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Registration number: 02530653

Able Lifting Equipment (Southern) Limited
 

 
Annual Report and Unaudited Abbreviated Accounts
 

 
for the Year Ended 31 October 2016
 

 

Able Lifting Equipment (Southern) Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 3

 

Able Lifting Equipment (Southern) Limited
(Registration number: 02530653)
Abbreviated Balance Sheet at 31 October 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

68,247

   

86,144

 

Current assets

 

             

Stocks

 

   

39,693

   

38,643

 

Debtors

 

   

240,874

   

231,113

 

Cash at bank and in hand

 

   

41,568

   

19,932

 
   

   

322,135

   

289,688

 

Creditors: Amounts falling due within one year

 

   

(276,934)

   

(273,045)

 

Net current assets

 

   

45,201

   

16,643

 

Total assets less current liabilities

 

   

113,448

   

102,787

 

Creditors: Amounts falling due after more than one year

 

   

(2,500)

   

(2,500)

 

Provisions for liabilities

 

   

(13,260)

   

(14,329)

 

Net assets

 

   

97,688

   

85,958

 

Capital and reserves

 

             

Called up share capital

 

3

   

5,300

   

5,300

 

Profit and loss account

 

   

92,388

   

80,658

 

Shareholders' funds

 

   

97,688

   

85,958

 

For the year ending 31 October 2016 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 director acknowledges his 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 director on 13 April 2017

.........................................
Mr M H Dunning
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

Able Lifting Equipment (Southern) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Goodwill is being written off over its expected useful life of ten years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Fixtures and fittings

15% reducing balance

Plant and machinery

15% reducing balance

Leasehold property

over the period of the lease

Stock

Stock and work in progress is valued at the lower of cost and estimated net realisable value. Cost of raw materials is determined on the first in first out basis. In the case of work in progress and finished goods, cost includes all direct expenditure and production overheads based on the normal level of activity. Net realisable value is the price at which the stock can be released in the normal course of business, less further costs to completion of sale.




Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Amounts due under finance leases are included as a debtor at the amount of the net investment in the lease. Lease payments receivable are apportioned between repayments of capital and interest so as to give a constant periodic rate of return on the net cash investment in the lease.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

 

Able Lifting Equipment (Southern) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2

Fixed assets

   

Intangible assets
£

   

Tangible assets
£

   

Total
£

 

Cost

                 

At 1 November 2015

 

3,328

   

272,559

   

275,887

 

Additions

 

-

   

13,501

   

13,501

 

Disposals

 

-

   

(24,111)

   

(24,111)

 

At 31 October 2016

 

3,328

   

261,949

   

265,277

 

Depreciation

                 

At 1 November 2015

 

3,328

   

186,415

   

189,743

 

Charge for the year

 

-

   

18,841

   

18,841

 

Eliminated on disposals

 

-

   

(11,554)

   

(11,554)

 

At 31 October 2016

 

3,328

   

193,702

   

197,030

 

Net book value

                 

At 31 October 2016

 

-

   

68,247

   

68,247

 

At 31 October 2015

 

-

   

86,144

   

86,144

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

5,200

   

5,200

   

5,200

   

5,200

 

Class B ordinary shares of £1 each

 

50

   

50

   

50

   

50

 

Class C ordinary shares of £1 each

 

50

   

50

   

50

   

50

 
   

5,300

   

5,300

   

5,300

   

5,300

 

4

Control

The company is controlled by Mr M H Dunning and Mrs L A Dunning who own 100% of the voting share capital of the company.