Goldring Industries Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03588593 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

FOR

GOLDRING INDUSTRIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I Dring

Mrs M Dring

SECRETARY:

Mrs M Dring

REGISTERED OFFICE:

Trafalgar Works

Cable Street

Wolverhampton

WV2 2HX

REGISTERED NUMBER:

03588593 (England and Wales)

ACCOUNTANTS:

Wynniatt-Husey Ltd

Chartered Accountants

The Old Coach House

Horsefair

Rugeley

Staffordshire

WS15 2EL

FIXED ASSETS

285,127

Tangible assets

2

399,467

CURRENT ASSETS

19,876

Stocks

20,671

644,168

Debtors

653,274

46,457

Cash at bank

309,718

710,501

983,663

CREDITORS

551,092

Amounts falling due within one year

772,298

159,409

NET CURRENT ASSETS

211,365

444,536

TOTAL ASSETS LESS CURRENT
LIABILITIES

610,832

CREDITORS

(6,760

)

Amounts falling due after more than one
year

(65,869

)

(27,275

)

PROVISIONS FOR LIABILITIES

(52,799

)

410,501

NET ASSETS

492,164

CAPITAL AND RESERVES

100

Called up share capital

3

100

410,401

Profit and loss account

492,064

410,501

SHAREHOLDERS' FUNDS

492,164

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 26 May 2016 and were signed on its behalf by:

I Dring - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

516,773

Additions

222,495

At 31 August 2015

739,268

DEPRECIATION

At 1 September 2014

231,646

Charge for year

108,155

At 31 August 2015

339,801

NET BOOK VALUE

At 31 August 2015

399,467

At 31 August 2014

285,127

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

100

Ordinary

£1

100

4.	CONTROLLING PARTY

The company is controlled by I Dring and Mrs M Dring by virtue of their shareholdings as described in the

directors report.