Company Registration No. 04130635 (England and Wales)
ABLE PLANT SERVICES LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
PAGES FOR FILING WITH REGISTRAR
ABLE PLANT SERVICES LTD
COMPANY INFORMATION
Director
James F. Kelly
Company number
04130635
Registered office
25 Cecil Road
Wealdstone
Harrow
Middlesex
HA3 5QY
Bankers
HSBC
26 - 28 St Ann's Road
Harrow
Middlesex
HA1 1LA
ABLE PLANT SERVICES LTD
CONTENTS
Page
Director's report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
ABLE PLANT SERVICES LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 1 -

The director presents his annual report and financial statements for the year ended 30 November 2016.

Principal activities

The principal activity of the company continues to be that of plant hire services.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

James F. Kelly

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
_______________
James F. Kelly
Director
18 July 2017
ABLE PLANT SERVICES LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2016
30 November 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
3
526,927
378,732
Current assets
Debtors
420,930
263,658
Cash at bank and in hand
44,047
7,129
464,977
270,787
Creditors: amounts falling due within one year
(428,405)
(201,900)
Net current assets
36,572
68,887
Total assets less current liabilities
563,499
447,619
Creditors: amounts falling due after more than one year
(140,255)
-
Provisions for liabilities
4
(66,634)
(47,809)
Net assets
356,610
399,810
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
6
356,609
399,809
Total equity
356,610
399,810
ABLE PLANT SERVICES LTD
BALANCE SHEET (continued)
AS AT
30 NOVEMBER 2016
30 November 2016
- 3 -

In accordance with section 444 of the Companies Act 2006 all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).

The director of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 .he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and signed by the director and authorised for issue on 18 July 2017
____________________________
James F. Kelly
Director
Company Registration No. 04130635
ABLE PLANT SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 4 -
1
Accounting policies
Company information

Able Plant Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 25 Cecil Road, Wealdstone, Harrow, Middlesex, HA3 5QY.

1.1
Accounting convention

The financial statements are prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates., and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ABLE PLANT SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2016
1
Accounting policies
(continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2015 - 3).

ABLE PLANT SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 6 -
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2015
1,113,258
8,958
7,625
1,129,841
Additions
280,169
-
-
280,169
At 30 November 2016
1,393,427
8,958
7,625
1,410,010
Depreciation and impairment
At 1 December 2015
740,721
5,980
4,408
751,109
Depreciation charged in the year
130,426
744
804
131,974
At 30 November 2016
871,147
6,724
5,212
883,083
Carrying amount
At 30 November 2016
522,280
2,234
2,413
526,927
At 30 November 2015
372,537
2,978
3,217
378,732

Hire purchase agreements

 

Included within the net book value of £526,927 is £427,250 (2015: £255,840) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £106,669 (2015: £63,791)

4
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2016
2015
Balances:
£
£
Excess of capital allowances over depreciation on fixed assets
66,634
47,809
2016
Movements in the year:
£
Liability at 1 December 2015
47,809
Charge to profit or loss
18,825
Liability at 30 November 2016
66,634
ABLE PLANT SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 7 -
5
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
1  of £1 each
1
1
ABLE PLANT SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 8 -
6
Profit and loss reserves
2016
2015
£
£
At the beginning of the year
399,809
382,996
(Loss)/profit for the year
(43,200)
16,813
At the end of the year
356,609
399,809
7
Post balance sheet events

There were no events since the year end which materially affected the company.

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