SARABEC LIMITED Accounts filed on 31-08-2014

SARABEC LIMITED Accounts filed on 31-08-2014

SARABEC LIMITED - Company Information

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SARABEC LIMITED




Company Registration Number:
02125618 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st September 2013

End date: 31st August 2014

SUBMITTED

SARABEC LIMITED

Company Information
for the Period Ended 31st August 2014




Director: Colin Foxton
Company secretary: Howard Dawson
Registered office: 15c High Force Road
Riverside Park Industrial Estate
Middlesbrough
TS2 1RH
Company Registration Number: 02125618 (England and Wales)

SARABEC LIMITED

Abbreviated Balance sheet
As at 31st August 2014

Notes 2014
£		 2013
£
Fixed assets
Intangible assets: 0 0
Tangible assets: 4 28,546 34,372
Total fixed assets: 28,546 34,372
Current assets
Stocks: 217,352 116,946
Debtors: 5 186,250 206,199
Cash at bank and in hand: 1,314 2,383
Total current assets: 404,916 325,528
Creditors
Creditors: amounts falling due within one year 6 311,565 242,849
Net current assets (liabilities): 93,351 82,679
Total assets less current liabilities: 121,897 117,051
Creditors: amounts falling due after more than one year: 7 11,675 9,954
Provision for liabilities: 0 0
Total net assets (liabilities): 110,222 107,097

The notes form part of these financial statements

SARABEC LIMITED

Abbreviated Balance sheet
As at 31st August 2014
continued

Notes 2014
£		 2013
£
Capital and reserves
Called up share capital: 8 403,000 403,000
Revaluation reserve: 0 0
Profit and Loss account: ( 292,778 ) ( 295,903 )
Total shareholders funds: 110,222 107,097

For the year ending 31 August 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 27 May 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: Colin Foxton
Status: Director

The notes form part of these financial statements

SARABEC LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st August 2014

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The accounts have been prepared on the basis that all operations are continuing operations. There are no recognised gains or losses other than those passing through the profit and loss account

    Turnover policy

    Turnover represents amounts receivable for goods and services net of Vat and trade discounts.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write of the cost of each asset over its useful life as follows: Plant and Machinery acquired on or before 31st August - 25% reducing balance Plant and Machinery acquired after 31st August 2011 - 25% straight line.

    Intangible fixed assets amortisation policy

    Intangible Assets are stated at Nil Value

    Valuation information and policy

    Stock and Work in Progress are valued at the lower of cost or net realisable value.

SARABEC LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st August 2014

  • 4. Tangible assets

    Total
    Cost £
    At 01st September 2013: 382,340
    Additions: 1,761
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    At 31st August 2014: 384,101
    Depreciation
    At 01st September 2013: 347,968
    Charge for year: 7,587
    On disposals: 0
    Other adjustments 0
    At 31st August 2014: 355,555
    Net book value
    At 31st August 2014: 28,546
    At 31st August 2013: 34,372

SARABEC LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st August 2014

  • 5. Debtors

    2014
    £     		2013
    £
    Trade debtors: 159,946 188,929
    Other debtors: 26,304 17,270
    Total: 186,250 206,199

SARABEC LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st August 2014

  • 6. Creditors: amounts falling due within one year

    2014
    £     		2013
    £
    Bank loans and overdrafts: 84,018 102,791
    Amounts due under finance leases and hire purchase contracts: 2,492 2,597
    Trade creditors: 180,490 93,913
    Taxation and social security: 9,615 26,766
    Other creditors: 34,950 16,782
    Total: 311,565 242,849

SARABEC LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st August 2014

  • 7. Creditors: amounts falling due after more than one year

    2014
    £     		2013
    £
    Amounts due under finance leases and hire purchase contracts: 7,785 9,954
    Other creditors: 3,890 0
    Total: 11,675 9,954

SARABEC LIMITED

Notes to the Abbreviated Accounts
for the Period Ended 31st August 2014

  • 8. Called up share capital

    Allotted, called up and paid

    Previous period 2013
    Class Number of shares Nominal value per share Total
    Ordinary shares: 3,000 1.00
    1.00
    		3,000
    Preference shares: 400,000 1.00
    1.00
    		400,000
    Total share capital: 403,000
    Current period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 3,000 1.00
    1.00
    		3,000
    Preference shares: 400,000 1.00
    1.00
    		400,000
    Total share capital: 403,000