S_KORONKA_(MANUFACTURING) - Accounts

S. KORONKA (MANUFACTURING) LIMITED - Company Information

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Company Registration No. SC056866 (Scotland)

S KORONKA (MANUFACTURING) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

S KORONKA (MANUFACTURING) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

S KORONKA (MANUFACTURING) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

166,869

172,347

Current assets

Stocks

25,240

27,702

Debtors

1,047,281

965,470

Cash at bank and in hand

2,095,787

2,064,574

3,168,308

3,057,746

Creditors: amounts falling due within one year

(1,061,075)

(674,373)

Net current assets

2,107,233

2,383,373

Total assets less current liabilities

2,274,102

2,555,720

Provisions for liabilities

(22,452)

(22,563)

2,251,650

2,533,157

Capital and reserves

Called up share capital

213,500

Other reserves

221,500

Profit and loss account

1,816,650

2,098,157

Shareholders' funds

2,251,650

2,533,157

For the financial year ended 31 December 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 21 July 2016

Trevor Koronka

Director

Company Registration No. SC056866

S KORONKA (MANUFACTURING) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

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 January 2015).

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 are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% reducing balance

Fixtures, fittings & equipment

10% straight line

Motor vehicles

10% straight line

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.

S KORONKA (MANUFACTURING) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2015

326,346

Additions

43,061

Disposals

(108,955)

At 31 December 2015

260,452

Depreciation

At 1 January 2015

154,160

On disposals

(80,451)

Charge for the year

19,874

At 31 December 2015

93,583

Net book value

At 31 December 2015

166,869

At 31 December 2014

172,347

Debtors

Debtors include an amount of £438,683 (2014 - £430,849) which is due after more than one year.

Share capital

2015

2014

Allotted, called up and fully paid

213,500 Ordinary £1 of £1 each

213,500