Abbreviated Company Accounts - G.L.BALL COMPONENTS LIMITED

G.L.BALL COMPONENTS LIMITED - Company Information

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Registered Number 01061319

G.L.BALL COMPONENTS LIMITED

Abbreviated Accounts

31 December 2015

G.L.BALL COMPONENTS LIMITED Registered Number 01061319

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	264,946	273,185
		264,946	273,185
Current assets
Stocks		34,520	35,830
Debtors		46,068	77,579
Cash at bank and in hand		128,558	68,227
		209,146	181,636
Creditors: amounts falling due within one year		(19,427)	(20,336)
Net current assets (liabilities)		189,719	161,300
Total assets less current liabilities		454,665	434,485
Provisions for liabilities		(39,252)	(35,216)
Total net assets (liabilities)		415,413	399,269
Capital and reserves
Called up share capital	3	5,000	5,000
Share premium account		168	168
Profit and loss account		410,245	394,101
Shareholders' funds		415,413	399,269

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 4 April 2016

And signed on their behalf by:
J A Francis, Director

G.L.BALL COMPONENTS LIMITED Registered Number 01061319

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 net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Valuation information and policy
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
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.

2Tangible fixed assets

	£
Cost
At 1 January 2015	885,253
Additions	37,500
Disposals	(622)
Revaluations	-
Transfers	-
At 31 December 2015	922,131
Depreciation
At 1 January 2015	612,068
Charge for the year	45,503
On disposals	(386)
At 31 December 2015	657,185
Net book values
At 31 December 2015	264,946
At 31 December 2014	273,185

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

	2015 £	2014 £
5,000 Ordinary shares of £1 each	5,000	5,000

4Transactions with directors

Name of director receiving advance or credit:	J Francis
Description of the transaction:	Advances and credits
Balance at 1 January 2015:	£ 1,061
Advances or credits made:	£ 1,313
Advances or credits repaid:	£ 1,061
Balance at 31 December 2015:	£ 1,313