARY:

G D Burton

REGISTERED OFFICE:

Unit 4 & 6

Pillings Rd Industrial Est.

Oakham

Rutland

LE15 6QF

REGISTERED NUMBER:

02657647

ACCOUNTANTS:

Charlton Accountants Limited

71 Load St

Bewdley

Worcestershire

DY12 2AW

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

47,904

44,580

47,904

44,580

CURRENT ASSETS

Stocks

9,260

11,605

Debtors

153,375

148,892

Cash at bank and in hand

9,421

21,235

172,056

181,732

CREDITORS

Amounts falling due within one year

4

225,260

212,589

NET CURRENT LIABILITIES

(53,204

)

(30,857

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,300

)

13,723

PROVISIONS FOR LIABILITIES

9,288

8,559

NET (LIABILITIES)/ASSETS

(14,588

)

5,164

CAPITAL AND RESERVES

Called up share capital

5

1,000

1,000

Profit and loss account

(15,588

)

4,164

SHAREHOLDERS' FUNDS

(14,588

)

5,164

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 12 February 2016 and were signed on its behalf by:

G D Burton - 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

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 etc

-

20% on reducing balance and 15% 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 an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

5,000

AMORTISATION

At 1 November 2014

and 31 October 2015

5,000

NET BOOK VALUE

At 31 October 2015

-

At 31 October 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

189,794

Additions

14,068

At 31 October 2015

203,862

DEPRECIATION

At 1 November 2014

145,214

Charge for year

10,744

At 31 October 2015

155,958

NET BOOK VALUE

At 31 October 2015

47,904

At 31 October 2014

44,580

4.

CREDITORS

Creditors include an amount of £ 84,709 (31.10.14 - £ 80,680 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

£

1,000

Ordinary

£1

1,000

1,000

6.	RELATED PARTY DISCLOSURES

The director's loan account for Mr G Burton was overdrawn by £4192 at 31st October 2015, but will be repaid

by the voting of a dividend.

The bank borrowings are secured by directors' personal guarantees.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of GB Welding Services (Rutland) Limited for the year ended 31 October 2015 which comprise the

Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of GB Welding Services (Rutland) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GB Welding Services (Rutland) Limited and state those matters that we have agreed to state to the Board of Directors of GB Welding Services (Rutland) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that GB Welding Services (Rutland) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GB Welding Services (Rutland) Limited. You consider that GB Welding Services (Rutland) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of GB Welding Services

(Rutland) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or

information and explanations you have given to us and we do not, therefore, express any opinion on the statutory

financial statements.

Charlton Accountants Limited

71 Load St

Bewdley

Worcestershire

DY12 2AW

12 February 2016