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Registration number: 03160369

A.B. Traincare Engineering Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

 

A.B. Traincare Engineering Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

A.B. Traincare Engineering Limited

(Registration number: 03160369)
Balance Sheet as at 31 December 2016

Note

2016
£

2015
£

Fixed assets

 

Tangible assets

4

791

892

Investment property

5

135,913

101,338

 

136,704

102,230

Current assets

 

Debtors

6

58,118

24,802

Other financial assets

-

26,202

Cash at bank and in hand

 

112,938

123,198

 

171,056

174,202

Creditors: Amounts falling due within one year

7

(26,826)

(27,758)

Net current assets

 

144,230

146,444

Net assets

 

280,934

248,674

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

280,834

248,574

Total equity

 

280,934

248,674

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

A.B. Traincare Engineering Limited

(Registration number: 03160369)
Balance Sheet as at 31 December 2016

Approved and authorised by the Board on 7 September 2017 and signed on its behalf by:
 

.........................................

Mr A Barber

Director

 

A.B. Traincare Engineering Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Wexford
Barton Lane
Armthorpe
Doncaster
South Yorkshire
DN3 3AB

These financial statements were authorised for issue by the Board on 7 September 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

A.B. Traincare Engineering Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2015 - 1).

 

A.B. Traincare Engineering Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2016

3,300

3,300

Additions

167

167

At 31 December 2016

3,467

3,467

Depreciation

At 1 January 2016

2,408

2,408

Charge for the year

268

268

At 31 December 2016

2,676

2,676

Carrying amount

At 31 December 2016

791

791

At 31 December 2015

892

892

5

Investment properties

2016
£

At 1 January

101,338

Additions

34,575

At 31 December

135,913

The directors consider that the carrying value of the investment property represents the fair value.

There has been no valuation of investment property by an independent valuer.

6

Debtors

2016
£

2015
£

Trade debtors

57,344

23,649

Other debtors

774

156

Prepayments

-

997

58,118

24,802

 

A.B. Traincare Engineering Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

7

Creditors

Note

2016
£

2015
£

Due within one year

 

Amounts owed to related parties

12,241

22,256

Taxation and social security

 

-

42

Income tax liability

 

12,325

3,380

Accrued expenses

 

2,260

2,080

 

26,826

27,758

8

Transition to FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS102 and have not impacted on equity or the profit and loss.