Company Registration No. 04692993 (England and Wales)
M J FEW PLUMBING & HEATING LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
M J FEW PLUMBING & HEATING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
M J FEW PLUMBING & HEATING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
10,780
12,320
Tangible assets
2
45,864
47,152
56,644
59,472
Current assets
Stocks
58,946
34,707
Debtors
100,914
84,664
Cash at bank and in hand
395,549
355,702
555,409
475,073
Creditors: amounts falling due within one year
(214,727)
(177,934)
Net current assets
340,682
297,139
Total assets less current liabilities
397,326
356,611
Creditors: amounts falling due after more than one year
(2,970)
(13,078)
394,356
343,533
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
394,355
343,532
Shareholders' funds
394,356
343,533
M J FEW PLUMBING & HEATING LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
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.
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 28 September 2016
Mr M J Few
Director
Company Registration No. 04692993
M J FEW PLUMBING & HEATING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 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 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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
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:
Plant and machinery
15% Reducing Balance
Fixtures, fittings & equipment
15% Reducing Balance
Motor vehicles
25% Reducing Balance
1.6
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
1.7
Pensions
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
M J FEW PLUMBING & HEATING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
30,800
99,590
130,390
Additions
-
9,972
9,972
At 31 March 2016
30,800
109,562
140,362
Depreciation
At 1 April 2015
18,480
52,438
70,918
Charge for the year
1,540
11,260
12,800
At 31 March 2016
20,020
63,698
83,718
Net book value
At 31 March 2016
10,780
45,864
56,644
At 31 March 2015
12,320
47,152
59,472
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary shares of £1 each
1
1