Registered number
07216843
A & R CONTRACTING LTD
Report and Accounts
31 May 2017
A & R CONTRACTING LTD
Registered number: 07216843
Balance Sheet
as at 31 May 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 188,149 193,437
Current assets
Debtors 4 118,526 131,422
Cash at bank and in hand 185,369 160,322
303,895 291,744
Creditors: amounts falling due within one year 5 (77,953) (81,206)
Net current assets 225,942 210,538
Total assets less current liabilities 414,091 403,975
Creditors: amounts falling due after more than one year 6 (94,435) (99,019)
Provisions for liabilities (3,905) (5,151)
Net assets 315,751 299,805
Capital and reserves
Called up share capital 100 100
Profit and loss account 315,651 299,705
Shareholders' funds 315,751 299,805
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.
R P Stone
Director
Approved by the board on 3 November 2017
A & R CONTRACTING LTD
Notes to the Accounts
for the year ended 31 May 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and equipment 25% reducing balance
Motor vehicles 25% reducing balance
Computers 25% on cost
Investment property Nil
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2017 2016
Number Number
Average monthly number of employees, including director(s), during the year 14 15
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2016 167,682 11,629 43,190 222,501
Additions 941 - - 941
At 31 May 2017 168,623 11,629 43,190 223,442
Depreciation
At 1 June 2016 - 7,330 21,734 29,064
Charge for the year - 864 5,365 6,229
At 31 May 2017 - 8,194 27,099 35,293
Net book value
At 31 May 2017 168,623 3,435 16,091 188,149
At 31 May 2016 167,682 4,299 21,456 193,437
4 Debtors 2017 2016
£ £
Trade debtors 67,472 77,366
Other debtors 51,054 54,056
118,526 131,422
5 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 3,709 3,356
Trade creditors 5,931 34,369
Corporation tax 18,428 3,377
Other taxes and social security costs 16,640 21,870
Other creditors 33,245 18,234
77,953 81,206
6 Creditors: amounts falling due after one year 2017 2016
£ £
Bank loans 94,435 99,019
7 Loans 2017 2016
£ £
Creditors include:
Instalments falling due for payment after more than five years 79,335 84,184
Secured bank loans 98,144 102,375
The bank loan has been guaranteed under the personal names of the directors of the company.
8 Other financial commitments 2017 2016
£ £
Total future minimum payments under non-cancellable operating leases 10,538 20,266
9 Related party transactions
Transations with the directors during the year are as follows:

Dividends totalling £53,560 (2016 - £57,200) were paid in the year in respect of shares held by the company's directors.
10 Other information
A & R CONTRACTING LTD is a private company limited by shares and incorporated in England. Its registered office is:
7A King Street
Frome
Somerset
BA11 1BH
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