REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2016 |
for |
Group Four Glassfibre Co. Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2016 |
for |
Group Four Glassfibre Co. Limited |
Group Four Glassfibre Co. Limited (Registered number: 01036836) |
Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Group Four Glassfibre Co. Limited |
Company Information |
for the Year Ended 31 December 2016 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
South View |
Lower Wall Road |
West Hythe |
Kent |
CT21 4NW |
Group Four Glassfibre Co. Limited (Registered number: 01036836) |
Statement of Financial Position |
31 December 2016 |
31/12/16 | 31/12/15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Group Four Glassfibre Co. Limited (Registered number: 01036836) |
Statement of Financial Position - continued |
31 December 2016 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
Group Four Glassfibre Co. Limited (Registered number: 01036836) |
Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
1. | STATUTORY INFORMATION |
Group Four Glassfibre Co. Limited is a |
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of glassfibre goods and services, excluding value added tax, |
except in respect of service contracts where turnover is recognised when the company obtains the |
right to consideration. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
Patents and licences |
Amortisation is provided in order to write off the cost less estimated residual value of each asset over |
its estimated useful life. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been |
enacted or substantively enacted by the statement of financial position date. |
Group Four Glassfibre Co. Limited (Registered number: 01036836) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2016 |
and 31 December 2016 |
AMORTISATION |
At 1 January 2016 |
Charge for year |
At 31 December 2016 |
NET BOOK VALUE |
At 31 December 2016 |
At 31 December 2015 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2016 |
Additions |
At 31 December 2016 |
DEPRECIATION |
At 1 January 2016 |
Charge for year |
At 31 December 2016 |
NET BOOK VALUE |
At 31 December 2016 |
At 31 December 2015 |
Group Four Glassfibre Co. Limited (Registered number: 01036836) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/16 | 31/12/15 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/16 | 31/12/15 |
£ | £ |
Trade creditors |
Taxation |
VAT | 47,825 | 55,212 |
Other creditors |
Directors' loan accounts | 43,543 | 110 |
Accrued expenses |
8. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £96,000 were paid to the director . |
Dividends paid during the year are in respect of shares in joint ownership. The above amount |
represents the total dividend amount paid in the year. |
The premises occupied by the company are owned by the director, Mr T D Cox and his spouse. The |
company paid rent, at market value, of £61,800 (2015: £61,800) during the year in respect of these |
premises. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr T Cox and Mrs M Cox by virtue of their joint shareholding. |