Swan Print Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02686015 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 October 2015

for

Swan Print Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

D K Lawrence

SECRETARY:

Mrs E S Lawrence

REGISTERED OFFICE:

Shuttleworth Road

Elm Farm Industrial Estate

Bedford

Bedfordshire

MK41 0EP

REGISTERED NUMBER:

02686015 (England and Wales)

ACCOUNTANTS:

Godfrey Laws & Co Limited

1 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

MK45 2NW

FIXED ASSETS

Tangible assets

2

426,722

462,931

CURRENT ASSETS

Stocks

97,541

148,589

Debtors

242,635

296,764

Cash at bank

939,004

920,384

1,279,180

1,365,737

CREDITORS

Amounts falling due within one year

146,864

176,016

NET CURRENT ASSETS

1,132,316

1,189,721

TOTAL ASSETS LESS CURRENT LIABILITIES

1,559,038

1,652,652

PROVISIONS FOR LIABILITIES

67,526

70,857

NET ASSETS

1,491,512

1,581,795

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

1,491,510

1,581,793

SHAREHOLDERS' FUNDS

1,491,512

1,581,795

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 director acknowledges his 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 director on 5 April 2016 and were signed by:

D K Lawrence - 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.

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

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Work in progress

The company has applied UITF Abstract 40:

Revenue is recognised over time as activities progress to reflect the company's performance of its contractual

obligations. The amount of revenue reflects the accrual - and is recognised as accrued income - of the right to

consideration as contract activity progresses by reference to the value of the work performed.

Accrued income is calculated by reference to individual jobs, and for each job represents all direct costs, an

appropriate proportion of fixed and variable overheads and estimated gross profit.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

1,830,709

Additions

4,667

At 31 October 2015

1,835,376

DEPRECIATION

At 1 November 2014

1,367,778

Charge for year

40,876

At 31 October 2015

1,408,654

NET BOOK VALUE

At 31 October 2015

426,722

At 31 October 2014

462,931

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

£

2

Ordinary

1

2

2

4.	RELATED PARTY DISCLOSURES

D K Lawrence

A director of the company.

During the year Mr D K Lawrence was paid a dividend of £200,000 (2014: £27,000).

5.	ULTIMATE CONTROLLING PARTY

The controlling party is D K Lawrence.