Paul Roberts Builders Limited - Period Ending 2014-12-31

Registration number: 05304941

Paul Roberts Builders Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Saul Fairholm Limited
12 Tentercroft Street
Lincoln
LN5 7DB

Paul Roberts Builders Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Paul Roberts Builders Limited
(Registration number: 05304941)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					77,800			85,600
Tangible fixed assets		2			119,043			128,273
					196,843			213,873
Current assets
Stocks					559,963			289,863
Debtors					22,952			382,214
Cash at bank and in hand					22,988			13,385
					605,903			685,462
Creditors: Amounts falling due within one year		3			(547,527)			(491,192)
Net current assets					58,376			194,270
Total assets less current liabilities					255,219			408,143
Creditors: Amounts falling due after more than one year		3			(100,000)			(246,229)
Provisions for liabilities					(24,154)			(25,655)
Net assets					131,065			136,259
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					130,965			136,159
Shareholders' funds					131,065			136,259

For the year ending 31 December 2014 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 9 September 2015 and signed on its behalf by:

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Paul Roberts Builders Limited
(Registration number: 05304941)
Abbreviated Balance Sheet at 31 December 2014
......... continued

.........................................
Mr Paul Alan Roberts
Director

.........................................
Mrs Phillipa Jane Roberts
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Paul Roberts Builders Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

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).

Turnover

Turnover represents the fair value of the consideration received or receivable for building services, net of discounts and sales taxes. Revenue is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue and associated costs can be measured reliably.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life of twenty years.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold improvements	Not depreciated
Plant and equipment	15% on reducing balance
Office fixtures and fittings	15% on reducing balance
Motor vehicles	25% on reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Paul Roberts Builders Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		219,000			157,224			376,224
Additions		-			16,637			16,637
Disposals		-			(14,358)			(14,358)
At 31 December 2014		219,000			159,503			378,503
Depreciation
At 1 January 2014		133,400			28,951			162,351
Charge for the year		7,800			21,570			29,370
Eliminated on disposals		-			(10,061)			(10,061)
At 31 December 2014		141,200			40,460			181,660
Net book value
At 31 December 2014		77,800			119,043			196,843
At 31 December 2013		85,600			128,273			213,873

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

Page 4

Paul Roberts Builders Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

		2014 £			2013 £
Amounts falling due within one year		377,420			210,140
Amounts falling due after more than one year		-			46,229
Total secured creditors		377,420			256,369

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 5