STAINLESS_BRASS_&_GLASS_L - Accounts

STAINLESS BRASS & GLASS LIMITED - Company Information

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Company Registration No. 03924662 (England and Wales)

STAINLESS BRASS & GLASS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2016

STAINLESS BRASS & GLASS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

STAINLESS BRASS & GLASS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

28 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

59,494

77,713

Current assets

Stocks

300

Debtors

161,605

104,471

Cash at bank and in hand

4,576

48,738

166,481

153,509

Creditors: amounts falling due within one year

(147,886)

(145,071)

Net current assets

18,595

8,438

Total assets less current liabilities

78,089

86,151

Creditors: amounts falling due after more than one year

(39,335)

(51,876)

38,754

34,275

Capital and reserves

Called up share capital

100

Profit and loss account

38,654

34,175

Shareholders' funds

38,754

34,275

For the financial year ended 28 February 2016 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 year 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 and authorised for issue on 18 October 2016

Mr C C Gooch

Director

Company Registration No. 03924662

STAINLESS BRASS & GLASS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2016

- 2 -

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 January 2015).

The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is appropriate because there are no material uncertanties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

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 amounts receivable for goods and services net of VAT and trade discounts.

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:

Fixtures, fittings & equipment

15% reducing balance

Motor vehicles

25% reducing balance/over lease term

1.5

Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. 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

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

STAINLESS BRASS & GLASS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 March 2015 & at 28 February 2016

121,716

Depreciation

At 1 March 2015

44,003

Charge for the year

18,219

At 28 February 2016

62,222

Net book value

At 28 February 2016

59,494

At 28 February 2015

77,713

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100