GB Welding Services (Rutland) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02657647

Abbreviated Unaudited Accounts for the Year Ended 31 October 2016

for

GB Welding Services (Rutland) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTORS:

G D Burton

R J Tooke

SECRETARY:

G D Burton

REGISTERED OFFICE:

Unit 4 & 6

Pillings Rd Industrial Est.

Oakham

Rutland

LE15 6QF

REGISTERED NUMBER:

02657647

ACCOUNTANTS:

Charlton Accountants Limited

71 Load St

Bewdley

Worcestershire

DY12 2AW

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

23,958

79,480

23,958

79,480

CURRENT ASSETS

Stocks

-

9,260

Debtors

23,863

153,375

Cash at bank and in hand

-

9,421

23,863

172,056

CREDITORS

Amounts falling due within one year

4

66,648

233,480

NET CURRENT LIABILITIES

(42,785

)

(61,424

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(18,827

)

18,056

CREDITORS

Amounts falling due after more than one
year

(15,430

)

(23,649

)

PROVISIONS FOR LIABILITIES

-

(9,288

)

NET LIABILITIES

(34,257

)

(14,881

)

CAPITAL AND RESERVES

Called up share capital

5

1,000

Profit and loss account

(35,257

)

(15,881

)

SHAREHOLDERS' FUNDS

(34,257

)

(14,881

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 26 July 2017 and were signed on its behalf by:

G D Burton - 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 each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

5,000

AMORTISATION

At 1 November 2015

and 31 October 2016

5,000

NET BOOK VALUE

At 31 October 2016

-

At 31 October 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

240,816

Additions

3,692

Disposals

(207,554

)

At 31 October 2016

36,954

DEPRECIATION

At 1 November 2015

161,336

Charge for year

17,841

Eliminated on disposal

(166,181

)

At 31 October 2016

12,996

NET BOOK VALUE

At 31 October 2016

23,958

At 31 October 2015

79,480

4.

CREDITORS

Creditors include an amount of £ 0 (31.10.15 - £ 84,710 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

as restated

£

1,000

Ordinary

£1

1,000

6.	RELATED PARTY DISCLOSURES

A new company under common control called GB Precision Fabrications Ltd was formed in August 2016. GB

Welding Services (Rutland) Ltd stopped trading at the end of August 2016 and transferred its trading operations

to the new company with immediate effect.The majority of the assets and liabilities were also transferred to the

new company. As at 31st October 2016 the net amount owed to GB Precision Fabrications Ltd by GB Welding

Services (Rutland) Ltd was £4304.

Any bank borrowings during the year were covered by directors' guarantees.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of GB Welding Services (Rutland) Limited for the year ended 31 October 2016 which comprise the

Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of GB Welding Services (Rutland) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GB Welding Services (Rutland) Limited and state those matters that we have agreed to state to the Board of Directors of GB Welding Services (Rutland) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that GB Welding Services (Rutland) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GB Welding Services (Rutland) Limited. You consider that GB Welding Services (Rutland) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of GB Welding Services (Rutland) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Charlton Accountants Limited

71 Load St

Bewdley

Worcestershire

DY12 2AW

26 July 2017