Robinson Wire Cloth Limited - Period Ending 2015-10-31

Registration number: 01436881

Robinson Wire Cloth Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

Robinson Wire Cloth Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Robinson Wire Cloth Limited
(Registration number: 01436881)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					87,821			96,155
Current assets
Stocks					144,805			165,249
Debtors					102,142			94,934
Cash at bank and in hand					259,486			192,927
					506,433			453,110
Creditors: Amounts falling due within one year					(49,151)			(44,796)
Net current assets					457,282			408,314
Net assets					545,103			504,469
Capital and reserves
Called up share capital		3			90,860			90,860
Other reserves					7,947			7,947
Profit and loss account					446,296			405,662
Shareholders' funds					545,103			504,469

For the year ending 31 October 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 17 March 2016 and signed on its behalf by:

.........................................
Mr CB Ellis
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Robinson Wire Cloth Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	2% straight line basis
Plant and machinery	15% straight line basis
Fixtures and fittings	15% straight line basis
Motor vehicles	25% straight line basis
Office equipment	15% straight line basis

Stock

Stock is 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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Robinson Wire Cloth Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2014		269,431			269,431
At 31 October 2015		269,431			269,431
Depreciation
At 1 November 2014		173,276			173,276
Charge for the year		8,334			8,334
At 31 October 2015		181,610			181,610
Net book value
At 31 October 2015		87,821			87,821
At 31 October 2014		96,155			96,155

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary A of £1 each		90,859			90,859			90,859			90,859
Ordinary B of £1 each		1			1			1			1
		90,860			90,860			90,860			90,860

Page 3