CENTRAL_SHEETMETAL_&_FABR - Accounts

CENTRAL SHEETMETAL & FABRICATION COMPANY LIMITED - Company Information

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Company Registration No. 02033129 (England and Wales)

CENTRAL SHEETMETAL & FABRICATION COMPANY LIMITED

ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

CENTRAL SHEETMETAL & FABRICATION COMPANY LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

CENTRAL SHEETMETAL & FABRICATION COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

102,920

106,351

Current assets

Stocks

2,000

8,000

Debtors

112,946

89,071

Cash at bank and in hand

34,916

33,998

149,862

131,069

Creditors: amounts falling due within one year

(111,630)

(117,033)

Net current assets

38,232

14,036

Total assets less current liabilities

141,152

120,387

Creditors: amounts falling due after more than one year

(71,024)

(75,060)

Provisions for liabilities

(836)

(1,559)

69,292

43,768

Capital and reserves

Called up share capital

30,000

Profit and loss account

39,292

13,768

Shareholders' funds

69,292

43,768

CENTRAL SHEETMETAL & FABRICATION COMPANY LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2015

- 2 -

For the financial year ended 30 June 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 15 March 2016

Mr R Scaife

Director

Company Registration No. 02033129

CENTRAL SHEETMETAL & FABRICATION COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 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

Turnover

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

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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 Freehold

2% straight line

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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.

1.5

Stock

Stock is valued,on a FIFO basis, at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs.

1.6

Deferred taxation

Deferred taxation is recognised in respect of all timing differences which have originated but not reversed at the balance sheet date. Timing differences are differences between taxable profits and the results as stated in the financial statements which arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised for tax purposes.

A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.

Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding agreement to sell the revalued asset and the resulting gain or loss has been recognised in the financial statements. Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, being charged to tax only if and when the replacement assets are sold.

Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

CENTRAL SHEETMETAL & FABRICATION COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 July 2014

181,720

Additions

201

At 30 June 2015

181,921

Depreciation

At 1 July 2014

75,369

Charge for the year

3,632

At 30 June 2015

79,001

Net book value

At 30 June 2015

102,920

At 30 June 2014

106,351

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £4,197 (2014 - £3,763).

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

46,737

57,273

The aggregate amount of creditors for which security has been given amounted to £71,024 (2014 - £0.00).

Share capital

2015

2014

Allotted, called up and fully paid

30,000 Ordinary shares of £1 each

30,000