Company Registration No. 04777858 (England and Wales)
D CARTER PLASTERING LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
D CARTER PLASTERING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
D CARTER PLASTERING LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
23,429
28,569
Investments
2
21,546
21,546
44,975
50,115
Current assets
Stocks
2,000
1,700
Debtors
294,710
353,734
Cash at bank and in hand
16,229
-
312,939
355,434
Creditors: amounts falling due within one year
(133,076)
(132,578)
Net current assets
179,863
222,856
Total assets less current liabilities
224,838
272,971
Creditors: amounts falling due after more than one year
(5,796)
(5,796)
219,042
267,175
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
219,041
267,174
Shareholders' funds
219,042
267,175
D CARTER PLASTERING LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 13 December 2016
Mr D A Carter
Director
Company Registration No. 04777858
D CARTER PLASTERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
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
Fixtures, fittings & equipment
15% Reducing Balance
Motor vehicles
25% Reducing Balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
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.
D CARTER PLASTERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 June 2015
60,000
84,144
21,546
165,690
Additions
-
2,496
-
2,496
Disposals
-
(1,029)
-
(1,029)
At 31 May 2016
60,000
85,611
21,546
167,157
Depreciation
At 1 June 2015
60,000
55,575
-
115,575
On disposals
-
(503)
-
(503)
Charge for the year
-
7,110
-
7,110
At 31 May 2016
60,000
62,182
-
122,182
Net book value
At 31 May 2016
-
23,429
21,546
44,975
At 31 May 2015
-
28,569
21,546
50,115
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary shares of £1 each
1
1
4
Transactions with directors
At the year end, the director Mr D A Carter owed the company £26,921 (2015: £134,521). There is no fixed date for repayment and interest has been charged at the official rate as determined by H M Revenue & Customs.