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03019146
2014-03-31
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2013-04-01
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uk-gaap:PlantMachinery
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iso4217:GBP
| Saber Diamond Products Ltd |
For the year ended 31 March 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03019146
2
Saber Diamond Products Ltd
For the year ended 31 March 2014
1
Balance Sheet
2 to 4
Notes to the Abbreviated Financial Statements
3
| Abbreviated Balance Sheet |
Saber Diamond Products Ltd
2014
2013
3
17,165
19,594
16,000
16,000
4
33,165
35,594
158,864
156,200
162,496
197,590
3,032
30
356,822
321,390
| Creditors: amounts falling due within one year |
(159,415)
(191,050)
161,975
165,772
Net current assets
| Total assets less current liabilities |
198,937
197,569
198,937
Net assets
197,569
289
5
400
47,255
64,800
-
111
151,282
132,369
198,937
197,569
Shareholders funds
| For the year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, |
| 2) 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. |
| Date approved by the board: 10 July 2014 |
| Signed on behalf of the board of directors |
1 of 4
4
| Notes to the Abbreviated Financial Statements |
Saber Diamond Products Ltd
For the year ended 31 March 2014
| The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities. |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Finance lease and hire purchase charges |
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
| by the shareholders prior to the balance sheet date. |
| Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
| Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the |
| estimated expected useful economic life of the goodwill of 10 years. |
2 of 4
5
| Notes to the Abbreviated Financial Statements |
Saber Diamond Products Ltd
For the year ended 31 March 2014
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Computer Equipment
Motor Vehicles
Fixtures and Fittings
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
| rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
| and depreciated over the shorter of the lease term and their estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
| Stocks 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 costs and an appropriate proportion of fixed and variable overheads. |
| The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the |
| factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the |
| proceeds received from the factor. |
| 2 Intangible fixed assets |
(53,009)
(53,009)
(53,009)
(53,009)
-
-
3 of 4
6
| Notes to the Abbreviated Financial Statements |
Saber Diamond Products Ltd
For the year ended 31 March 2014
66,075
3,293
69,368
46,481
5,722
Charge for year
52,203
17,165
19,594
| 4 Fixed asset investments |
16,000
16,000
| Allotted called up and fully paid |
2014
2013
| 289 Ordinary shares of £1.00 each |
400
289
289
400
4 of 4
