Alan Snow Ag Eng (Launceston) Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05907476 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2015

for

Alan Snow Agricultural Engineers

(Launceston) Ltd

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

309

411

Tangible assets

3

146,428

124,571

146,737

124,982

CURRENT ASSETS

Stocks

1,781,763

1,505,168

Debtors

868,465

548,073

Cash in hand

347

364

2,650,575

2,053,605

CREDITORS

Amounts falling due within one year

4

2,427,384

1,780,882

NET CURRENT ASSETS

223,191

272,723

TOTAL ASSETS LESS CURRENT LIABILITIES

369,928

397,705

CREDITORS

Amounts falling due after more than one year

4

(92,807

)

(128,290

)

PROVISIONS FOR LIABILITIES

(14,936

)

(10,425

)

NET ASSETS

262,185

258,990

CAPITAL AND RESERVES

Called up share capital

5

400

400

Profit and loss account

261,785

258,590

SHAREHOLDERS' FUNDS

262,185

258,990

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 4 March 2016 and were signed on its behalf by:

Mr F W Rundle - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work

carried out in respect of services provided to customers.

Computer software

Computer software representing the excess of the purchase price over the fair value of the net assets of

undertakings acquired is capitalised in the balance sheet and is amortised by the reducing balance method at a

rate of 25%.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Straight line over 10 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Full provision is made for deferred tax liabilities arising from timing differences between the recognition of items

in the accounts and their recognition for tax purposes. Deferred tax balances are not discounted.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

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.

Going concern

Having regard to the company's anticipated future revenues and costs including repayment of debt where

appropriate, together with the expected availability of working capital, the directors consider that it is

appropriate to prepare the financial statements on the going concern basis.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

and 30 September 2015

3,345

AMORTISATION

At 1 October 2014

2,934

Amortisation for year

102

At 30 September 2015

3,036

NET BOOK VALUE

At 30 September 2015

309

At 30 September 2014

411

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

247,864

Additions

56,576

At 30 September 2015

304,440

DEPRECIATION

At 1 October 2014

123,293

Charge for year

34,719

At 30 September 2015

158,012

NET BOOK VALUE

At 30 September 2015

146,428

At 30 September 2014

124,571

4.

CREDITORS

Creditors include an amount of £ 325,337 (2014 - £ 289,083 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

6,467

12,726

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

400

Ordinary

£1

400

400