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Abbreviated Unaudited Accounts |
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for the Year Ended 31 July 2016 |
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for |
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Possilpark Shotblasting Company Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 July 2016 |
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for |
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Possilpark Shotblasting Company Limited |
Possilpark Shotblasting Company Limited (Registered number: SC045833) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 July 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Possilpark Shotblasting Company Limited |
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Company Information |
for the Year Ended 31 July 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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3PE |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Possilpark Shotblasting Company Limited (Registered number: SC045833) |
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Abbreviated Balance Sheet |
31 July 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
Possilpark Shotblasting Company Limited (Registered number: SC045833) |
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Abbreviated Balance Sheet - continued |
31 July 2016 |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Possilpark Shotblasting Company Limited (Registered number: SC045833) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 July 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced value of goods and services provided, excluding value added tax. |
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In respect of longer term contracts, turnover is recognised where the outcome of the contract can be |
reasonably foreseen. |
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Tangible fixed assets |
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Long leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due |
allowance for obsolete and slow moving items. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Deferred tax |
Deferred tax is provided at the average rates that are expected to apply when the timing differences |
reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences |
arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred |
tax assets and liabilities are not discounted. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to the profit and loss account in the period to which they |
relate. |
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Work in progress |
Work in progress is recognised on incomplete contracts at direct cost less applications for payment. |
Provision is made for any foreseeable losses where appropriate. No element of profit is included in |
the valuation of work in progress |
Possilpark Shotblasting Company Limited (Registered number: SC045833) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 July 2016 |
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2. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | Plant and | and | Computer |
leasehold | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 August 2015 |
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Additions |
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At 31 July 2016 |
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DEPRECIATION |
At 1 August 2015 |
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Charge for year |
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At 31 July 2016 |
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NET BOOK VALUE |
At 31 July 2016 |
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At 31 July 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At the year end, the company owed the directors A C C Lapsley £661 (2015- £2,687) and A J G M C |
Lapsley £1,438 (2015- £295). |