THORNELL_(VENEERS)_LIMITE - Accounts

THORNELL (VENEERS) LIMITED - Company Information

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Company Registration No. 01281015 (England and Wales)

THORNELL (VENEERS) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

THORNELL (VENEERS) LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

THORNELL (VENEERS) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

192,087

213,613

Current assets

Stocks

19,834

19,344

Debtors

69,634

99,442

Cash at bank and in hand

278,763

127,059

368,231

245,845

Creditors: amounts falling due within one year

(167,070)

(96,531)

Net current assets

201,161

149,314

Total assets less current liabilities

393,248

362,927

Creditors: amounts falling due after more than one year

(1,163)

Provisions for liabilities

(5,010)

(7,748)

388,238

354,016

Capital and reserves

Called up share capital

275

Revaluation reserve

108,431

Other reserves

725

Profit and loss account

278,807

244,585

Shareholders' funds

388,238

354,016

THORNELL (VENEERS) LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2015

- 2 -

For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 11 April 2016

Mr C Thornell

Director

Company Registration No. 01281015

THORNELL (VENEERS) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 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 other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

2% Straight Line

Plant and machinery

10% Straight Line

Fixtures, fittings & equipment

25% Straight Line

Motor vehicles

25% Reducing Balance

1.5

Stock

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

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

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.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

THORNELL (VENEERS) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 4 -

Fixed assets

Tangible assets

Cost or valuation

At 1 October 2014

465,131

Additions

13,345

Disposals

(4,150)

At 30 September 2015

474,326

Depreciation

At 1 October 2014

251,515

On disposals

(4,150)

Charge for the year

34,874

At 30 September 2015

282,239

Net book value

At 30 September 2015

192,087

At 30 September 2014

213,613

Share capital

2015

2014

Allotted, called up and fully paid

275 Ordinary Shares of £1 each

275