Union Street Tin Company FILLETED ACCOUNTS COVER
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Company No. 09323520
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Union Street Tin Company DIRECTORS REPORT REGISTRAR
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The Directors present their report and the accounts for the year ended 31 December 2016.
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Principal activities
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Directors
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The Directors who served at any time during the year were as follows:
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T.D. Luper
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J.B. Powers
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Signed on behalf of the board
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J.B. Powers
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Director
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19 September 2017
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Union Street Tin Company BALANCE SHEET REGISTRAR
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at
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Company No.
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Notes
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2016
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2015
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£
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£
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Current assets
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Stocks
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2
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Debtors
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3
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Cash at bank and in hand
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Creditors: Amount falling due within one year
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4
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(
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(
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Net current assets
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Total assets less current liabilities
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Creditors: Amounts falling due after more than one year
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5
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(
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(
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Net liabilities
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(
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(
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Capital and reserves
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Called up share capital
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Profit and loss account
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6
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(
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(
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Total equity
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(
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(
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As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
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Approved by the board on 19 September 2017
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And signed on its behalf by:
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J.B. Powers
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Director
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19 September 2017
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Union Street Tin Company NOTES TO THE ACCOUNTS REGISTRAR
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for the year ended 31 December 2016
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1
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Accounting policies
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Basis of preparation
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Turnover
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Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. |
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Stocks
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When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs. |
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Foreign currencies
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2
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Stocks
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2016
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2015
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£
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£
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Finished goods
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3
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Debtors
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2016
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2015
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£
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£
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Trade debtors
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Other debtors
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Prepayments and accrued income
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4
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Creditors:
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amounts falling due within one year
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2016
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2015
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£
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£
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Trade creditors
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Other taxes and social security
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(
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(
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Loans from directors
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5
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Creditors:
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amounts falling due after more than one year
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2016
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2015
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£
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£
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Other creditors
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6
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Reserves
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7
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Related party disclosures
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2016
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2015
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Transactions with related parties
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£
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£
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Name of related party
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Description of relationship between the parties
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Director
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Description of transaction and general amounts involved
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Loan from director
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Amount due from/(to) the related party
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(14,907)
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(2,613)
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Provision for doubtful debts due from the related party
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-
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-
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Amounts written off in the period in respect of debts from/(to) the related party
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-
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-
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Controlling parties
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Immediate controlling parties
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Ultimate controlling party
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Union Street Tin Company LLC controls the company by virtue of being the sole shareholder.
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8
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Additional information
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Its registered number is:
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Its registered office is:
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