James Bridge Steel Services Limited - Abbreviated accounts 16.3
James Bridge Steel Services Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 March 2016 |
| for |
| JAMES BRIDGE STEEL SERVICES LIMITED |
| JAMES BRIDGE STEEL SERVICES LIMITED (REGISTERED NUMBER: 01705763) |
| Contents of the Abbreviated Accounts |
| for the year ended 31 March 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| JAMES BRIDGE STEEL SERVICES LIMITED |
| Company Information |
| for the year ended 31 March 2016 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| Bankers: |
| JAMES BRIDGE STEEL SERVICES LIMITED (REGISTERED NUMBER: 01705763) |
| Abbreviated Balance Sheet |
| 31 March 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 2 |
| Investments | 3 |
| Current assets |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities |
| Net assets |
| Capital and reserves |
| Called up share capital | 4 |
| Profit and loss account |
| Shareholders' funds |
| The directors acknowledge their 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 Board of Directors on by: |
| JAMES BRIDGE STEEL SERVICES LIMITED (REGISTERED NUMBER: 01705763) |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2016 |
| 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 January 2015). |
| Preparation of consolidated financial statements |
| The financial statements contain information about James Bridge Steel Services Limited as an individual |
| company and do not contain consolidated financial information as the parent of a group. The company has taken |
| the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
| small company. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any |
| incidental costs of acquisition. |
| Depreciation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the |
| useful economic life of that asset as follows: |
| Plant and machinery | - | 10-15% straight line basis |
| Fixtures and fittings | - | 15-20% straight line basis |
| Motor vehicles | - | 25% reducing balance basis |
| 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 where transactions or events have occurred at that date that will result in an obligation to pay |
| more, or a right to pay less or to receive more tax, with the following exceptions: |
| Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed |
| assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the |
| extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. |
| However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more |
| likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the |
| replacement assets are sold. |
| Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not |
| that there will be suitable taxable profits from which the future reversal of the underlying timing differences can |
| be deducted. |
| Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in |
| which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance |
| sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
| at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Pension costs |
| The company operates a defined pension contribution pension scheme and the pension charge represents the |
| amounts payable by the company to the fund in respect of the year. The assets of the scheme are held |
| separately from those of the company in an independently administered fund. |
| JAMES BRIDGE STEEL SERVICES LIMITED (REGISTERED NUMBER: 01705763) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 March 2016 |
| 2. | Tangible fixed assets |
| Total |
| £ |
| Cost |
| At 1 April 2015 |
| Additions |
| At 31 March 2016 |
| Depreciation |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| Net book value |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | Fixed asset investments |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 75.00 |
| £ | £ |
| Aggregate capital and reserves | 1,000 | 1,000 |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 2 | 2 |
| 4. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |