Shilcroft Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 01337007

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2016

FOR

SHILCROFT LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J H Shah

P K M Shah

SECRETARY:

P K M Shah

REGISTERED OFFICE:

32 High Road,

East Finchley,

London

N2 9PJ

REGISTERED NUMBER:

01337007

ACCOUNTANTS:

Braham Noble Denholm & Co

York House

Empire Way

Wembley

Middlesex

HA9 0PA

FIXED ASSETS

Intangible assets

2

1

Tangible assets

3

160,519

198,808

Investments

4

1

160,521

198,810

CURRENT ASSETS

Stocks

216,537

217,739

Debtors

129,750

126,958

Investments

14,548

14,048

Cash at bank

196,471

140,678

557,306

499,423

CREDITORS

Amounts falling due within one year

246,574

226,649

NET CURRENT ASSETS

310,732

272,774

TOTAL ASSETS LESS CURRENT
LIABILITIES

471,253

471,584

CAPITAL AND RESERVES

Called up share capital

5

1,000

Profit and loss account

470,253

470,584

SHAREHOLDERS' FUNDS

471,253

471,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2016 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 18 November 2016 and were signed on its behalf
by:

J H Shah - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill represents the difference between the fair value of the consideration paid on acquistion of a business

and the fair value of its seperable net assets at the date of acquistion. Goodwill is amortised over its estimated

useful life of 20 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

20% on cost and not provided

Plant and machinery etc

-

25% on cost and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 28 February 2016

44,753

AMORTISATION

At 1 March 2015

and 28 February 2016

44,752

NET BOOK VALUE

At 28 February 2016

1

At 28 February 2015

1

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

348,103

Additions

319

Disposals

(338

)

At 28 February 2016

348,084

DEPRECIATION

At 1 March 2015

149,295

Charge for year

38,608

Eliminated on disposal

(338

)

At 28 February 2016

187,565

NET BOOK VALUE

At 28 February 2016

160,519

At 28 February 2015

198,808

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 March 2015

and 28 February 2016

1

NET BOOK VALUE

At 28 February 2016

1

At 28 February 2015

1

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary shares

£1

1,000