For the year ended 31 October 2016
Unaudited Abbreviated Financial Statements
England and Wales
Registered Number: 05259237
A & M Metals Limited
For the year ended 31 October 2016
1
Balance Sheet
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Notes to the Abbreviated Financial Statements
Notes to the Abbreviated Financial Statements |
A & M Metals Limited
For the year ended 31 October 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
The company operates defined contribution pension schemes for the benefit of its directors and employees. Contributions |
payable are charged to the profit and loss account in the period in which they are payable. |
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the |
shareholders prior to the balance sheet date. |
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated |
expected useful economic life of the goodwill of 20 years. |
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Motor Vehicles
Fixtures and Fittings
Stocks 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 costs and an appropriate proportion of fixed and variable overheads. |
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Notes to the Abbreviated Financial Statements |
A & M Metals Limited
For the year ended 31 October 2016
2 Intangible fixed assets |
400,000
400,000
220,000
20,000
Charge for year
240,000
160,000
180,000
421,976
148,060
(194,230)
375,806
206,665
(56,561)
35,030
Charge for year
185,134
190,672
215,311
Allotted called up and fully paid |
2016
2015
2 Ordinary shares of £1.00 each |
2
2
2
2
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