SOLENT_STEEL_ENGINEERING_ - Accounts

SOLENT STEEL ENGINEERING LIMITED - Company Information

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Company Registration No. 01290847 (England and Wales)

SOLENT STEEL ENGINEERING LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

SOLENT STEEL ENGINEERING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SOLENT STEEL ENGINEERING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

15,938

18,618

Investments

3,644

19,582

22,262

Current assets

Debtors

190,000

Investments

8,030

Cash at bank and in hand

1,218,358

1,081,190

1,226,388

1,279,220

Creditors: amounts falling due within one year

(774,462)

(796,915)

Net current assets

451,926

482,305

Total assets less current liabilities

471,508

504,567

Capital and reserves

Called up share capital

30,786

Profit and loss account

440,722

473,781

Shareholders' funds

471,508

504,567

For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 14 June 2016

J D Monks

Director

Company Registration No. 01290847

SOLENT STEEL ENGINEERING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective June 2002).

1.2

Compliance with accounting standards

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 248 of the Companies Act 1985 not to prepare group accounts.

1.3

Turnover

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

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold property

over a period of 18 years

Plant and machinery

15% straight line basis

Fixtures, fittings and equipment

15% straight line basis

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Current asset investments are stated at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 November 2014 & at 31 October 2015

67,802

3,644

71,446

Depreciation

At 1 November 2014

49,184

Charge for the year

2,680

At 31 October 2015

51,864

Net book value

At 31 October 2015

15,938

3,644

19,582

At 31 October 2014

18,618

3,644

22,262

SOLENT STEEL ENGINEERING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

30,786 Ordinary of £1 each

30,786