Registered number: | |||||||
Abbreviated Balance Sheet | |||||||
as at |
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Notes | 2017 | 2016 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 2 | ||||||
Current assets | |||||||
Debtors | 17,391 | 18,572 | |||||
Cash at bank and in hand | 37,820 | 127,305 | |||||
Creditors: amounts falling due within one year | ( |
( |
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Net current liabilities | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | 3 | ||||||
Profit and loss account | 28,104 | 663 | |||||
Shareholders' funds | |||||||
Mr G Downes | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Abbreviated Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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 | 20% straight line | |||||||
Motor vehicles | 25% straight line | |||||||
Stocks | ||||||||
Stock is valued at the lower of cost and net realisable value. | ||||||||
Deferred taxation | ||||||||
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. | ||||||||
Foreign currencies | ||||||||
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. | ||||||||
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. |
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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 January 2017 | 227,777 | |||||||
At 31 December 2017 | 227,777 | |||||||
Depreciation | ||||||||
At 1 January 2017 | 95,654 | |||||||
Charge for the year | 7,174 | |||||||
At 31 December 2017 | 102,828 | |||||||
Net book value | ||||||||
At 31 December 2017 | 124,949 | |||||||
At 31 December 2016 | 132,123 | |||||||
3 | Share capital | Nominal | 2017 | 2017 | 2016 | |||
value | Number | £ | £ | |||||
Allotted, called up and fully paid: | ||||||||
Ordinary shares | £1 each | 200 | 200 | 200 | ||||