Abbreviated Company Accounts - TANKGAS EQUIPMENT LIMITED

Abbreviated Company Accounts - TANKGAS EQUIPMENT LIMITED

TANKGAS EQUIPMENT LIMITED - Company Information

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Registered Number 03195305

TANKGAS EQUIPMENT LIMITED

Abbreviated Accounts

30 April 2015

TANKGAS EQUIPMENT LIMITED Registered Number 03195305

Abbreviated Balance Sheet as at 30 April 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 28,509 37,607
28,509 37,607
Current assets
Stocks 131,350 117,159
Debtors 211,463 271,594
Cash at bank and in hand 84,546 66,805
427,359 455,558
Creditors: amounts falling due within one year (201,816) (251,879)
Net current assets (liabilities) 225,543 203,679
Total assets less current liabilities 254,052 241,286
Total net assets (liabilities) 254,052 241,286
Capital and reserves
Called up share capital 3 5,000 5,000
Profit and loss account 249,052 236,286
Shareholders' funds 254,052 241,286
  • For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 June 2015

And signed on their behalf by:
M J S Griggs, Director

TANKGAS EQUIPMENT LIMITED Registered Number 03195305

Notes to the Abbreviated Accounts for the period ended 30 April 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:

Plant and machinery - 25% reducing balance basis
Fixtures, fittings and equipment - 20% straight line basis
Motor vehicles - 25% reducing balance basis

Other accounting policies
LEASING
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

STOCK
Stock is valued at the lower of cost and net realisable value.

PENSIONS
The pension costs charged in the financial statements represent the contribution payable by the company during the year. The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employees' service lives on the basis of a constant percentage of earnings.

2Tangible fixed assets
£
Cost
At 1 May 2014 88,079
Additions 596
Disposals (2,789)
Revaluations -
Transfers -
At 30 April 2015 85,886
Depreciation
At 1 May 2014 50,472
Charge for the year 9,608
On disposals (2,703)
At 30 April 2015 57,377
Net book values
At 30 April 2015 28,509
At 30 April 2014 37,607
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
5,000 Ordinary shares of £1 each 5,000 5,000

4Transactions with directors

Name of director receiving advance or credit: M J S Grigga
Description of the transaction: Interest free loan
Balance at 1 May 2014: £ 4,998
Advances or credits made: -
Advances or credits repaid: -
Balance at 30 April 2015: £ 4,998