Stock Sweepers Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06217242 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Stock Sweepers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J G Stock

M Stock

REGISTERED OFFICE:

Building 13

Vantage Point

Business Village

Mitcheldean

Gloucestershire

GL17 0DD

REGISTERED NUMBER:

06217242 (England and Wales)

ACCOUNTANTS:

Norman Sainsbury Accountants Limited

Wyvols Court

Basingstoke Road

Swallowfield

Reading

Berkshire

RG7 1WY

FIXED ASSETS

Tangible assets

4

331,672

216,709

CURRENT ASSETS

Stocks

410,005

400,462

Debtors

5

673,301

672,591

Cash at bank and in hand

182,475

168,121

1,265,781

1,241,174

CREDITORS

Amounts falling due within one year

6

1,006,726

954,784

NET CURRENT ASSETS

259,055

286,390

TOTAL ASSETS LESS CURRENT LIABILITIES

590,727

503,099

CREDITORS

Amounts falling due after more than one year

7

(32,137

)

(45,457

)

PROVISIONS FOR LIABILITIES

(57,191

)

(32,192

)

NET ASSETS

501,399

425,450

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

-

83,186

Retained earnings

501,299

342,164

SHAREHOLDERS' FUNDS

501,399

425,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 5 December 2017 and were signed on its behalf by:

J G Stock - Director

1.	STATUTORY INFORMATION

Stock Sweepers Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2016 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

378,270

Additions

177,110

At 31 March 2017

555,380

DEPRECIATION

At 1 April 2016

161,561

Charge for year

62,147

At 31 March 2017

223,708

NET BOOK VALUE

At 31 March 2017

331,672

At 31 March 2016

216,709

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2016

93,224

Additions

13,120

At 31 March 2017

106,344

DEPRECIATION

At 1 April 2016

21,111

Charge for year

19,553

At 31 March 2017

40,664

NET BOOK VALUE

At 31 March 2017

65,680

At 31 March 2016

72,113

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

412,617

178,699

Amounts owed by associates

151,426

-

Other debtors

109,258

493,892

673,301

672,591

The gross trade debtors under the debt factoring arrangement amount to £412,617 at 31 March 2017 (2016:

178,699). The amounts received under these debt factoring arrangements are included in other creditors falling

due within one year.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

39,230

37,294

Trade creditors

760,238

803,862

Taxation and social security

36,072

47,443

Other creditors

171,186

66,185

1,006,726

954,784

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

32,137

45,457

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

31.3.17

31.3.16

£

£

J G Stock

Balance outstanding at start of year

7,325

(136

)

Amounts advanced

-

17,461

Amounts repaid

(107,319

)

(10,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(99,994

)

7,325

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 (2016 - £11,765) were paid to the directors .

The ultimate controlling party is J G Stock.

10.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS102. The last financial statements under

UK GAAP were for the year ended 31 March 2016. The date of transition of FRS102 was 1 April 2015. The

policies applied under the entity's previous framework are not materially different to FRS102 and have not

impacted equity or profit and loss.