Stringer Limited - Accounts to registrar - small 17.2
Stringer Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| STRINGER LIMITED |
| STRINGER LIMITED (REGISTERED NUMBER: 02598089) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| STRINGER LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| CHARTERED ACCOUNTANTS |
| 13 DAVID MEWS |
| PORTER STREET |
| LONDON |
| W1U 6EQ |
| STRINGER LIMITED (REGISTERED NUMBER: 02598089) |
| BALANCE SHEET |
| 31 DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 10 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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. |
| STRINGER LIMITED (REGISTERED NUMBER: 02598089) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2016 |
| 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 signed on its behalf by: |
| STRINGER LIMITED (REGISTERED NUMBER: 02598089) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Stringer Limited is a |
| 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 |
| Reconciliation with previous Generally Accepted Accounting Principles |
| In preparing the accounts, the Director has considered whether in applying the accounting policies |
| required by section 1A of FRS 102 the restatement of comparative items was required. The |
| Director is of the view that no restatements are required. |
| Going concern |
| The company had net current liabilities of £205,322 at 31 December 2016. The financial |
| statements have been prepared on a going concern basis, as the Company continues to enjoy the |
| full support of the Bankers and the Shareholder. The financial statements do not include any |
| adjustments that may arise from a failure to obtain financial support. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. Sales are recognised |
| when the goods are delivered. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| The Freehold Building was being depreciated over 25 years up to 2007. In 2008 the Property was |
| revalued and was subject to annual impairment reviews. In June 2013 the Property was again |
| professionally revalued. The Director has used this latest professional valuation and based on |
| recent valuations of similar units by property agents for the purposes of these financial |
| statements. |
| No depreciation is provided on revalued freehold building on the grounds that this is immaterial. |
| 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 is calculated using the first-in, first-out method and includes all purchase, transport, and |
| handling costs in bringing stocks to their present location and condition. |
| Cost, in respect of products manufactured by the company, is calculated by reference to selling |
| price less appropriate margins. |
| STRINGER LIMITED (REGISTERED NUMBER: 02598089) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 taxation |
| 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. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired |
| at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the |
| asset's cash generating unit, is estimated and compared to the carrying amount. Where the |
| carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss |
| unless the asset is carried at a revalued amount where the impairment loss is a revaluation |
| decrease |
| Debtors and creditors receivable and payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are |
| recorded at transaction price. Any losses arising from impairment are recognised in the profit and |
| loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2016 |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| STRINGER LIMITED (REGISTERED NUMBER: 02598089) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2016 |
| Additions |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Cost or valuation at 31 December 2016 is represented by: |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| Valuation in 2011 | 3,509 | - | - |
| Valuation in 2013 | 69,986 | - | - |
| Cost | 1,104,646 | 146,308 | 25,043 |
| 1,178,141 | 146,308 | 25,043 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Valuation in 2011 | - | - | 3,509 |
| Valuation in 2013 | - | - | 69,986 |
| Cost | 17,042 | 22,677 | 1,315,716 |
| 17,042 | 22,677 | 1,389,211 |
| The freehold property at 151-161 Tunnel Avenue was revalued by Glenny LLP in June 2013, and |
| the Director has used this valuation together with recent valuations of similar units by property |
| valuers for the purposes of these financial statements. |
| STRINGER LIMITED (REGISTERED NUMBER: 02598089) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2016 |
| and 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | STOCKS |
| 2016 | 2015 |
| £ | £ |
| Stocks |
| Work-in-progress |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Other Debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 41,998 | 20,963 |
| Other creditors |
| Directors' loan accounts | 93,528 | 99,957 |
| Accrued expenses |
| STRINGER LIMITED (REGISTERED NUMBER: 02598089) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Mortgage Loan | 212,270 | 238,464 |
| Hire purchase contracts |
| Interest is charged at commercial rates. |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2016 | 2015 |
| £ | £ |
| Mortgage Loan | 283,513 | 309,707 |
| 10. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2016 | 729,935 |
| Profit for the year |
| At 31 December 2016 | 777,314 |