Structureseal Services Limited - Period Ending 2015-12-31

Registration number: SC438609

Structureseal Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Alexander Marshall
Chartered Accountants
84 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY

Structureseal Services 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
Structureseal Services Limited
for the Year Ended 31 December 2015

In accordance with our terms of engagement, and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Structureseal Services Limited for the year ended 31 December 2015 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

We have carried out this engagement in accordance with best practice guidance issued by the Institute of Chartered Accountants of Scotland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the preparation of financial statements. .

This report is made solely to the Board of Directors of Structureseal Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken to enable us to prepare the financial statements of Structureseal Services Limited on behalf of the Board of Directors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Structureseal Services Limited and its Board of Directors as a body for our work or for this report.

You have acknowledged on the balance sheet your duty to ensure that Structureseal Services Limited has kept adequate accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that Structureseal Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the financial statements of Structureseal Services 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.

Alexander Marshall
Chartered Accountants
84 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY

30 September 2016

Page 1

Structureseal Services Limited
(Registration number: SC438609)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					19,326			19,412
Current assets
Debtors		3			408,220			130,072
Cash at bank and in hand					41,128			23,057
					449,348			153,129
Creditors: Amounts falling due within one year					(355,001)			(126,180)
Net current assets					94,347			26,949
Total assets less current liabilities					113,673			46,361
Creditors: Amounts falling due after more than one year					-			(1,958)
Net assets					113,673			44,403
Capital and reserves
Called up share capital		4			100			2
Profit and loss account					113,573			44,401
Shareholders' funds					113,673			44,403

For the year ending 31 December 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 30 September 2016 and signed on its behalf by:

Mr Peter Henderson
Director

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

Structureseal Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 January 2015).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year for goods and services and fair value for work done and contracts in progress during the year, exclusive of Value Added Tax. In respect of long-term contracts for on-going services. turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	20% reducing balance
Plant & machinery	20% reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Page 3

Structureseal Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		27,925			27,925
Additions		5,406			5,406
Disposals		(825)			(825)
At 31 December 2015		32,506			32,506
Depreciation
At 1 January 2015		8,513			8,513
Charge for the year		4,832			4,832
Eliminated on disposals		(165)			(165)
At 31 December 2015		13,180			13,180
Net book value
At 31 December 2015		19,326			19,326
At 31 December 2014		19,412			19,412

3

Debtors

Debtors includes £nil (2014 - £nil) receivable after more than one year.

 

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share of £1 each		100			100			2			2

New shares allotted

During the year 98 Ordinary share having an aggregate nominal value of £1 were allotted for an aggregate consideration of £98.

Page 4