SAPER_GLASS_INDUSTRIES_LI - Accounts

SAPER GLASS INDUSTRIES LIMITED - Company Information

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Company Registration No. 02159815 (England and Wales)

SAPER GLASS INDUSTRIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2015

SAPER GLASS INDUSTRIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

SAPER GLASS INDUSTRIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

ASSETS

Fixed assets

Tangible assets

332,338

376,632

Investments

332,339

376,633

Current assets

Stocks

107,016

222,782

Debtors

2,202,315

1,818,085

Cash at bank and in hand

130,491

113,434

2,439,822

2,154,301

502,543

713,726

LIABILITIES

Capital and reserves

Called up share capital

Profit and loss account

451,704

603,350

451,714

603,360

Creditors: amounts falling due within one year

2,269,618

1,817,208

Creditors: amounts falling due after more than one year

50,829

110,366

2,772,161

2,530,934

SAPER GLASS INDUSTRIES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial period ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

The directors acknowledge their 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 September 2016

P J McCarthy

Director

Company Registration No. 02159815

SAPER GLASS INDUSTRIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 DECEMBER 2015

- 3 -

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 April 2008).

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 the value of work done, net of VAT, including estimates of amounts not invoiced by reference to stage of completion. Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses.

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

15% Reducing balance

Fixtures, fittings and equipment

15% Reducing balance

Motor vehicles

15% Reducing balance

1.5

Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the their useful lives, in line with other tangible assets. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

1.8

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

1.9

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

SAPER GLASS INDUSTRIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 October 2014

1,250,642

1,250,643

Additions

29,148

Disposals

(119,262)

At 31 December 2015

1,160,528

1,160,529

Depreciation

At 1 October 2014

874,010

On disposals

(119,262)

Charge for the period

73,442

At 31 December 2015

828,190

Net book value

At 31 December 2015

332,338

332,339

At 30 September 2014

376,632

376,633

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Saper Longreach Limited

England and Wales

Ordinary

100.00

Participating interests

101 Longreach Limited

England and Wales

Ordinary

50.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Saper Longreach Limited

Investment property

33,969

46,392

101 Longreach Limited

Dormant

100

The company's interest in 101 Longreach Limited is held by Saper Longreach Limited.

SAPER GLASS INDUSTRIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 DECEMBER 2015

- 5 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £318,922 (2014 - £273,225).

Share capital

2015

2014

Allotted, called up and fully paid

5 Ordinary A Shares of £1 each

4 Ordinary B Shares of £1 each

1 Ordinary C Share of £1 each

Related party relationships and transactions

Loans to directors

Transactions in relation to loans with directors during the period are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

G McCarthy - loan

3.00

39,861

47,736

88,053

(456)

P J McCarthy - loan

3.00

(1,851)

164,408

162,736

(97)

38,010

212,144

250,789

(553)

The maximum amounts outstanding for the period for G McCarthy was £35,861 and for P McCarthy was £18,259.