Able Skip Hire Limited - Accounts to registrar (filleted) - small 18.2
Able Skip Hire Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2018 |
| FOR |
| ABLE SKIP HIRE LIMITED |
| ABLE SKIP HIRE LIMITED (REGISTERED NUMBER: 03634516) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ABLE SKIP HIRE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Greenbank House |
| 141 Adelphi Street |
| Preston |
| Lancashire PR1 7BH |
| ABLE SKIP HIRE LIMITED (REGISTERED NUMBER: 03634516) |
| BALANCE SHEET |
| 31 OCTOBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| ABLE SKIP HIRE LIMITED (REGISTERED NUMBER: 03634516) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| ABLE SKIP HIRE LIMITED (REGISTERED NUMBER: 03634516) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2018 |
| 1. | STATUTORY INFORMATION |
| Able Skip Hire Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| The freehold properties held by the company are classed as investment properties. No depreciation has been |
| charged and freehold property is stated at open market value at the balance sheet date. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| ABLE SKIP HIRE LIMITED (REGISTERED NUMBER: 03634516) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Pensions |
| The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from |
| those of the company in an indepenently administered fund. Contributions payable for the year are charged in the |
| profit and loss account. |
| The company also operates a Stakeholder pension scheme for the benefit of its employees. It is under no |
| obligation to and does not contribute to the Stakeholder pension scheme, but acts as agent in collecting |
| employees' deductions and paying them over to the pension provider |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Motor |
| property | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 November 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 October 2018 |
| DEPRECIATION |
| At 1 November 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| Cost or valuation at 31 October 2018 is represented by: |
| Freehold | Plant and | Motor |
| property | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| Valuation in 2017 | 84,268 | - | - | 84,268 |
| Cost | 434,332 | 152,689 | 837,631 | 1,424,652 |
| 518,600 | 152,689 | 837,631 | 1,508,920 |
| ABLE SKIP HIRE LIMITED (REGISTERED NUMBER: 03634516) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2018 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2018 | 2017 |
| £ | £ |
| Cost | 434,332 | 265,732 |
| Freehold property was valued on an open market basis on 31 October 2017 by the directors . |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST OR VALUATION |
| At 1 November 2017 |
| Transfer to ownership | (134,525 | ) |
| At 31 October 2018 |
| DEPRECIATION |
| At 1 November 2017 |
| Transfer to ownership | (59,525 | ) |
| At 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 108,322 | 82,895 |
| Accrued expenses |
| ABLE SKIP HIRE LIMITED (REGISTERED NUMBER: 03634516) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2018 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts | - | 22,389 |
| The company has given a debenture dated 12th July 2000 in favour of HSBC Bank PLC, in respect of a fixed |
| and floating charge secured on all the assets of the company. Hire purchase creditors are secured on the relevant |
| assets. |
| 8. | RELATED PARTY DISCLOSURES |
| The company paid rent for its premises to Mr and Mrs C M Johnstone of £4,956 (2017 : £13,500). The company |
| purchased Unit 31, Centurion Way, Leyland, from Mr C M and Mrs A T Johnstone, on 14 March 2018, for |
| £168,600. The company paid a dividend of £4.05 per share on 6 April 2018 (2017: £4.05) to its directors, who |
| are also the shareholders; Mr C M Johnstone £24,300 (2017: £24,300), and Mr B K Johnstone £16,200 (2017: |
| £16,200). At the year end the company owed the following amounts to its directors : Mr C M Johnstone £92,121 |
| (2017: £66,696), and Mr B K Johnstone £16,200 (2017: £16,200). |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by one of its directors, Mr C M Johnstone. |