St Leonards Glass Co Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 09530413 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

St Leonards Glass Co Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

B E Scarles

Mrs S E Scarles

B D Scarles

Mrs M M Scarles

SECRETARY:

B E Scarles

REGISTERED OFFICE:

4 Cambridge Gardens

Hastings

East Sussex

TN34 1EH

REGISTERED NUMBER:

09530413 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

4 Cambridge Gardens

Hastings

East Sussex

TN34 1EH

FIXED ASSETS

Intangible assets

2

37,800

-

Tangible assets

3

16,911

-

54,711

-

CURRENT ASSETS

Stocks

15,583

-

Debtors

106,386

-

Cash at bank and in hand

84,582

100

206,551

100

CREDITORS

Amounts falling due within one year

204,006

-

NET CURRENT ASSETS

2,545

100

TOTAL ASSETS LESS CURRENT
LIABILITIES

57,256

100

PROVISIONS FOR LIABILITIES

3,383

-

NET ASSETS

53,873

100

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

53,773

-

SHAREHOLDERS' FUNDS

53,873

100

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 24 February 2017 and were signed on its behalf
by:

B E Scarles - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

42,000

At 31 May 2016

42,000

AMORTISATION

Amortisation for year

4,200

At 31 May 2016

4,200

NET BOOK VALUE

At 31 May 2016

37,800

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

18,926

At 31 May 2016

18,926

DEPRECIATION

Charge for year

2,015

At 31 May 2016

2,015

NET BOOK VALUE

At 31 May 2016

16,911

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

100

Ordinary shares

1

100