Abbreviated Company Accounts - THE SUTCLIFFE TOOL COMPANY LIMITED

Abbreviated Company Accounts - THE SUTCLIFFE TOOL COMPANY LIMITED

THE SUTCLIFFE TOOL COMPANY LIMITED - Company Information

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Registered Number 02988508

THE SUTCLIFFE TOOL COMPANY LIMITED

Abbreviated Accounts

30 April 2016

THE SUTCLIFFE TOOL COMPANY LIMITED Registered Number 02988508

Abbreviated Balance Sheet as at 30 April 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 267,082 255,058
267,082 255,058
Current assets
Stocks 83,732 82,736
Debtors 487,490 530,427
Cash at bank and in hand 416,660 311,621
987,882 924,784
Creditors: amounts falling due within one year 3 (219,415) (110,439)
Net current assets (liabilities) 768,467 814,345
Total assets less current liabilities 1,035,549 1,069,403
Creditors: amounts falling due after more than one year 3 (54,462) (70,580)
Provisions for liabilities (12,078) (8,478)
Total net assets (liabilities) 969,009 990,345
Capital and reserves
Called up share capital 20,000 20,000
Profit and loss account 949,009 970,345
Shareholders' funds 969,009 990,345
  • For the year ending 30 April 2016 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 5 January 2017

And signed on their behalf by:
M V Crabtree, Director

THE SUTCLIFFE TOOL COMPANY LIMITED Registered Number 02988508

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover consists of the invoiced value of goods sold and work done by the company, net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the costs of fixed assets on a straight line basis over their estimated useful lives.

Other accounting policies
Stocks are stated at the lower of cost and estimated realisable value. Cost is calculated on a first in first out basis.

Provision has been made for taxation deferred as a result of timing differences between the incidence of income and expenditure for accounts and taxation purposes, using the liability method.

2Tangible fixed assets
£
Cost
At 1 May 2015 496,005
Additions 37,533
Disposals -
Revaluations -
Transfers -
At 30 April 2016 533,538
Depreciation
At 1 May 2015 240,947
Charge for the year 25,509
On disposals -
At 30 April 2016 266,456
Net book values
At 30 April 2016 267,082
At 30 April 2015 255,058

All of the assets included above are owned by the company, and none are held on finance leases or hire purchase contracts.

3Creditors
2016
£		 2015
£
Secured Debts 68,962 83,080