Company Registration No. 03368538 (England and Wales)
ABLAZE BUILDING SOLUTIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2016
Abbey House
Hickleys Court
South Street
Farnham
Surrey
GU9 7QQ
ABLAZE BUILDING SOLUTIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
ABLAZE BUILDING SOLUTIONS LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
28,849
18,157
Current assets
Stocks
4,920
4,992
Debtors
527,742
228,225
Cash at bank and in hand
43,357
178,982
576,019
412,199
Creditors: amounts falling due within one year
(462,634)
(300,539)
Net current assets
113,385
111,660
Total assets less current liabilities
142,234
129,817
Creditors: amounts falling due after more than one year
(78,408)
(10,022)
Provisions for liabilities
(5,244)
(3,059)
58,582
116,736
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
57,582
115,736
Shareholders' funds
58,582
116,736
ABLAZE BUILDING SOLUTIONS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their 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 22 March 2017
Mr J. E. Mitchell
Mr K. P. Rose
Director
Director
Company Registration No. 03368538
ABLAZE BUILDING SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
1
Accounting policies
1.1
Basis of accounting
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
Amortisation
Amortisation is calculated to write off the cost in equal annual instalments over the useful economic life of the asset. Research and development is written off over a period of 4 years.
1.5
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:
Equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.7
Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete or slow moving items.
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provisions are made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
1.8
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
ABLAZE BUILDING SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
1
Accounting policies
(Continued)
- 4 -
1.9
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.10
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 July 2015
3,603
62,569
66,172
Additions
-
18,000
18,000
Disposals
-
(21,466)
(21,466)
At 30 June 2016
3,603
59,103
62,706
Depreciation
At 1 July 2015
3,603
44,412
48,015
On disposals
-
(20,435)
(20,435)
Charge for the year
-
6,277
6,277
At 30 June 2016
3,603
30,254
33,857
Net book value
At 30 June 2016
-
28,849
28,849
At 30 June 2015
-
18,157
18,157
ABLAZE BUILDING SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 5 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
425 Ordinary A shares of £1 each
425
425
25 Ordinary B shares of £1 each
25
25
425 Ordinary C shares of £1 each
425
425
25 Ordinary D shares of £1 each
25
25
100 Ordinary E shares of £1 each
100
100
1,000
1,000