STANCROFT_LIMITED - Accounts

STANCROFT LIMITED - Company Information

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Company Registration No. 1421232 (England and Wales)

STANCROFT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

STANCROFT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

STANCROFT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

144,157

147,673

Current assets

Debtors

181,016

180,984

Cash at bank and in hand

90,299

100,857

271,315

281,841

Creditors: amounts falling due within one year

(33,931)

(48,154)

Net current assets

237,384

233,687

Total assets less current liabilities

381,541

381,360

Capital and reserves

Called up share capital

5,615

Profit and loss account

375,926

375,745

Shareholders' funds

381,541

381,360

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 24 March 2017

Mrs J Williams

Director

Company Registration No. 1421232

STANCROFT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Straight line over 50 years

Fixed assets

Tangible assets

Cost

At 1 October 2015 & at 30 September 2016

175,801

Depreciation

At 1 October 2015

28,128

Charge for the year

3,516

At 30 September 2016

31,644

Net book value

At 30 September 2016

144,157

At 30 September 2015

147,673

STANCROFT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

175 1st redeemable cumulative preference shares of £1 each

175

5,340 2nd redeemable cumulative preference shares of £1 each

5,340

5,615

The rights attaching to each class of share are as follows:

(i) Dividends

Any amount distributed in respect of the financial year must be applied:

(a) first in paying a fixed cumulative preferential dividend of £100 including any tax credit on each 1st preference share.

(b) second in paying a fixed cumulative preference dividend of 15p including any tax credit on each 2nd preference share.

(ii) Capital

On liquidation the company's surplus assets must be applied first in repaying the first preference shares and any arrears of dividend, second the 2nd preference shares and any arrears of dividend and third in repaying the ordinary shares at par, any remaining surplus being distributed on the basis that the three classes of shares constitute only one.

(iii) Voting

The shareholders of the preference shares only have votes on resolutions affecting the preference shares.

The preference shares have no fixed repayment date.

Controlling interest

The company is controlled by Mrs J. Williams, a director of the company, by virtue of holding a majority of the issued share capital of the company.