ABBOTTS CARPENTRY LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
Company Registration No. 07119744 (England and Wales)
ABBOTTS CARPENTRY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBOTTS CARPENTRY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,377
3,472
Current assets
Debtors
13,961
14,759
Cash at bank and in hand
35,034
21,113
48,995
35,872
Creditors: amounts falling due within one year
(34,955)
(29,168)
Net current assets
14,040
6,704
Total assets less current liabilities
19,417
10,176
Provisions for liabilities
(1,075)
(495)
18,342
9,681
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
18,341
9,680
Shareholder's funds
18,342
9,681
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.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his 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 19 April 2016
Mr P L Abbott
Director
Company Registration No. 07119744
ABBOTTS CARPENTRY 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).
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% per annum reducing balance
Motor vehicles
25% per annum reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
7,793
Additions
5,500
Disposals
(4,400)
At 31 March 2016
8,893
Depreciation
At 1 April 2015
4,321
On disposals
(2,598)
Charge for the year
1,793
At 31 March 2016
3,516
Net book value
At 31 March 2016
5,377
At 31 March 2015
3,472
ABBOTTS CARPENTRY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary shares of £1 each
1
1
4
Ultimate parent company
The company is controlled by Mr P Abbott, the company's managing director.
5
Related party relationships and transactions
Other transactions
During the year the company has been loaned money by the director on an interest free basis. The amount outstanding at the year end was £24,975 ( 2015 - £19,946).