PJM Scaffolding Contractors Ltd - Period Ending 2015-03-31

Registration number: 07235806

PJM Scaffolding Contractors Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Deseret Accountants Limited
4 Thorpe Court
Thorpe Waterville
Kettering
Northants
NN14 3ED

PJM Scaffolding Contractors Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

PJM Scaffolding Contractors Ltd
(Registration number: 07235806)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					236,312			168,539
Current assets
Debtors					135,039			95,996
Cash at bank and in hand					1			3,185
					135,040			99,181
Creditors: Amounts falling due within one year					(65,324)			(47,937)
Net current assets					69,716			51,244
Total assets less current liabilities					306,028			219,783
Creditors: Amounts falling due after more than one year					(99,839)			(57,780)
Net assets					206,189			162,003
Capital and reserves
Called up share capital		3			10			10
Profit and loss account					206,179			161,993
Shareholders' funds					206,189			162,003

For the year ending 31 March 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 director acknowledges his 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 director on 29 December 2015

.........................................
Mr P Tomkins-Moore
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

PJM Scaffolding Contractors Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of 4 years

Asset class	Amortisation method and rate
Goodwill	25% straight line

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class	Depreciation method and rate
Plant and machinery	15% on reducing balance
Office equipment	25% on reducing balance
Motor vehicles	25% on reducing balance

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.

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.

Page 2

PJM Scaffolding Contractors Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

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 April 2014		75,000			233,322			308,322
Additions		-			116,835			116,835
At 31 March 2015		75,000			350,157			425,157
Depreciation
At 1 April 2014		75,000			64,783			139,783
Charge for the year		-			49,062			49,062
At 31 March 2015		75,000			113,845			188,845
Net book value
At 31 March 2015		-			236,312			236,312
At 31 March 2014		-			168,539			168,539

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		10			10			10			10

Page 3