SHAWS (IRONMONGERS) LIMITED Small abridged accounts
SHAWS (IRONMONGERS) LIMITED Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
00654900
|
|
|
Chartered Certified Accountants
Media House
63 Wostenholm Road
Sheffield
S7 1LE
|
Abridged Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Abridged statement of financial position |
1 |
Notes to the abridged financial statements |
3 |
|
Abridged Statement of Financial Position |
2017 |
2016 |
||
Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
6 |
|
|
|
Investments |
7 |
|
|
|
--------- |
--------- |
|||
|
|
|||
Current assets
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
--------- |
--------- |
||
|
|
||
Creditors: amounts falling due within one year |
|
|
|
--------- |
--------- |
||
Net current assets |
|
|
|
--------- |
--------- |
||
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
|
|
|
Provisions
Taxation including deferred tax |
|
|
|
--------- |
--------- |
||
Net assets |
|
|
|
--------- |
--------- |
||
Capital and reserves
Called up share capital |
|
|
|
Share premium account |
|
|
|
Profit and loss account |
|
|
|
--------- |
--------- |
||
Members funds |
|
|
|
--------- |
--------- |
||
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
|
Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
13 December 2017
, and are signed on behalf of the board by:
|
|
Director |
|
Company registration number:
00654900
|
Notes to the Abridged Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 116-118 Duchess Road, Sheffield, S2 4BL.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property |
- |
|
|
Fixtures & fittings |
- |
|
|
Motor Vehicles |
- |
|
|
Office equipment |
- |
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in joint ventures
Stocks
Provisions
Financial instruments
Defined contribution plans
4.
Staff costs
The average number of persons employed by the company during the year, including the director, amounted to 11 (2016: 12).
5.
Profit before taxation
Profit before taxation is stated after charging:
2017 |
2016 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
-------- |
-------- |
|
6.
Tangible assets
£ |
|
Cost |
|
At 1 April 2016 and 31 March 2017 |
|
--------- |
|
Depreciation |
|
At 1 April 2016 |
|
Charge for the year |
|
--------- |
|
At 31 March 2017 |
|
--------- |
|
Carrying amount |
|
At 31 March 2017 |
107,538 |
--------- |
|
At 31 March 2016 |
118,559 |
--------- |
|
7.
Investments
£ |
|
Cost |
|
At 1 April 2016 |
|
Additions |
|
--------- |
|
At 31 March 2017 |
|
--------- |
|
Impairment |
|
At 1 April 2016 and 31 March 2017 |
– |
--------- |
|
Carrying amount |
|
At 31 March 2017 |
|
--------- |
|
At 31 March 2016 |
|
--------- |
|
8.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.