Single Ply Services Limited - Period Ending 2014-03-31

Registration number: 04717075

Single Ply Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

G W Jones & Co Limited

Single Ply Services Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Single Ply Services Limited
(Registration number: 04717075)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					28,077			31,794
Current assets
Stocks					12,610			36,671
Debtors					803,329			697,744
Cash at bank and in hand					2,958			36,819
					818,897			771,234
Creditors: Amounts falling due within one year					(747,371)			(722,291)
Net current assets					71,526			48,943
Total assets less current liabilities					99,603			80,737
Creditors: Amounts falling due after more than one year					(8,265)			(15,613)
Provisions for liabilities					(5,416)			(6,116)
Net assets					85,922			59,008
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					85,822			58,908
Shareholders' funds					85,922			59,008

For the year ending 31 March 2014 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 .

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Single Ply Services Limited
(Registration number: 04717075)
Abbreviated Balance Sheet at 31 March 2014
......... continued

Approved by the Board on 23 December 2014 and signed on its behalf by:

.........................................
RA Burgoyne
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Single Ply Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... 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 April 2008).

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 equipment	20% straight line
Motor vehicles	25% straight line
Fixtures and fittings	25% straight line
Short leasehold land and buildings	20% straight line

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted 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 3

Single Ply Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... 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 April 2013		54,020			54,020
Additions		7,880			7,880
At 31 March 2014		61,900			61,900
Depreciation
At 1 April 2013		22,226			22,226
Charge for the year		11,597			11,597
At 31 March 2014		33,823			33,823
Net book value
At 31 March 2014		28,077			28,077
At 31 March 2013		31,794			31,794

3

Creditors

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

		2014 £			2013 £
Amounts falling due within one year		7,347			7,347
Amounts falling due after more than one year		8,265			15,613
Total secured creditors		15,612			22,960

Page 4

Single Ply Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 5