Selvic Shipping Services Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01295372 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Selvic Shipping Services Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr B A Eaton

Mr P J Woodhouse

SECRETARY:

Mr B A Eaton

REGISTERED OFFICE:

Netherlands Way

Kiln Lane Industrial Estate

Stallingborough

N E Lincolnshire

DN41 8DF

REGISTERED NUMBER:

01295372 (England and Wales)

FIXED ASSETS

Tangible assets

2

25,901

31,869

CURRENT ASSETS

Debtors

602,950

582,965

Cash at bank and in hand

487,796

235,384

1,090,746

818,349

CREDITORS

Amounts falling due within one year

578,671

531,735

NET CURRENT ASSETS

512,075

286,614

TOTAL ASSETS LESS CURRENT
LIABILITIES

537,976

318,483

PROVISIONS FOR LIABILITIES

1,905

2,366

NET ASSETS

536,071

316,117

CAPITAL AND RESERVES

Called up share capital

3

10,400

Profit and loss account

525,671

305,717

SHAREHOLDERS' FUNDS

536,071

316,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 25 August 2016 and were signed on its behalf by:

Mr B A Eaton - 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.

Buildings

-

4% on cost or to net realisable value

Fixtures & equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

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.

Employer financed retirement benefit scheme

The Company operates an employer financed retirement benefit scheme for the benefit of its officers, employees

and their wider families, The Selvic Shipping Services Limited Employer Financed Retirement Benefit Scheme

("The Scheme").

In accordance with UITF abstract 32 "Employment Benefit Trusts and other intermediate payment arrangements

the Company does not include the assets and liabilities of The Scheme on its balance sheet to the extent that it

considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of

the rights or other access to those present economic benefits.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

162,911

Additions

3,090

Disposals

(12,596

)

At 31 March 2016

153,405

DEPRECIATION

At 1 April 2015

131,042

Charge for year

7,527

Eliminated on disposal

(11,065

)

At 31 March 2016

127,504

NET BOOK VALUE

At 31 March 2016

25,901

At 31 March 2015

31,869

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

10,000

Ordinary

£1

10,000

100

'A' Ordinary

£1

100

300

'B','C' and 'D' Ordinary

£1

300

10,400