ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED - Company Information

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Registered number: 03622012









LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED







UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2014
 
LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED
 
 
The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED
FOR THE YEAR ENDED 31 AUGUST 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Landfill Pipe & Construction Services Limited for the year ended 31 August 2014 which comprise the Profit and loss account, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
 

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.


This report is made solely to the Board of directors of Landfill Pipe & Construction Services Limited, as a body, in accordance with the terms of our engagement letter dated 2 March 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Landfill Pipe & Construction Services Limited and state those matters that we have agreed to state to the Board of directors of Landfill Pipe & Construction Services Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Landfill Pipe & Construction Services Limited and its Board of directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Landfill Pipe & Construction Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and profit. You consider that Landfill Pipe & Construction Services Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Landfill Pipe & Construction Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.







MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

27 January 2015
Page 1
 
LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED
REGISTERED NUMBER: 03622012

ABBREVIATED BALANCE SHEET
AS AT 31 AUGUST 2014

2014
2013
Note
£
£
£
£
 
FIXED ASSETS





 
Tangible assets
 
2
115,072
150,783
 
CURRENT ASSETS





 
Stocks
12,622
7,042

 
Debtors
99,011
73,906

 
Cash at bank and in hand

181,454
147,118







 
293,087
228,066
 
CREDITORS: amounts falling due within one year
(146,560)
(108,939)
 
NET CURRENT ASSETS


146,527

119,127
 
TOTAL ASSETS LESS CURRENT LIABILITIES
261,599
269,910
 
CREDITORS: amounts falling due after more than one year
(13,219)

(30,785)
 
PROVISIONS FOR LIABILITIES





 
Deferred tax
(10,333)
(14,337)

NET ASSETS




 238,047


 224,788
  
CAPITAL AND RESERVES

 
Called up share capital
3
2
2
 
Profit and loss account
238,045
224,786
 
SHAREHOLDERS' FUNDS
 

 238,047

 224,788


The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 August 2014 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Page 2
 
LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED
 
    
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 AUGUST 2014

The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 27 January 2015.






M K Grady
Director

The notes on pages 4 to 5 form part of these financial statements.

Page 3
 
LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2014

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.3
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 of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
20% reducing balance
Computer equipment
-
33% straight line

1.4
Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.5
Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.

Page 4
 
LANDFILL PIPE & CONSTRUCTION SERVICES LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2014

2.TANGIBLE FIXED ASSETS



£


Cost 


At 1 September 2013
410,651

Additions
1,256


At 31 August 2014

411,907



Depreciation


At 1 September 2013
259,868

Charge for the year
36,967


At 31 August 2014

296,835




Net book value


At 31 August 2014
 115,072


At 31 August 2013

 150,783


3.SHARE CAPITAL

        2014
        2013
        £

        £

Allotted, called up and fully paid



2 Ordinary shares of £1 each
 2
 2

Page 5