Sweetnam & Bradley Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06519223 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2015

for

Sweetnam & Bradley Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N F Johnson

C G H Olejnik

R T Wiltshire

REGISTERED OFFICE:

Industrial Estate

Gloucester Road

Malmesbury

Wiltshire

SN16 0DY

REGISTERED NUMBER:

06519223 (England and Wales)

ACCOUNTANTS:

Corrigan Associates Bristol LLP

The Tramshed

25 Lower Park Row

Bristol

BS1 5BN

FIXED ASSETS

Intangible assets

2

92,480

99,710

Tangible assets

3

496,584

399,920

589,064

499,630

CURRENT ASSETS

Stocks

185,614

198,747

Debtors

402,892

316,505

Cash at bank and in hand

567,615

561,786

1,156,121

1,077,038

CREDITORS

Amounts falling due within one year

332,009

302,032

NET CURRENT ASSETS

824,112

775,006

TOTAL ASSETS LESS CURRENT LIABILITIES

1,413,176

1,274,636

CREDITORS

Amounts falling due after more than one year

(148,231

)

(170,833

)

PROVISIONS FOR LIABILITIES

(87,715

)

(64,430

)

NET ASSETS

1,177,230

1,039,373

CAPITAL AND RESERVES

Called up share capital

4

70,000

70,000

Profit and loss account

1,107,230

969,373

SHAREHOLDERS' FUNDS

1,177,230

1,039,373

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 10 March 2016 and were signed on its behalf by:

C G H Olejnik - Director

N F Johnson - 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 amounts chargeable, net of value added tax, in respect of the sale of goods and

services to customers.

Goodwill

Positive goodwill arising on acquisitions is capitalised and amortised over its useful life of 20 years.

The directors consider this to be the period over which benefits will be derived from the goodwill.

There is no residual value.

The estimated useful life is re-assessed annually. Additionally, goodwill is reviewed for impairment at

the end of the first full financial year following each acquisition and subsequently if events or

changes in circumstances indicate that the carrying value may not be recoverable.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stock and work in progress are 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. Cost includes all direct costs 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 payable under operating leases are charged in the profit and loss account on a straight line

basis over the lease term.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are

depreciated over their useful lives. The capital element of future finance payments is included within

creditors. Finance charges are allocated to accounting periods over the length of the contract and

represent a constant proportion of the balance of capital repayments outstanding.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

144,595

AMORTISATION

At 1 July 2014

44,885

Amortisation for year

7,230

At 30 June 2015

52,115

NET BOOK VALUE

At 30 June 2015

92,480

At 30 June 2014

99,710

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

599,371

Additions

180,453

Disposals

(15,702

)

At 30 June 2015

764,122

DEPRECIATION

At 1 July 2014

199,451

Charge for year

76,505

Eliminated on disposal

(8,418

)

At 30 June 2015

267,538

NET BOOK VALUE

At 30 June 2015

496,584

At 30 June 2014

399,920

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

70,000

Ordinary

£1

70,000

70,000

5.	PENSION SCHEMES

Defined contribution pension scheme

The company operates a defined contribution pension scheme for the benefit of its employees. The

pension cost charge for the year represents contributions payable by the company to the scheme

and amounted to £218,973 (£132,676).

Contributions totalling Nil (2014: £Nil) were payable to the scheme at the end of the year.