EASTON_SHEET_METAL_LIMITE - Accounts

EASTON SHEETMETAL LIMITED - Company Information

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Company Registration No. 01328997 (England and Wales)

EASTON SHEET METAL LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

LB GROUP

Onslow House

62 Broomfield Road

Chelmsford

Essex

CM1 1SW

EASTON SHEET METAL LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

EASTON SHEET METAL LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,140,179

1,217,356

Current assets

Stocks

134,100

124,200

Debtors

821,097

950,495

Cash at bank and in hand

587,654

299,147

1,542,851

1,373,842

Creditors: amounts falling due within one year

(994,991)

(715,068)

Net current assets

547,860

658,774

Total assets less current liabilities

1,688,039

1,876,130

Creditors: amounts falling due after more than one year

(57,303)

(172,350)

Provisions for liabilities

(77,300)

(88,200)

1,553,436

1,615,580

Capital and reserves

Called up share capital

9,062

Other reserves

Profit and loss account

1,544,334

1,606,478

Shareholders' funds

1,553,436

1,615,580

EASTON SHEET METAL LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 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 for issue on 28 November 2016

Mr B easton

Mr A Easton

Director

Company Registration No. 01328997

EASTON SHEET METAL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

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).

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 other than freehold land 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:

Improvement to property

2% straight line

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.5

Leasing and hire purchase commitments

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

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

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.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.9

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

EASTON SHEET METAL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

2,428,007

Additions

160,018

Disposals

(76,517)

At 31 March 2016

2,511,508

Depreciation

At 1 April 2015

1,210,651

On disposals

(63,369)

Charge for the year

224,047

At 31 March 2016

1,371,329

Net book value

At 31 March 2016

1,140,179

At 31 March 2015

1,217,356

Share capital

2016

2015

Allotted, called up and fully paid

60 Ordinary A shares of £1 each

1 Ordinary B shares of £1 each

1 Ordinary C shares of £1 each

9,000 Ordinary E shares of £1 each

9,000

9,062