| A E SUTTON LTD |
| Registered number: |
00712221 |
| Abbreviated Balance Sheet |
| as at 31 March 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,757,242 |
|
|
1,797,770 |
|
| Current assets |
| Stocks |
|
|
196,889 |
|
|
227,165 |
| Debtors |
|
|
1,014,159 |
|
|
963,517 |
| Cash at bank and in hand |
|
|
189,340 |
|
|
213,658 |
|
|
|
1,400,388 |
|
|
1,404,340 |
|
| Creditors: amounts falling due within one year |
|
|
(976,477) |
|
|
(1,151,590) |
|
| Net current assets |
|
|
|
423,911 |
|
|
252,750 |
|
| Total assets less current liabilities |
|
|
|
2,181,153 |
|
|
2,050,520 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(203,067) |
|
|
(308,296) |
|
| Provisions for liabilities |
|
|
|
(83,500) |
|
|
(81,715) |
|
|
| Net assets |
|
|
|
1,894,586 |
|
|
1,660,509 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
5 |
|
|
42,972 |
|
|
42,972 |
| Profit and loss account |
|
|
|
1,851,614 |
|
|
1,617,537 |
|
| Shareholders' funds |
|
|
|
1,894,586 |
|
|
1,660,509 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| S J SUTTON |
| Director |
| Approved by the board on 22 December 2015 |
|
| A E SUTTON LTD |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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 |
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
General & specialist plant & Equipment |
10% per annum on cost |
|
Very short life sundry plant & equipment |
20% per annum on cost |
|
Computer equipment |
25% per annum on cost |
|
Fixtures & fittings |
5% per annum on cost |
|
Cars |
35% reducing balance |
|
Commercial vehicles |
25% reducing balance |
|
Factory building |
2% per annum on cost |
|
Land |
Not depreciated |
|
|
Stocks |
|
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete, deteriorated and slow moving stocks. Cost includes all direct costs and an appropriate proportion of the fixed and variable overheads. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Leasing and hire purchase commitments |
|
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant rate of charge on the net obligation outstanding in each period. |
|
|
Pensions |
|
The company operates two defined contribution pension schemes and one defined benefit pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the schemes. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
Additions |
53,467 |
|
At 31 March 2015 |
53,467 |
|
|
|
|
|
|
|
|
Amortisation |
|
Written-off during the year |
53,467 |
|
At 31 March 2015 |
53,467 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
- |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2014 |
2,808,617 |
|
Additions |
91,905 |
|
Disposals |
(40,549) |
|
At 31 March 2015 |
2,859,973 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2014 |
1,010,847 |
|
Charge for the year |
128,678 |
|
On disposals |
(36,794) |
|
At 31 March 2015 |
1,102,731 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
1,757,242 |
|
At 31 March 2014 |
1,797,770 |
|
|
|
|
|
|
|
|
| 4 |
Loans |
2015 |
|
2014 |
| £ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
- |
|
32,047 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
42,972 |
|
42,972 |
|
42,972 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
S J Sutton |
|
Short Term Current Account |
4,157 |
|
62,515 |
|
(30,000) |
|
36,672 |
|
|
|
4,157 |
|
62,515 |
|
(30,000) |
|
36,672 |
|
|
|
|
|
|
|
|
|