Company Registration No. 04224766 (England and Wales)
DRAPER CIVIL ENGINEERING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2015
DRAPER CIVIL ENGINEERING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
DRAPER CIVIL ENGINEERING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2015
31 October 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
308,359
250,718
Current assets
Debtors
390,646
306,663
Cash at bank and in hand
411,455
90,908
802,101
397,571
Creditors: amounts falling due within one year
(636,403)
(334,986)
Net current assets
165,698
62,585
Total assets less current liabilities
474,057
313,303
Creditors: amounts falling due after more than one year
(41,559)
(56,120)
Provisions for liabilities
(60,754)
(43,224)
371,744
213,959
Capital and reserves
Called up share capital
3
120
120
Profit and loss account
371,624
213,839
Shareholders' funds
371,744
213,959
DRAPER CIVIL ENGINEERING LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2015
31 October 2015
- 2 -
For the financial year ended 31 October 2015 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 29 July 2016
Mr Dale Draper
Mr Liam Draper
Director
Director
Company Registration No. 04224766
DRAPER CIVIL ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 3 -
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 April 2008).
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.
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
20% reducing balance
Computer equipment
10% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.5
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.
1.6
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.
1.7
Deferred taxation
Deferred tax is provided on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax at a future date at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is more likely than not they will be recovered. Deferred tax assets and liabilities are not discounted. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
DRAPER CIVIL ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2014
496,339
Additions
135,445
Disposals
(75,991)
At 31 October 2015
555,793
Depreciation
At 1 November 2014
245,621
On disposals
(65,081)
Charge for the year
66,894
At 31 October 2015
247,434
Net book value
At 31 October 2015
308,359
At 31 October 2014
250,718
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary A shares of £1 each
100
100
10 Ordinary B shares of £1 each
10
10
10 Ordinary C shares of £1 each
10
10
120
120