Elbar Services Limited - Abbreviated accounts 16.3
Elbar Services Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 March 2016 |
| for |
| Elbar Services Limited |
| Elbar Services Limited (Registered number: 03917537) |
| 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 | 4 |
| Chartered Accountants' Report | 7 |
| Elbar Services Limited |
| Company Information |
| for the Year Ended 31 March 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| BANKERS: |
| Elbar Services Limited (Registered number: 03917537) |
| Abbreviated Balance Sheet |
| 31 March 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank and in hand |
| 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 |
| Elbar Services Limited (Registered number: 03917537) |
| 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 its behalf by: |
| Elbar Services Limited (Registered number: 03917537) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 March 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| For the year ended 31 March 2016, the company made a profit after tax of £496,556 (2015: £538,870) |
| and had net current liabilities of £247,501 (2015: £221,413). The company is therefore dependent upon |
| the continued support of its bankers and creditors in order to continue trading. |
| During the year, the directors of the company moved away its commissions based activities towards |
| trading activities and the directors believe that the preparation of the financial statements on the going |
| concern basis continues to be appropriate. |
| 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). |
| Turnover |
| Turnover represents net invoiced sales of goods and sales commissions receivable, excluding value |
| added tax. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in market value is transferred to a revaluation reserve. |
| No provision is made for depreciation of investment properties. This departure from the requirements |
| of the Companies Act 2006 which require all properties to be depreciated is, in the opinion of the |
| directors, necessary for the financial statements to show a true and fair view in accordance with |
| applicable accounting standards. |
| Stocks |
| Stocks of foodstuffs and related packaging 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 material timing differences that have originated but not |
| reversed at the balance sheet date. |
| Foreign currencies |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
| Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
| held under finance leases are depreciated over their estimated useful lives or the lease term, |
| whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant |
| period. The capital element of the future payments is treated as a liability. |
| Elbar Services Limited (Registered number: 03917537) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2016 |
| 1. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable for the year are |
| charged in the profit and loss account. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2015 |
| and 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 4. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 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 | 505,875 | 313,273 |
| Elbar Services Limited (Registered number: 03917537) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2016 |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 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 |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Elbar Services Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's |
| annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
| pages two to six) have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
| the financial statements of Elbar Services Limited for the year ended 31 March 2016 which comprise the |
| Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records |
| and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Elbar Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elbar Services Limited and state those matters that we have agreed to state to the Board of Directors of Elbar Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elbar Services Limited Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Elbar Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Elbar Services Limited. You consider that Elbar Services Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Elbar Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 12 December 2016 |