Company Registration No. 4182085 (England and Wales)
A & B PLANT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
A & B PLANT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
A & B PLANT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
226,196
190,964
Current assets
Stocks
15,364
20,573
Debtors
200,069
175,738
Cash at bank and in hand
32,641
6,880
248,074
203,191
Creditors: amounts falling due within one year
3
(219,813)
(214,755)
Net current assets/(liabilities)
28,261
(11,564)
Total assets less current liabilities
254,457
179,400
Creditors: amounts falling due after more than one year
4
(29,058)
(17,936)
Provisions for liabilities
(45,098)
(38,193)
180,301
123,271
Capital and reserves
Called up share capital
5
4
4
Profit and loss account
180,297
123,267
Shareholders' funds
180,301
123,271
A & B PLANT LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 October 2016
N. Stafford
Director
Company Registration No. 4182085
A & B PLANT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
15% reducing balance and 50% straight line
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
1.7
Revenue recognition
Turnover is recognised over the period the service is provided to the customer.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
A & B PLANT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
446,465
Additions
90,392
Disposals
(37,300)
At 31 March 2016
499,557
Depreciation
At 1 April 2015
255,500
On disposals
(25,215)
Charge for the year
43,076
At 31 March 2016
273,361
Net book value
At 31 March 2016
226,196
At 31 March 2015
190,964
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £27,570 (2015 - £18,073).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £29,056 (2015 - £17,936).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
4 Ordinary shares of £1 each
4
4