back to STEEL BROTHERS AND COMPANY LIMITED detail STEEL BROTHERS AND COMPANY LIMITED - Filleted accounts
Registered number
00032668
STEEL BROTHERS AND COMPANY LIMITED
Unaudited Filleted Accounts
31 December 2016
API Partnership Ltd T/A Chandler & Georges
Chartered Accountants
75, Westow Hill
SE19 1TX
Tel: 0208 761 2213
www.cgca.co.uk
Ph. 0208 761 2213
Web. Www.chandlerandgeorges.co.uk
STEEL BROTHERS AND COMPANY LIMITED
Registered number: 00032668
Balance Sheet
as at 31 December 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 1,000 1,000
Current assets
Debtors 3 167 160
Cash at bank and in hand 50,405 54,346
50,572 54,506
Creditors: amounts falling due within one year 4 (1,440) (2,880)
Net current assets 49,132 51,626
Total assets less current liabilities 50,132 52,626
Creditors: amounts falling due after more than one year 5 (304,097) (300,967)
Net liabilities (253,965) (248,341)
Capital and reserves
Called up share capital 10,000 10,000
Revaluation reserve 6 51,925 51,925
Profit and loss account (315,890) (310,266)
Shareholders' funds (253,965) (248,341)
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.
The 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T V Lakshmi Kanthan
Director
Approved by the board on 30 October 2017
STEEL BROTHERS AND COMPANY LIMITED
Notes to the Accounts
for the year ended 31 December 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2016 156,952
At 31 December 2016 156,952
Depreciation
At 1 January 2016 155,952
At 31 December 2016 155,952
Net book value
At 31 December 2016 1,000
At 31 December 2015 1,000
3 Debtors 2016 2015
£ £
Other debtors 167 160
4 Creditors: amounts falling due within one year 2016 2015
£ £
Other creditors 1,440 2,880
5 Creditors: amounts falling due after one year 2016 2015
£ £
Other creditors 304,097 300,967
6 Revaluation reserve 2016 2015
£ £
At 1 January 2016 51,925 51,925
At 31 December 2016 51,925 51,925
7 Controlling party
Ultimate holding company is Somerton Trading Group SA, a company registered in British Virgin Islands.
8 Other information
STEEL BROTHERS AND COMPANY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
75 Westow Hill
Crystal Palace
London
SE19 1TX
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