Abbreviated Company Accounts - SOLSTICE ENTERPRISES LIMITED

Abbreviated Company Accounts - SOLSTICE ENTERPRISES LIMITED

SOLSTICE ENTERPRISES LIMITED - Company Information

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Registered Number 05228322

SOLSTICE ENTERPRISES LIMITED

Abbreviated Accounts

30 November 2016

SOLSTICE ENTERPRISES LIMITED Registered Number 05228322

Abbreviated Balance Sheet as at 30 November 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 228,918 236,285
228,918 236,285
Current assets
Stocks 39,175 38,220
Debtors 286,898 173,126
Cash at bank and in hand 169,941 69,351
496,014 280,697
Creditors: amounts falling due within one year 3 (254,207) (175,460)
Net current assets (liabilities) 241,807 105,237
Total assets less current liabilities 470,725 341,522
Creditors: amounts falling due after more than one year 3 (58,315) (90,539)
Total net assets (liabilities) 412,410 250,983
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 412,310 250,883
Shareholders' funds 412,410 250,983
  • For the year ending 30 November 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 28 November 2017

And signed on their behalf by:
Dr R K Amin, Director

SOLSTICE ENTERPRISES LIMITED Registered Number 05228322

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

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year
and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and buildings - Straight line over fifty years
Plant and machinery - 33.33% straight line
Fixtures, fittings and equipment - 10% straight line

Other accounting policies
Pensions
The pension costs charged in the financial statements represent the contribution payable by the
company during the year.

Prior year adjustments
It came to light during the period that, due to the actions of an employee, turnover, certain expenses and VAT had been understated. Appropriate adjustments had been made in the accounts to 30 November 2015 and 2016. The adjustments relating to the year ended 30 November 2014 and prior have been treated as prior year adjustments in these accounts. The effect of the prior year adjustments has been to increase retained profits at 30 November 2014 by £60,464.

Transactions with directors
The company paid to the directors £16,200 (2012:£16,200) in respect of rent of property used in the
business.

2Tangible fixed assets
£
Cost
At 29 November 2015 319,367
Additions -
Disposals -
Revaluations -
Transfers -
At 30 November 2016 319,367
Depreciation
At 29 November 2015 83,082
Charge for the year 7,367
On disposals -
At 30 November 2016 90,449
Net book values
At 30 November 2016 228,918
At 28 November 2015 236,285
3Creditors
2016
£		 2015
£
Secured Debts 88,066 117,139
4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
100 Ordinary shares of £1 each 100 100