Southern Window & General Cleaning Company Limited - Period Ending 2015-07-31

Registration number: 04043154

Southern Window & General Cleaning Company Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2015
 

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Southern Window & General Cleaning Company Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Southern Window & General Cleaning Company Limited
for the Year Ended 31 July 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Southern Window & General Cleaning Company Limited for the year ended 31 July 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Southern Window & General Cleaning Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Southern Window & General Cleaning Company Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southern Window & General Cleaning Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Southern Window & General Cleaning Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Southern Window & General Cleaning Company Limited. You consider that Southern Window & General Cleaning Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Southern Window & General Cleaning Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

26 April 2016

Page 1

Southern Window & General Cleaning Company Limited
(Registration number: 04043154)
Abbreviated Balance Sheet at 31 July 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					25,213			31,516
Tangible fixed assets					17,134			20,871
					42,347			52,387
Current assets
Stocks					1,000			1,000
Debtors					184,621			221,562
Cash at bank and in hand					326,895			191,466
					512,516			414,028
Creditors: Amounts falling due within one year					(185,538)			(154,612)
Net current assets					326,978			259,416
Total assets less current liabilities					369,325			311,803
Provisions for liabilities					(3,226)			(3,929)
Net assets					366,099			307,874
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					366,097			307,872
Shareholders' funds					366,099			307,874

For the year ending 31 July 2015 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 director acknowledges his 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 .

Approved by the director on 22 April 2016

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Southern Window & General Cleaning Company Limited
(Registration number: 04043154)
Abbreviated Balance Sheet at 31 July 2015
......... continued

.........................................
Mr Martin David Galbraith
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Southern Window & General Cleaning Company Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... 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.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Purchased goodwill is not amortised. In the opinion of the director this departure from Companies Act requirements is necessary for the accounts to show a true and fair view.

Asset class	Amortisation method and rate
Goodwill	5 years straight line

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 machinery	25% reducing balance
Fixtures and fittings	25% reducing balance
Motor vehicles	25% reducing balance
Office equipment	33% straight line

Stock

Stock is 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.

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.

Page 4

Southern Window & General Cleaning Company Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

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.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2014		31,516			59,918			91,434
Additions		-			1,974			1,974
At 31 July 2015		31,516			61,892			93,408
Depreciation
At 1 August 2014		-			39,047			39,047
Charge for the year		6,303			5,711			12,014
At 31 July 2015		6,303			44,758			51,061
Net book value
At 31 July 2015		25,213			17,134			42,347
At 31 July 2014		31,516			20,871			52,387

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 5