Opal Fabrication Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 05230329

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2016

for

Opal Fabrication Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D N Dodd

S W Dodd

SECRETARY:

D N Dodd

REGISTERED OFFICE:

Ground Floor Windmill House

127-128 Windmill Street

Gravesend

Kent

DA12 1BL

REGISTERED NUMBER:

05230329

ACCOUNTANTS:

Reynolds - Chartered Accountants

Ground Floor Windmill House

127-128 Windmill Street

Gravesend

Kent

DA12 1BL

FIXED ASSETS

Tangible assets

2

205,757

192,708

CURRENT ASSETS

Stocks

64,665

30,914

Debtors

174,645

113,218

239,310

144,132

CREDITORS

Amounts falling due within one year

285,098

204,059

NET CURRENT LIABILITIES

(45,788

)

(59,927

)

TOTAL ASSETS LESS CURRENT LIABILITIES

159,969

132,781

CREDITORS

Amounts falling due after more than one year

(143,367

)

(136,967

)

PROVISIONS FOR LIABILITIES

(15,504

)

(8,596

)

NET ASSETS/(LIABILITIES)

1,098

(12,782

)

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

1,096

(12,784

)

SHAREHOLDERS' FUNDS

1,098

(12,782

)

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 1 March 2017 and were signed on its behalf by:

D N Dodd - Director

S W Dodd - 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 the cost less estimated residual value of 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 etc

-

25% on reducing balance, 15% on reducing balance and 10% on cost

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under

hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital

element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

273,537

Additions

32,873

At 31 August 2016

306,410

DEPRECIATION

At 1 September 2015

80,829

Charge for year

19,824

At 31 August 2016

100,653

NET BOOK VALUE

At 31 August 2016

205,757

At 31 August 2015

192,708

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2