Abbreviated Company Accounts - RIFFA FABRICATIONS LIMITED

RIFFA FABRICATIONS LIMITED - Company Information

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Registered Number 06420860

RIFFA FABRICATIONS LIMITED

Abbreviated Accounts

31 December 2015

RIFFA FABRICATIONS LIMITED Registered Number 06420860

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	24,005	22,028
		24,005	22,028
Current assets
Stocks		2,720	62,660
Debtors		113,072	50,605
Cash at bank and in hand		337,760	153,992
		453,552	267,257
Creditors: amounts falling due within one year		(469,081)	(283,356)
Net current assets (liabilities)		(15,529)	(16,099)
Total assets less current liabilities		8,476	5,929
Provisions for liabilities		(4,553)	(4,103)
Total net assets (liabilities)		3,923	1,826
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		3,921	1,824
Shareholders' funds		3,923	1,826

For the year ending 31 December 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 23 February 2016

And signed on their behalf by:
C Abbott, Director

RIFFA FABRICATIONS LIMITED Registered Number 06420860

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 10% reducing balance basis
Motor vehicles - 25% reducing balance basis

Valuation information and policy
Stock
Stock and work in progress are valued at the lower of cost and net realisable value.

Other accounting policies
Leasing:
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Deferred Tax:
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

2Tangible fixed assets

	£
Cost
At 1 January 2015	56,771
Additions	7,600
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	64,371
Depreciation
At 1 January 2015	34,743
Charge for the year	5,623
On disposals	-
At 31 December 2015	40,366
Net book values
At 31 December 2015	24,005
At 31 December 2014	22,028

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2

4Transactions with directors

Name of director receiving advance or credit:	D Seddon
Description of the transaction:	Advances to directors
Balance at 1 January 2015:	£ 7,248
Advances or credits made:	£ 5,500
Advances or credits repaid:	£ 12,748
Balance at 31 December 2015:	£ 0

The following directors received loans during the year: A commercial rate of interest was charged and the loans were repaid on the 30th September 2015.