Louth Transformer Company Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02180587 (England and Wales)

LOUTH TRANSFORMER COMPANY LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST OCTOBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

DIRECTORS:

K R L Mead

Mrs J Smith

SECRETARY:

K R L Mead

REGISTERED OFFICE:

Belvoir Way

Fairfield Industrial Estate

Louth

Lincolnshire

LN11 0LQ

REGISTERED NUMBER:

02180587 (England and Wales)

ACCOUNTANTS:

Weaver Wroot

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

FIXED ASSETS

Tangible assets

2

88,696

87,198

CURRENT ASSETS

Stocks

70,031

60,388

Debtors

187,522

109,589

Cash at bank and in hand

645,931

530,813

903,484

700,790

CREDITORS

Amounts falling due within one year

93,651

44,535

NET CURRENT ASSETS

809,833

656,255

TOTAL ASSETS LESS CURRENT
LIABILITIES

898,529

743,453

PROVISIONS FOR LIABILITIES

4,885

4,355

NET ASSETS

893,644

739,098

CAPITAL AND RESERVES

Called up share capital

3

5,000

Capital redemption reserve

4,000

Profit and loss account

884,644

730,098

SHAREHOLDERS' FUNDS

893,644

739,098

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 2nd February 2017 and were signed on its behalf
by:

K R L Mead - 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, 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.

Freehold property

-

Straight line over 20 years

Plant and machinery

-

20% 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 1st November 2015

394,151

Additions

8,729

At 31st October 2016

402,880

DEPRECIATION

At 1st November 2015

306,953

Charge for year

7,231

At 31st October 2016

314,184

NET BOOK VALUE

At 31st October 2016

88,696

At 31st October 2015

87,198

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

5,000

Ordinary £1

£1

5,000