North Valley Metal Co (Colne) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00887561 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016

for

North Valley Metal Co (Colne) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J Seymour

SECRETARY:

Mrs R Seymour

REGISTERED OFFICE:

Walverdene Works

Brook Street

Nelson

Lancashire

BB9 9PU

REGISTERED NUMBER:

00887561 (England and Wales)

ACCOUNTANTS:

Egan Roberts Limited

Chartered Accountants

Suite 46

Manor Court

Salesbury Hall Road

Ribchester

Lancashire

PR3 3XR

FIXED ASSETS

Tangible assets

2

439,446

408,698

CURRENT ASSETS

Stocks

1,103,008

886,523

Debtors

1,620,748

1,512,927

Cash at bank and in hand

2,976

13,800

2,726,732

2,413,250

CREDITORS

Amounts falling due within one year

1,096,788

953,585

NET CURRENT ASSETS

1,629,944

1,459,665

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,069,390

1,868,363

CREDITORS

Amounts falling due after more than one
year

(101,426

)

-

PROVISIONS FOR LIABILITIES

(16,497

)

(8,980

)

NET ASSETS

1,951,467

1,859,383

CAPITAL AND RESERVES

Called up share capital

3

100

Revaluation reserve

321,224

Profit and loss account

1,630,143

1,538,059

SHAREHOLDERS' FUNDS

1,951,467

1,859,383

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 1 June 2017 and were signed by:

J Seymour - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

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.

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.

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

period of the lease.

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.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2015

790,748

Additions

57,371

At 30 September 2016

848,119

DEPRECIATION

At 1 October 2015

382,050

Charge for year

26,623

At 30 September 2016

408,673

NET BOOK VALUE

At 30 September 2016

439,446

At 30 September 2015

408,698

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary shares

£1

100