Registered number
03424517
A & B Carpentry & Construction Limited
Abbreviated Accounts
31 October 2016
A & B Carpentry & Construction Limited
Registered number: 03424517
Abbreviated Balance Sheet
as at 31 October 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 80,408 89,634
Current assets
Stocks 7,515 9,135
Debtors 29,910 61,773
Cash at bank and in hand 118,587 81,983
156,012 152,891
Creditors: amounts falling due within one year (128,800) (144,959)
Net current assets 27,212 7,932
Total assets less current liabilities 107,620 97,566
Creditors: amounts falling due after more than one year (16,813) (23,538)
Net assets 90,807 74,028
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 90,707 73,928
Shareholders' funds 90,807 74,028
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.
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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
D N Hitchings
Director
Approved by the board on 25 July 2017
A & B Carpentry & Construction Limited
Notes to the Abbreviated Accounts
for the year ended 31 October 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Tangible fixed assets £
Cost
At 1 November 2015 110,176
Additions 4,000
At 31 October 2016 114,176
Depreciation
At 1 November 2015 20,542
Charge for the year 13,226
At 31 October 2016 33,768
Net book value
At 31 October 2016 80,408
At 31 October 2015 89,634
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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