Company Registration No. 09053902 (England and Wales)
F.G. STACEY ENGINEERING LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
F.G. STACEY ENGINEERING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
F.G. STACEY ENGINEERING LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
31,270
19,866
Current assets
Stocks
73,518
51,553
Debtors
199,274
258,319
Cash at bank and in hand
58,659
53,632
331,451
363,504
Creditors: amounts falling due within one year
(257,944)
(305,991)
Net current assets
73,507
57,513
Total assets less current liabilities
104,777
77,379
Provisions for liabilities
(4,193)
(1,870)
100,584
75,509
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
100,484
75,409
Shareholders' funds
100,584
75,509
For the financial year ended 30 June 2016 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 9 March 2017
Mr T F Stacey
Mrs S J Stacey
Director
Director
Company Registration No. 09053902
F.G. STACEY ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
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 January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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:
Plant and machinery
15% on the written down value
Office equipment
15% on the written down value
Motor vehicles
20% on the written down value
1.4
Stock
Stock is valued at the lower of cost and net realisable value.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015
23,900
Additions
18,133
Disposals
(924)
At 30 June 2016
41,109
Depreciation
At 1 July 2015
4,034
On disposals
(138)
Charge for the year
5,943
At 30 June 2016
9,839
Net book value
At 30 June 2016
31,270
At 30 June 2015
19,866
F.G. STACEY ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
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