South Humberside Suspended Ceilings Ltd - Period Ending 2013-12-31

Registration number: 01302497

South Humberside Suspended Ceilings Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

A P Robinson LLP
Chartered Accountants
107 Cleethorpe Road
Grimsby
N E Lincolnshire
DN31 3ER

South Humberside Suspended Ceilings Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 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 Board of Directors on the Preparation of the Unaudited Statutory Accounts of
  South Humberside Suspended Ceilings Ltd
  for the Year Ended 31 December 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of South Humberside Suspended Ceilings Ltd for the year ended 31 December 2013 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 South Humberside Suspended Ceilings Ltd, 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 South Humberside Suspended Ceilings Ltd 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 South Humberside Suspended Ceilings Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that South Humberside Suspended Ceilings Ltd 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 South Humberside Suspended Ceilings Ltd. You consider that South Humberside Suspended Ceilings Ltd 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 South Humberside Suspended Ceilings Ltd. 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.

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

A P Robinson LLP
Chartered Accountants
107 Cleethorpe Road
Grimsby
N E Lincolnshire
DN31 3ER

26 March 2014

Page 1

South Humberside Suspended Ceilings Ltd
(Registration number: 01302497)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets					198,367			209,255
Current assets
Stocks					5,502			5,692
Debtors					1,799,280			1,352,574
Cash at bank and in hand					13,602			28,179
					1,818,384			1,386,445
Creditors: Amounts falling due within one year					(1,106,333)			(884,958)
Net current assets					712,051			501,487
Total assets less current liabilities					910,418			710,742
Creditors: Amounts falling due after more than one year					(17,831)			(27,409)
Net assets					892,587			683,333
Capital and reserves
Called up share capital		3			1,005			1,000
Profit and loss account					891,582			682,333
Shareholders' funds					892,587			683,333

For the year ending 31 December 2013 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 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.

Approved by the Board on 26 March 2014 and signed on its behalf by:

.........................................
Mr A Burton
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

South Humberside Suspended Ceilings Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... 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.

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 & Machinery	15% reducing balance
Motor Vehicles	25% straight line
Land & Buildings	2% 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.

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.

Page 3

South Humberside Suspended Ceilings Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		366,711			366,711
Additions		11,512			11,512
Disposals		(12,894)			(12,894)
At 31 December 2013		365,329			365,329
Depreciation
At 1 January 2013		157,456			157,456
Charge for the year		16,758			16,758
Eliminated on disposals		(7,252)			(7,252)
At 31 December 2013		166,962			166,962
Net book value
At 31 December 2013		198,367			198,367
At 31 December 2012		209,255			209,255

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000
A-E Shares at £1 each of £1 (2012 - £0.00) each		5			5			-			-
		1,005			1,005			1,000			1,000

Page 4

South Humberside Suspended Ceilings Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

New shares allotted

During the year 1 A Share having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.

During the year 1 B Share having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.

During the year 1 C Share having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.

During the year 1 D Share having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.

During the year 1 E Share having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.

Page 5