Screw Mill Castings Limited - Accounts to registrar - small 17.1

Screw Mill Castings Limited - Accounts to registrar - small 17.1

SCREW MILL CASTINGS LIMITED - Company Information

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REGISTERED NUMBER: 02207146 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Screw Mill Castings Limited

Screw Mill Castings Limited (Registered number: 02207146)






Contents of the Financial Statements
for the Year Ended 31 December 2016




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Screw Mill Castings Limited

Company Information
for the Year Ended 31 December 2016







DIRECTORS: D. C. Evans
Mrs E. Statham





SECRETARY: D. C. Evans





REGISTERED OFFICE: Midland Road
Swadlincote
Derbyshire
DE11 0AN





REGISTERED NUMBER: 02207146 (England and Wales)





ACCOUNTANTS: Bourne & Co.
Chartered Accountants
3 Charnwood Street
Derby
Derbyshire
DE1 2GY
Page 1
Screw Mill Castings Limited (Registered number: 02207146)

Abridged Balance Sheet
31 December 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 20,396 23,037
20,396 23,037

CURRENT ASSETS
Stocks 500 500
Debtors 66,865 49,669
Cash at bank 7,680 4,284
75,045 54,453
CREDITORS
Amounts falling due within one year 77,131 64,264
NET CURRENT LIABILITIES (2,086 ) (9,811 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
18,310
13,226

PROVISIONS FOR LIABILITIES 6 3,987 4,488
NET ASSETS 14,323 8,738

CAPITAL AND RESERVES
Called up share capital 7 99 99
Retained earnings 14,224 8,639
SHAREHOLDERS' FUNDS 14,323 8,738

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 March 2017 and were signed on its behalf by:





D. C. Evans - Director


The notes form part of these financial statements

Page 2
Screw Mill Castings Limited (Registered number: 02207146)

Notes to the Financial Statements
for the Year Ended 31 December 2016

1. STATUTORY INFORMATION

Screw Mill Castings Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been prepared under FRS102 section 1A. The
transition date was 1st January 2015 and no changes were required as a result.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.


Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been written off in
full.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted
or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal
of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Page 3 continued...
Screw Mill Castings Limited (Registered number: 02207146)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2016
and 31 December 2016 111,104
AMORTISATION
At 1 January 2016
and 31 December 2016 111,104
NET BOOK VALUE

At 31 December 2016 -
At 31 December 2015 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2016 40,252
Additions 2,921
At 31 December 2016 43,173
DEPRECIATION
At 1 January 2016 17,215
Charge for year 5,562
At 31 December 2016 22,777
NET BOOK VALUE
At 31 December 2016 20,396
At 31 December 2015 23,037

6. PROVISIONS FOR LIABILITIES
2016 2015
£    £   
Deferred tax
Accelerated capital allowances 3,987 4,488

Deferred
tax
£   
Balance at 1 January 2016 4,488
Provided during year (501 )
Balance at 31 December 2016 3,987

7. CALLED UP SHARE CAPITAL


Allotted and issued:
Number: Class: Nominal 2016 2015
value: £    £   
99 Share capital 1 £1 99 99

Page 4 continued...
Screw Mill Castings Limited (Registered number: 02207146)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016

8. CONTROLLING PARTY

The parties controlling the company are D. C. Evans and Mrs. R. M. Evans by virtue of their combined ownership
of two thirds of the company's issued share capital.

Page 5