S.C.I. Products Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04100926 (England and Wales)

S.C.I. PRODUCTS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH NOVEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

C N H Hovey

SECRETARY:

C N H Hovey

REGISTERED OFFICE:

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

REGISTERED NUMBER:

04100926 (England and Wales)

ACCOUNTANTS:

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

9,485

5,135

9,485

5,135

CURRENT ASSETS

Stocks

84,392

73,836

Debtors

157,484

97,475

Cash at bank and in hand

71,887

64,751

313,763

236,062

CREDITORS

Amounts falling due within one year

293,648

270,528

NET CURRENT ASSETS/(LIABILITIES)

20,115

(34,466

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

29,600

(29,331

)

CREDITORS

Amounts falling due after more than one
year

10,000

NET ASSETS/(LIABILITIES)

19,600

(39,331

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

19,500

(39,431

)

SHAREHOLDERS' FUNDS

19,600

(39,331

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28th May 2016 and were signed by:

C N H Hovey - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of five years.

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 etc

-

50% on reducing balance and 25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st December 2014

and 30th November 2015

850

AMORTISATION

At 1st December 2014

and 30th November 2015

850

NET BOOK VALUE

At 30th November 2015

-

At 30th November 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st December 2014

46,161

Additions

8,137

At 30th November 2015

54,298

DEPRECIATION

At 1st December 2014

41,026

Charge for year

3,787

At 30th November 2015

44,813

NET BOOK VALUE

At 30th November 2015

9,485

At 30th November 2014

5,135

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of S.C.I. Products Limited for the year ended 30th November 2015 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of S.C.I. Products Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S.C.I. Products Limited and state those matters that we have agreed to state to the director of S.C.I. Products Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that S.C.I. Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of S.C.I. Products Limited. You consider that S.C.I. Products Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of S.C.I. Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

31st May 2016