For the year ended 31 December 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 07388269
Erk Engineering Limited
For the year ended 31 December 2015
1
Balance Sheet
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Notes to the Abbreviated Financial Statements
Notes to the Abbreviated Financial Statements
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Erk Engineering Limited
For the year ended 31 December 2015
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover represents amounts receivable for goods and services net of VAT. Amounts receivable for services performed over time are based upon the stage of completion of the services performed.
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Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
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Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the
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shareholders prior to the balance sheet date
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Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Plant and Machinery
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Notes to the Abbreviated Financial Statements
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Erk Engineering Limited
For the year ended 31 December 2015
18,783
2,842
21,625
9,460
3,044
Charge for year
12,504
9,121
9,323
2014
2015
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Creditors due after more than one year
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-
4,123
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