Speed (Storage & Handling) Limited - Abbreviated accounts 16.1
Speed (Storage & Handling) Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| FOR |
| SPEED (STORAGE & HANDLING) LIMITED |
| SPEED (STORAGE & HANDLING) LIMITED (REGISTERED NUMBER: 00825238) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| Page |
| Abbreviated Balance Sheet | 1 |
| Notes to the Abbreviated Accounts | 3 |
| SPEED (STORAGE & HANDLING) LIMITED (REGISTERED NUMBER: 00825238) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 5 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| SPEED (STORAGE & HANDLING) LIMITED (REGISTERED NUMBER: 00825238) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 MARCH 2016 |
| 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 |
| SPEED (STORAGE & HANDLING) LIMITED (REGISTERED NUMBER: 00825238) |
| 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 as modified by the revaluation of certain assets and |
| in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
| 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. |
| Goodwill |
| Acquired goodwill is written off in equal annual amounts over its estimated useful economic life. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Investment property |
| Investment property is shown at its most recent valuation and is not depreciated. Any aggregate surplus or deficit arising from changes |
| in market value is transferred to a revaluation reserve. |
| Although this policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) it is a departure |
| from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for |
| investment and not consumption and the Directors consider that to depreciate them would not give a true and fair view. Depreciation |
| is one of many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might |
| otherwise have been charged cannot be separately identified or quantified. The Directors consider that this policy results in the |
| financial statements giving a true and fair view. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Deferred tax is not recognised on revaluation gains and losses unless, by the balance sheet date, the company has entered into a |
| binding agreement to sell the asset and has revalued the asset to the selling price. |
| 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. |
| Revenue recognition |
| Revenue is represented by rental income which is recognised on an accruals basis. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 |
| AMORTISATION |
| At 1 April 2015 |
| and 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| SPEED (STORAGE & HANDLING) LIMITED (REGISTERED NUMBER: 00825238) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| and 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 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2015 |
| Disposals | ( |
) |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 5. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2016 | 2015 |
| £ | £ |
| Repayable by instalments | 125,102 | 136,217 |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| Ordinary A | £1 |
| Ordinary B | £1 |
| Ordinary C | £1 |
| Ordinary D | £1 |
| 200 | 200 |
| SPEED (STORAGE & HANDLING) LIMITED (REGISTERED NUMBER: 00825238) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2016 and 31 March 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| The loan balances outstanding are unsecured, interest free and repayable on demand. |