SRS Manufacturing Ltd - Accounts to registrar - small 16.3d
SRS Manufacturing Ltd - Accounts to registrar - small 16.3d
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016 |
| FOR |
| SRS MANUFACTURING LTD |
| SRS MANUFACTURING LTD (REGISTERED NUMBER: 06746795) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| Page |
| Balance sheet | 1 |
| Notes to the financial statements | 2 |
| SRS MANUFACTURING LTD (REGISTERED NUMBER: 06746795) |
| BALANCE SHEET |
| 31 MARCH 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| Provisions for liabilities | 9 | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 10 |
| Retained earnings |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| SRS MANUFACTURING LTD (REGISTERED NUMBER: 06746795) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 1. | Statutory information |
| SRS Manufacturing Limited is a private company, limited by shares, registered in England and Wales. The company's |
| registered number is 06746795. The registered office is 7 & 8 Church Street, Wimborne, BH21 1JH and business address is |
| Unit 2C, Stone Lane, Wimborne, BH21 1HE. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts receivable, excluding value added tax, in respect of services provided in the ordinary course |
| of business. Turnover is recognised when the service has been provided to the customer. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, |
| costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using |
| the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| Taxation |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or |
| past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that |
| have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of |
| current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing |
| differences are differences between taxable profits and total comprehensive income as stated in the financial statements |
| that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are |
| recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the |
| extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable |
| profits. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet |
| date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible |
| fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
| Financial instruments |
| Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the |
| contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract |
| that evidences a residual interest in the assets of the company, after deducting all liabilities. |
| At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any |
| losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| SRS MANUFACTURING LTD (REGISTERED NUMBER: 06746795) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 4. | Tangible fixed assets |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| 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 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| 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 |
| 5. | Debtors: amounts falling due within one year |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | 10,323 | 3,421 |
| Prepayments |
| SRS MANUFACTURING LTD (REGISTERED NUMBER: 06746795) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 6. | Creditors: amounts falling due within one year |
| 2016 | 2015 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 1,153 | 3,143 |
| Directors' loan accounts | 19,518 | 19,518 |
| Accruals and deferred income |
| 7. | Creditors: amounts falling due after more than one year |
| 2016 | 2015 |
| £ | £ |
| Hire purchase contracts |
| 8. | Secured debts |
| The following secured debts are included within creditors: |
| 2016 | 2015 |
| £ | £ |
| Hire purchase contracts | 7,351 | 9,610 |
| Amounts relating to hire purchase contracts are secured against the assets to which they relate. |
| 9. | Provisions for liabilities |
| 2016 | 2015 |
| £ | £ |
| Deferred tax | 2,176 | 2,809 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2015 |
| Credit to Statement of comprehensive income during year | ( |
) |
| Balance at 31 March 2016 |
| 10. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary A | £1 | 4 | 4 |
| Ordinary B | £1 | 1 | 1 |
| Ordinary C & D | £1 | 2 | 2 |
| 7 | 7 |
| SRS MANUFACTURING LTD (REGISTERED NUMBER: 06746795) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 11. | 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 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The maximum outstanding balance during the year was £10,323. The amount outstanding at the balance sheet date was |
| repaid within nine months of the year end. |
| 12. | Ultimate controlling party |
| The company is controlled by the directors Mr S Kerley and Mr S Udell who together own 100% of the voting share capital. |
| 13. | First year adoption |
| These financial statements for the year ended 31 March 2016 are the first financial statements that comply with FRS 102 |
| Section 1A small entities. The date of transition is 01 April 2014. |
| The transition to FRS102 Section 1A small entities has resulted in a small number of changes in accounting policies to those |
| previously used. |
| The nature of these changes and their impact on opening equity and profit, where applicable, is detailed in the notes to |
| these financial statements. |