SFS Fire Engineering Limited - Period Ending 2016-10-31

Registration number: 03458782

SFS Fire Engineering Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

UHA Limited
  Chartered Certified Accountants
  241 Ruskin Park House
  Champion Hill
  London
  SE5 8TG

SFS Fire Engineering Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

SFS Fire Engineering Limited
(Registration number: 03458782)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					71,274			18,574
Current assets
Stocks					38,215			23,529
Debtors					219,137			261,924
Cash at bank and in hand					7,767			41,350
					265,119			326,803
Creditors: Amounts falling due within one year					(235,437)			(269,438)
Net current assets					29,682			57,365
Total assets less current liabilities					100,956			75,939
Creditors: Amounts falling due after more than one year					(58,217)			(34,123)
Net assets					42,739			41,816
Capital and reserves
Called up share capital		4			1,815			1,815
Capital redemption reserve					185			185
Profit and loss account					40,739			39,816
Shareholders' funds					42,739			41,816

For the year ending 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 26 June 2017 and signed on its behalf by:

.........................................
M Smyth
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

SFS Fire Engineering Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% straight line
Fixtures and fittings	20% straight line
Motor vehicles	20% straight line
Office equipment	20% straight line

Stock and work in progress

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

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

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 finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and 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.

Page 2

SFS Fire Engineering Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2015		76,334			76,334
Additions		83,790			83,790
Disposals		(32,843)			(32,843)
At 31 October 2016		127,281			127,281
Depreciation
At 1 November 2015		57,760			57,760
Charge for the year		17,953			17,953
Eliminated on disposals		(19,706)			(19,706)
At 31 October 2016		56,007			56,007
Net book value
At 31 October 2016		71,274			71,274
At 31 October 2015		18,574			18,574

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		135,701			126,333
Amounts falling due after more than one year		40,661			1,419
Total secured creditors		176,362			127,752

Page 3

SFS Fire Engineering Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		875			875			875			875
Ordinary A of £1 each		540			540			540			540
Ordinary B of £1 each		400			400			400			400
		1,815			1,815			1,815			1,815

Page 4