S.F. Chapman & Son (Hastings) Limited - Abbreviated accounts 16.3

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

S.F. CHAPMAN & SON (HASTINGS) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D Simnett

Mrs A J Simnett

SECRETARY:

Mrs A J Simnett

REGISTERED OFFICE:

16 Beachy Head View

St Leonards on Sea

East Sussex

TN38 8EW

REGISTERED NUMBER:

00755160 (England and Wales)

BANKERS:

Barclays Bank PLC

Hanover House

Marine Court

St Leonards on Sea

East Sussex

TN38 0DX

FIXED ASSETS

Tangible assets

2

3,121

4,144

CURRENT ASSETS

Stocks

500

Debtors

4,556

326

Cash at bank

14,968

18,869

20,024

19,695

CREDITORS

Amounts falling due within one year

(13,094

)

(12,596

)

NET CURRENT ASSETS

6,930

7,099

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,051

11,243

PROVISIONS FOR LIABILITIES

(624

)

(829

)

NET ASSETS

9,427

10,414

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

9,423

10,410

SHAREHOLDERS' FUNDS

9,427

10,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 5 December 2016 and were signed on its behalf
by:

D Simnett - Director

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).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

19,526

DEPRECIATION

At 1 April 2015

15,382

Charge for year

1,023

At 31 March 2016

16,405

NET BOOK VALUE

At 31 March 2016

3,121

At 31 March 2015

4,144

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

8

Ordinary

50p

4

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2016 and

31 March 2015:

2016

2015

£

Mrs A J Simnett

Balance outstanding at start of year

118

(561

)

Amounts advanced

1,150

679

Amounts repaid

(125

)

-

Balance outstanding at end of year

1,143

118