Sweetnam & Bradley Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06519223 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

for

Sweetnam & Bradley Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N F Johnson

C G H Olejnik

R T Wiltshire

REGISTERED OFFICE:

Industrial Estate

Gloucester Road

Malmesbury

Wiltshire

SN16 0DY

REGISTERED NUMBER:

06519223 (England and Wales)

ACCOUNTANTS:

Corrigan Associates Bristol LLP

The Tramshed

25 Lower Park Row

Bristol

BS1 5BN

FIXED ASSETS

Intangible assets

2

-

92,480

Tangible assets

3

427,153

496,584

427,153

589,064

CURRENT ASSETS

Stocks

196,200

185,614

Debtors

361,761

402,892

Cash at bank and in hand

744,863

567,615

1,302,824

1,156,121

CREDITORS

Amounts falling due within one year

294,436

332,009

NET CURRENT ASSETS

1,008,388

824,112

TOTAL ASSETS LESS CURRENT LIABILITIES

1,435,541

1,413,176

CREDITORS

Amounts falling due after more than one
year

(70,833

)

(148,231

)

PROVISIONS FOR LIABILITIES

(62,625

)

(87,715

)

NET ASSETS

1,302,083

1,177,230

CAPITAL AND RESERVES

Called up share capital

4

70,000

Profit and loss account

1,232,083

1,107,230

SHAREHOLDERS' FUNDS

1,302,083

1,177,230

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 9 March 2017 and were signed on its
behalf by:

C G H Olejnik - Director

N F Johnson - 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 amounts chargeable, net of value added tax, in respect of the sale of goods and

services to customers.

Goodwill

During the year, the useful life of positive goodwill arising on acquisitions was re-assessed by the

directors as being 7 years. This has resulted in the remaining balance being written off in the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard

for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated

costs to completion and selling costs. Cost includes all direct costs 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 payable under operating leases are charged in the profit and loss account on a straight line

basis over the lease term.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are

depreciated over their useful lives. The capital element of future finance payments is included within

creditors. Finance charges are allocated to accounting periods over the length of the contract and

represent a constant proportion of the balance of capital repayments outstanding.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

144,595

AMORTISATION

At 1 July 2015

52,115

Amortisation for year

92,480

At 30 June 2016

144,595

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

92,480

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

764,122

Additions

10,614

Disposals

(6,823

)

At 30 June 2016

767,913

DEPRECIATION

At 1 July 2015

267,538

Charge for year

76,560

Eliminated on disposal

(3,338

)

At 30 June 2016

340,760

NET BOOK VALUE

At 30 June 2016

427,153

At 30 June 2015

496,584

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

70,000

Ordinary

£1

70,000

5.	PENSION SCHEMES

Defined contribution pension scheme

The company operates a defined contribution pension scheme for the benefit of its employees. The

pension cost charge for the year represents contributions payable by the company to the scheme and

amounted to £112,363 (2015: £218,973).

Contributions totalling £2,445 (2015: £Nil) were payable to the scheme at the end of the year.