Shamrock Works Limited - Period Ending 2016-04-30

Registration number: 03354661

Shamrock Works Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Shamrock Works Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Shamrock Works Limited
(Registration number: 03354661)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					3,219			4,292
Current assets
Stocks					9,800			19,800
Debtors					43,483			29,989
Cash at bank and in hand					18,732			7,132
					72,015			56,921
Creditors: Amounts falling due within one year					(56,456)			(39,684)
Net current assets					15,559			17,237
Net assets					18,778			21,529
Capital and reserves
Called up share capital		3			90			100
Capital redemption reserve					10			-
Profit and loss account					18,678			21,429
Shareholders' funds					18,778			21,529

For the year ending 30 April 2016 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 3 November 2016 and signed on its behalf by:

.........................................
R P Jones
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Shamrock Works Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale and repair of motor vehicles.

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
Plant and equipment	25% per annum of net book value
Office equipment	25% per annum of net book value
Motor vehicles	25% per annum of net book value

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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 2

Shamrock Works Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2015		70,605			70,605
At 30 April 2016		70,605			70,605
Depreciation
At 1 May 2015		66,313			66,313
Charge for the year		1,073			1,073
At 30 April 2016		67,386			67,386
Net book value
At 30 April 2016		3,219			3,219
At 30 April 2015		4,292			4,292

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A shares of £1 each		90			90			90			90
Ordinary B shares of £1 each		-			-			10			10
		90			90			100			100

Purchase of own shares

During the year the company purchased 10 of its own Ordinary B shares at a nominal value of £450. The Ordinary B shares were purchased for a consideration of £450 and represent 100% of the called up share capital of that class of share.

Page 3