Straw Pellets Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06796359 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

STRAW PELLETS LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr. S. A. Wells

REGISTERED OFFICE:

Rookery Farm

Louth Road

South Somercotes

LOUTH

LN11 7BW

REGISTERED NUMBER:

06796359 (England and Wales)

ACCOUNTANTS:

Smethurst & Co LLP

12 Abbey Road

GRIMSBY

DN32 0HL

BANKERS:

NatWest

Market Place

LOUTH

LN11 9NX

FIXED ASSETS

Tangible assets

4

483,866

603,860

CURRENT ASSETS

Stocks

148,229

191,574

Debtors

69,557

134,211

Cash at bank and in hand

201,319

87,385

419,105

413,170

CREDITORS

Amounts falling due within one year

306,562

405,187

NET CURRENT ASSETS

112,543

7,983

TOTAL ASSETS LESS CURRENT LIABILITIES

596,409

611,843

CREDITORS

Amounts falling due after more than one year

(167,948

)

(204,572

)

PROVISIONS FOR LIABILITIES

(90,583

)

(110,601

)

NET ASSETS

337,878

296,670

CAPITAL AND RESERVES

Allotted, called up and

fully paid share capital

100

100

Profit and loss account

337,778

296,570

SHAREHOLDERS' FUNDS

337,878

296,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 27 November 2018 and were signed by:

Mr. S. A. Wells - Director

1.	STATUTORY INFORMATION

Straw Pellets Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvement to property

-

10% Reducing Balance

Plant and machinery

-

15% Reducing Balance and 10% Reducing Balance

Motor vehicles

-

25% Reducing Balance

Office equipment

-

33% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

1,189,722

Additions

13,825

Disposals

(74,833

)

Reclassification/transfer

(331,726

)

At 31 March 2018

796,988

DEPRECIATION

At 1 April 2017

585,862

Charge for year

101,463

Eliminated on disposal

(42,484

)

Reclassification/transfer

(331,719

)

At 31 March 2018

313,122

NET BOOK VALUE

At 31 March 2018

483,866

At 31 March 2017

603,860