Stealth Trading Limited - Period Ending 2015-11-30

Registration number: 7080409

Stealth Trading Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2015
 

Paul Austen Associates Ltd
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 4BA

Stealth Trading Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Stealth Trading Limited
for the Year Ended 30 November 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Stealth Trading Limited for the year ended 30 November 2015 set out on pages 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 Board of Directors of Stealth Trading Limited, as a body, in accordance with the terms of our engagement letterdated 20 August 2014. Our work has been undertaken solely to prepare for your approval the accounts of Stealth Trading Limited and state those matters that we have agreed to state to them, as a body, 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 Stealth Trading Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Stealth Trading Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Stealth Trading Limited. You consider that Stealth Trading 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 accounts of Stealth Trading 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 accounts.

......................................

Paul Austen Associates Ltd
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 4BA

18 August 2016

Page 1

Stealth Trading Limited
(Registration number: 7080409)
Abbreviated Balance Sheet at 30 November 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					225,000			225,000
Current assets
Cash at bank and in hand					50,878			45,600
Creditors: Amounts falling due within one year					(19,925)			(23,302)
Net current assets					30,953			22,298
Total assets less current liabilities					255,953			247,298
Creditors: Amounts falling due after more than one year					(225,000)			(225,000)
Net assets					30,953			22,298
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					30,951			22,296
Shareholders' funds					30,953			22,298

For the year ending 30 November 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 18 August 2016 and signed on its behalf by:

.........................................
Mr David Hughes
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Stealth Trading Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis. The company has net liabilities, however the directors, having made appropriate enquiries, and with the continued support of shareholders believe the company has the ability to meet its liabilities as they fall due. For this reason the accounts have been prepared on a going concern basis.

Depreciation

Depreciation is charged across the expected economic life of the assets less any residual value. The directors consider it appropriate that no depreciation is charged on freehold land and buildings given their historic increases in market value and expected ability of the asset to at least maintain their market value at no less than historic cost.

Asset class	Depreciation method and rate
Freehold land and buildings	no depreciation

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2014		225,000			225,000
At 30 November 2015		225,000			225,000
Depreciation
At 30 November 2015		-			-
Net book value
At 30 November 2015		225,000			225,000
At 30 November 2014		225,000			225,000

Page 3

Stealth Trading Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years not by instalments		225,000			225,000

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 4