HADLEIGH_GLASS_LIMITED - Accounts

HADLEIGH GLASS LIMITED - Company Information

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Company Registration No. 03945118 (England and Wales)

HADLEIGH GLASS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2015

HADLEIGH GLASS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

HADLEIGH GLASS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

224,719

152,526

Current assets

Stocks

154,957

52,703

Debtors

285,083

151,304

Cash at bank and in hand

188,357

134,351

628,397

338,358

Creditors: amounts falling due within one year

(567,834)

(298,847)

Net current assets

60,563

39,511

Total assets less current liabilities

285,282

192,037

Creditors: amounts falling due after more than one year

(85,077)

(32,924)

Provisions for liabilities

(21,652)

178,553

159,113

Capital and reserves

Called up share capital

Share premium account

49,993

Profit and loss account

128,550

109,110

Shareholders' funds

178,553

159,113

HADLEIGH GLASS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JULY 2015

- 2 -

For the financial year ended 31 July 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 28 April 2016

Mr G K Emmerson

Mr T J Hewitt

Director

Company Registration No. 03945118

HADLEIGH GLASS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 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

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

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

1.4

Tangible fixed assets and depreciation

Tangible fixed assets 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 Leasehold

20% reducing balance

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

20% reducing balance

1.5

Leasing and hire purchase commitments

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.

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

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

HADLEIGH GLASS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 August 2014

214,252

Additions

131,922

At 31 July 2015

346,174

Depreciation

At 1 August 2014

61,726

Charge for the year

59,729

At 31 July 2015

121,455

Net book value

At 31 July 2015

224,719

At 31 July 2014

152,526

Share capital

2015

2014

Allotted, called up and fully paid

10 Ordinary shares of £1 each