Stag Composites And Mouldings Ltd - Limited company accounts 11.4
Stag Composites And Mouldings Ltd - Limited company accounts 11.4
| REGISTERED NUMBER: |
| Stag Composites And Mouldings Ltd |
| Report of the Director and |
| Unaudited Financial Statements |
| for the Year Ended |
| 31 December 2013 |
| Stag Composites And Mouldings Ltd (Registered number: 07540762) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2013 |
| Page |
| Company Information | 1 |
| Report of the Director | 2 |
| Profit and Loss Account | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 | to | 7 |
| Stag Composites And Mouldings Ltd |
| Company Information |
| for the Year Ended 31 December 2013 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Stag Composites And Mouldings Ltd (Registered number: 07540762) |
| Report of the Director |
| for the Year Ended 31 December 2013 |
| The director presents his report with the financial statements of the company for the year ended 31 December 2013. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of glass fibre manufacturing. |
| DIRECTOR |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating |
| to small companies. |
| ON BEHALF OF THE BOARD: |
| Stag Composites And Mouldings Ltd (Registered number: 07540762) |
| Profit and Loss Account |
| for the Year Ended 31 December 2013 |
| 2013 | 2012 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING PROFIT/(LOSS) | 2 | ( |
) |
| Interest receivable and similar income |
| 4,994 | (22,698 | ) |
| Interest payable and similar charges |
| PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION |
( |
) |
| Tax on profit/(loss) on ordinary activities | 3 |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR | ( |
) |
| Stag Composites And Mouldings Ltd (Registered number: 07540762) |
| Balance Sheet |
| 31 December 2013 |
| 2013 | 2012 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Prepayments and accrued income |
| Cash at bank and in hand | ( |
) |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Profit and loss account | 9 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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 financial statements were approved by the director on |
| Stag Composites And Mouldings Ltd (Registered number: 07540762) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2013 |
| 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 April 2008). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| 2. | OPERATING PROFIT/(LOSS) |
| The operating profit (2012 - operating loss) is stated after charging: |
| 2013 | 2012 |
| £ | £ |
| Depreciation - owned assets |
| Director's remuneration and other benefits etc |
| 3. | TAXATION |
| Analysis of the tax charge |
| No liability to UK corporation tax arose on ordinary activities for the year ended 31 December 2013 nor for the |
| year ended 31 December 2012. |
| Stag Composites And Mouldings Ltd (Registered number: 07540762) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2013 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2013 |
| Additions |
| At 31 December 2013 |
| DEPRECIATION |
| At 1 January 2013 |
| Charge for year |
| At 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| Included in the net book value of tangible fixed assets is £8,284 (2012 - £11,046) of assets held under hire |
| purchase agreements. Depreciation on those assets during the year was £2,762 (2012 - £1,949). |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2013 | 2012 |
| £ | £ |
| Trade debtors | 47,016 | 20,508 |
| Other debtors | 11,852 | 9,300 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2013 | 2012 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2013 | 2012 |
| £ | £ |
| Hire purchase contracts |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2013 | 2012 |
| value: | £ | £ |
| Ordinary | £1 |
| Stag Composites And Mouldings Ltd (Registered number: 07540762) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2013 |
| 9. | RESERVES |
| Profit |
| and loss |
| account |
| £ |
| At 1 January 2013 | ( |
) |
| Profit for the year |
| At 31 December 2013 | ( |
) |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 December 2013 and |
| 31 December 2012: |
| 2013 | 2012 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |
| The outstanding directors advance is unsecured and interest free. It will be repaid by way of a dividend within 9 |
| months of the year end. |