Registered Number 02844729

A.G. SMITH TRANSPORT SERVICES LIMITED

Abbreviated Accounts

31 December 2015

A.G. SMITH TRANSPORT SERVICES LIMITED Registered Number 02844729

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 154,152 309,458
154,152 309,458
Current assets
Debtors 48,164 109,659
Cash at bank and in hand 108,014 5,465
156,178 115,124
Creditors: amounts falling due within one year (105,850) (187,414)
Net current assets (liabilities) 50,328 (72,290)
Total assets less current liabilities 204,480 237,168
Total net assets (liabilities) 204,480 237,168
Capital and reserves
Called up share capital 3 5,000 5,000
Revaluation reserve 81,287 183,090
Profit and loss account 118,193 49,078
Shareholders' funds 204,480 237,168
  • For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 19 July 2016

And signed on their behalf by:
Mrs V A Smith, Director

A.G. SMITH TRANSPORT SERVICES LIMITED Registered Number 02844729

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives.

Valuation information and policy
The company's freehold properties were professionally valued in 2014. This valuation has been reduced by subsequent depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective January 2015) the properties continue to be stated at that valuation less accumulated depreciation to date and that valuation has not been updated.

2Tangible fixed assets
£
Cost
At 1 January 2015 341,405
Additions 137
Disposals (155,000)
Revaluations -
Transfers -
At 31 December 2015 186,542
Depreciation
At 1 January 2015 31,947
Charge for the year 1,355
On disposals (912)
At 31 December 2015 32,390
Net book values
At 31 December 2015 154,152
At 31 December 2014 309,458
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
5,000 Ordinary shares of £1 each 5,000 5,000