Emkay Plastics Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04009769 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2016

for

EMKAY PLASTICS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr P D Meek

Mr S R King

SECRETARY:

Mr P D Meek

REGISTERED OFFICE:

Queens Head House

The Street

Acle

Norwich

Norfolk

NR13 3DY

REGISTERED NUMBER:

04009769 (England and Wales)

ACCOUNTANTS:

Hines Harvey Woods Ltd

Chartered Certified Accountants

Queens Head House

The Street

Acle

Norwich

NR13 3DY

FIXED ASSETS

Tangible assets

2

99,044

15,540

CURRENT ASSETS

Stocks

288,341

204,614

Debtors

215,651

298,863

Cash at bank and in hand

256,384

129,895

760,376

633,372

CREDITORS

Amounts falling due within one year

333,285

184,744

NET CURRENT ASSETS

427,091

448,628

TOTAL ASSETS LESS CURRENT
LIABILITIES

526,135

464,168

PROVISIONS FOR LIABILITIES

15,952

2,468

NET ASSETS

510,183

461,700

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

510,083

461,600

SHAREHOLDERS' FUNDS

510,183

461,700

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 20 March 2017 and were signed on its behalf by:

Mr P D Meek - Director

Mr S R King - 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 is the total amount receivable by the company for the goods supplied and services provided, excluding

VAT and trade discounts.

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

-

33% on cost, 15% on reducing balance and 12.5% 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. 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.

Grants received

A grant of £19,306 was received in the year ended 31 August 2016, in connection with capital expenditure

incurred on plant and machinery and improvements to property. This has been recognised against those costs.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

84,294

Additions

87,052

At 31 August 2016

171,346

DEPRECIATION

At 1 September 2015

68,754

Charge for year

3,548

At 31 August 2016

72,302

NET BOOK VALUE

At 31 August 2016

99,044

At 31 August 2015

15,540

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31 August 2015:

2016

2015

£

Mr P D Meek

Balance outstanding at start of year

1,919

8,558

Amounts advanced

6,562

-

Amounts repaid

(7,000

)

(6,639

)

Balance outstanding at end of year

1,481

1,919