Alfreton Fabrications Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 05379647 (England and Wales)

ALFRETON FABRICATIONS LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTOR:

Mr S Rainford

SECRETARY:

Mrs S Rainford

REGISTERED OFFICE:

Unit 5b

Wimsey Way

Alfreton

Derbyshire

DE55 4LS

REGISTERED NUMBER:

05379647 (England and Wales)

ACCOUNTANTS:

McGregors Corporate

Chartered Accountants

i2 Mansfield Suite 0.3

Hamilton Court

Oakham Business Park

Mansfield

Nottinghamshire

NG18 5FB

FIXED ASSETS

Tangible assets

2

460,416

382,816

CURRENT ASSETS

Stocks

42,606

38,390

Debtors

389,942

443,381

Cash at bank and in hand

437,415

194,142

869,963

675,913

CREDITORS

Amounts falling due within one year

3

575,251

439,976

NET CURRENT ASSETS

294,712

235,937

TOTAL ASSETS LESS CURRENT
LIABILITIES

755,128

618,753

CREDITORS

Amounts falling due after more than one
year

3

(102,636

)

(166,888

)

PROVISIONS FOR LIABILITIES

(66,916

)

(45,145

)

NET ASSETS

585,576

406,720

CAPITAL AND RESERVES

Called up share capital

4

50,000

Profit and loss account

535,576

356,720

SHAREHOLDERS' FUNDS

585,576

406,720

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 12 May 2017 and were signed by:

Mr S Rainford - 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.

Revenue is recognised on dispatch of goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold property

-

20% on cost

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Office equipment

-

25% on cost

Stocks

Stocks and work in progress 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 expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Full provision is made for deferred tax assets and liabilities arising from all timing difference between

the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will

be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time

the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted,

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Operating leases

Rentals paid under operating leases are charged to the profit and loss account on a straight-line basis

over the period of the lease.

Government grants

Government grants received are to be released to the profit and loss account over the estimated life of

the fixed assets they relate to.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

725,096

Additions

245,637

At 31 August 2016

970,733

DEPRECIATION

At 1 September 2015

342,280

Charge for year

168,037

At 31 August 2016

510,317

NET BOOK VALUE

At 31 August 2016

460,416

At 31 August 2015

382,816

3.

CREDITORS

Creditors include an amount of £ 222,370 (2015 - £ 245,545 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

25,000

Ordinary A

£1

25,000

Ordinary B

£1

25,000

50,000