Company Registration No. 05465704 (England and Wales)
A B PIPE INSTALLATION LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
A B PIPE INSTALLATION LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
A B PIPE INSTALLATION LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
15,493
8,086
Current assets
Stocks
73,523
84,905
Debtors
82,144
109,782
Cash at bank and in hand
133
-
155,800
194,687
Creditors: amounts falling due within one year
3
(241,511)
(292,434)
Net current liabilities
(85,711)
(97,747)
Total assets less current liabilities
(70,218)
(89,661)
Creditors: amounts falling due after more than one year
4
(87,931)
(98,262)
(158,149)
(187,923)
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
(158,249)
(188,023)
Shareholders' funds
(158,149)
(187,923)
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 17 November 2016
A P Beaney
Director
Company Registration No. 05465704
A B PIPE INSTALLATION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
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).
The directors have provided interest free loans to the company and have provided security for the company's bank loan and overdraft and continue to provide financial support for the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the directors financial support.
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
25% reducing balance
Fixtures, fittings & equipment
20% reducing balance
Motor vehicles
25% reducing balance
1.5
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
A B PIPE INSTALLATION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
32,176
Additions
10,990
Disposals
(8,000)
At 31 March 2016
35,166
Depreciation
At 1 April 2015
24,090
On disposals
(6,102)
Charge for the year
1,685
At 31 March 2016
19,673
Net book value
At 31 March 2016
15,493
At 31 March 2015
8,086
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £45,203 (2015 - £69,630).
4
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
(10,578)
(24,222)
The aggregate amount of creditors for which security has been given amounted to £87,931 (2015 - £98,262).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
A B PIPE INSTALLATION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
6
Ultimate parent company
The ultimate controlling party is A P Beaney, a director of the company.
7
Related party relationships and transactions
Other transactions
The directors have provided interest free loans to the company, the balances outstanding at the year end are W Beaney £79,385 (2015: £90,981) and A Beaney £nil (2015: £11,054).