T Q Carpentry Ltd
Registered number: 06097729
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 2,034 13,619
Current assets
Debtors 3 13,720 9,238
Cash at bank and in hand 1,923 88
15,643 9,326
Creditors: amounts falling due within one year 4 (15,970) (22,931)
Net current liabilities (327) (13,605)
Net assets 1,707 14
Capital and reserves
Called up share capital 10 10
Profit and loss account 1,697 4
Shareholders' funds 1,707 14
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.
Mr T L Quinn
Director
Approved by the board on 18 May 2017
T Q Carpentry Ltd
Notes to the Accounts
for the year ended 31 March 2017
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).
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 evenly over its expected useful life, as follows:
Plant and machinery over 5 years
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2016 24,233
Additions 5,917
Disposals (18,100)
At 31 March 2017 12,050
Depreciation
At 1 April 2016 10,614
Charge for the year 1,215
On disposals (1,813)
At 31 March 2017 10,016
Net book value
At 31 March 2017 2,034
At 31 March 2016 13,619
3 Debtors 2017 2016
£ £
Trade debtors 280 528
Other debtors 13,440 8,710
13,720 9,238
4 Creditors: amounts falling due within one year 2017 2016
£ £
Corporation tax 6,423 4,679
Other taxes and social security costs 1,856 30
Other creditors 7,691 18,222
15,970 22,931
5 Other information
T Q Carpentry Ltd is a private company limited by shares and incorporated in England. Its registered office is 7 Heathfield Road, Chandlers Ford, Eastleigh, Hants SO53 5RP
T Q Carpentry Ltd 06097729 false 2016-04-01 2017-03-31 2017-03-31 VT Final Accounts March 2017 Mr T L Quinn No description of principal activity 06097729 core:WithinOneYear 2016-03-31 06097729 core:ShareCapital 2016-03-31 06097729 core:RetainedEarningsAccumulatedLosses 2016-03-31 06097729 2016-04-01 2017-03-31 06097729 bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 06097729 bus:AuditExemptWithAccountantsReport 2016-04-01 2017-03-31 06097729 bus:Director40 2016-04-01 2017-03-31 06097729 1 2016-04-01 2017-03-31 06097729 2 2016-04-01 2017-03-31 06097729 core:PlantMachinery 2016-04-01 2017-03-31 06097729 countries:England 2016-04-01 2017-03-31 06097729 bus:FRS102 2016-04-01 2017-03-31 06097729 bus:FullAccounts 2016-04-01 2017-03-31 06097729 2017-03-31 06097729 core:WithinOneYear 2017-03-31 06097729 core:ShareCapital 2017-03-31 06097729 core:RetainedEarningsAccumulatedLosses 2017-03-31 06097729 core:PlantMachinery 2017-03-31 06097729 2016-03-31 06097729 core:PlantMachinery 2016-03-31 iso4217:GBP