Geo.A.Scanlan & Son Limited - Abbreviated accounts 16.1

Geo.A.Scanlan & Son Limited

Abbreviated Unaudited Accounts for the Year Ended 31 July 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

B Scanlan

K Scanlan

C F Reddock

D Wilshaw

SECRETARY:

K Scanlan

REGISTERED OFFICE:

The Old Mill

Tricketts Lane

Willaston

Nantwich

Cheshire

CW5 6PZ

REGISTERED NUMBER:

00690994 (England and Wales)

ACCOUNTANTS:

Alextra Group Limited

12/14 Macon Court

Crewe

Cheshire

CW1 6EA

FIXED ASSETS

Tangible assets

2

64,779

65,139

CURRENT ASSETS

Stocks

86,476

86,476

Debtors

162,754

254,183

Cash at bank and in hand

217,176

95

466,406

340,754

CREDITORS

Amounts falling due within one year

3

(172,701

)

(147,510

)

NET CURRENT ASSETS

293,705

193,244

TOTAL ASSETS LESS CURRENT LIABILITIES

358,484

258,383

CAPITAL AND RESERVES

Called up share capital

4

17,555

17,555

Profit and loss account

340,929

240,828

SHAREHOLDERS' FUNDS

358,484

258,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 4 April 2016 and were signed on its behalf by:

K Scanlan - Director

C F Reddock - 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 January 2015).

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

-

25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost and 25% on reducing balance

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.

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

89,685

DEPRECIATION

At 1 August 2014

24,546

Charge for year

360

At 31 July 2015

24,906

NET BOOK VALUE

At 31 July 2015

64,779

At 31 July 2014

65,139

3.

CREDITORS

Creditors include an amount of £ 0 (31.7.14 - £ 1,664 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.15

31.7.14

value:

£

£

17,555

Ordinary

£1

17,555

17,555

5.	ULTIMATE PARENT COMPANY

Scanlans Holdings Ltd is regarded by the directors as being the company's ultimate parent company.

6.	RELATED PARTY DISCLOSURES