Registered number
00383301
LANCASHIRE SAW COMPANY LIMITED
Abbreviated Accounts
31 December 2014
LANCASHIRE SAW COMPANY LIMITED
Registered number: 00383301
Abbreviated Balance Sheet
as at 31 December 2014
Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 861,666 887,861
Current assets
Stocks 291,720 307,871
Debtors 551,646 508,275
Cash at bank and in hand 324,652 241,124
1,168,018 1,057,270
Creditors: amounts falling due within one year (387,799) (405,573)
Net current assets 780,219 651,697
Total assets less current liabilities 1,641,885 1,539,558
Provisions for liabilities (76,565) (72,555)
Net assets 1,565,320 1,467,003
Capital and reserves
Called up share capital 3 30,000 30,000
Revaluation reserve 181,497 181,497
Profit and loss account 1,353,823 1,255,506
Shareholders' funds 1,565,320 1,467,003
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 Bentley
Director
Approved by the board on 27 February 2015
LANCASHIRE SAW COMPANY LIMITED
Notes to the Abbreviated Accounts
for the year ended 31 December 2014
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 represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% on reducing balance
Motor vehicles 25% on reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
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.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Tangible fixed assets £
Cost
At 1 January 2014 1,699,987
Additions 77,461
At 31 December 2014 1,777,448
Depreciation
At 1 January 2014 812,126
Charge for the year 103,656
At 31 December 2014 915,782
Net book value
At 31 December 2014 861,666
At 31 December 2013 887,861
3 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 30,000 30,000 30,000
LANCASHIRE SAW COMPANY LIMITED 00383301 false true 2014-01-01 2014-12-31 2014-12-31 S Bentley 00383301 uk-bus:OrdinaryShareClass1 2013-12-31 00383301 2014-01-01 2014-12-31 00383301 uk-bus:Director40 2014-01-01 2014-12-31 00383301 uk-gaap:PlantMachinery 2014-01-01 2014-12-31 00383301 uk-gaap:MotorVehicles 2014-01-01 2014-12-31 00383301 uk-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 00383301 2014-12-31 00383301 uk-bus:OrdinaryShareClass1 2014-12-31 00383301 2013-12-31 iso4217:GBP xbrli:shares

Options

Monitor

  • Receive an alert email on changes to financial status
  • Early indications of liquidity problems
  • Warns when company reporting is overdue
  • Free service, no spam emails
Monitor Now

Please Help Us!

Was this document useful to you? Please Like our page. The more Likes we get, the more documents we can supply you free. Thanks.