E. Conway & Sons (Timber Sales) Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 01077348 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2015

FOR

E. CONWAY & SONS (TIMBER SALES) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G.E. Conway

S.B. Conway

M.A. Conway

SECRETARY:

G.E. Conway

REGISTERED OFFICE:

85/87 High Street West

Glossop

Derbyshire

SK13 8AZ

REGISTERED NUMBER:

01077348 (England and Wales)

ACCOUNTANTS:

Crossfields

Chartered Accountants

85/87 High Street West

Glossop

Derbyshire

SK13 8AZ

FIXED ASSETS

Tangible assets

2

349,118

365,229

CURRENT ASSETS

Stocks

86,959

93,111

Debtors

58,571

49,698

Cash at bank and in hand

68,052

75,913

213,582

218,722

CREDITORS

Amounts falling due within one year

212,700

202,300

NET CURRENT ASSETS

882

16,422

TOTAL ASSETS LESS CURRENT LIABILITIES

350,000

381,651

PROVISIONS FOR LIABILITIES

3,810

4,971

NET ASSETS

346,190

376,680

CAPITAL AND RESERVES

Called up share capital

3

2,775

2,775

Profit and loss account

343,415

373,905

SHAREHOLDERS' FUNDS

346,190

376,680

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 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 17 May 2016 and were signed on its behalf by:

S.B. Conway - 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

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

587,647

DEPRECIATION

At 1 November 2014

222,418

Charge for year

16,111

At 31 October 2015

238,529

NET BOOK VALUE

At 31 October 2015

349,118

At 31 October 2014

365,229

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2,775

Ordinary

£1

2,775

2,775

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year dividends were paid to directors as follows :-

G.E.Conway - £24000

S.B.Conway - £16000