Peak Hill Groundworks Limited - Period Ending 2015-06-30

Registration number: 06928609

Peak Hill Groundworks Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Bulley Davey Limited
Chartered Certified Accountants
1 - 4 London Road
Spalding
Lincolnshire
PE11 2TA

Peak Hill Groundworks Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Peak Hill Groundworks Limited
(Registration number: 06928609)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					95,759			119,698
Tangible fixed assets		2			54,628			53,542
					150,387			173,240
Current assets
Stocks					6,800			3,850
Debtors					89,984			57,931
Cash at bank and in hand					508,546			367,078
					605,330			428,859
Creditors: Amounts falling due within one year					(144,467)			(136,598)
Net current assets					460,863			292,261
Total assets less current liabilities					611,250			465,501
Provisions for liabilities					(10,925)			(10,708)
Net assets					600,325			454,793
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					600,225			454,693
Shareholders' funds					600,325			454,793

For the year ending 30 June 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 1 January 2016 and signed on its behalf by:

 Mr P R Wortley
 Director

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

Peak Hill Groundworks Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 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).

Going concern

The financial statements have been prepared on a going concern basis.

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

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

Asset class	Amortisation method and rate
Goodwill	10% straight line

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
Motor vehicles	25% reducing balance
Plant and machinery	25% reducing balance

Stock

Stock 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.

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 2

Peak Hill Groundworks Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... 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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2014		239,393			92,656			332,049
Additions		-			19,295			19,295
At 30 June 2015		239,393			111,951			351,344
Depreciation
At 1 July 2014		119,695			39,114			158,809
Charge for the year		23,939			18,209			42,148
At 30 June 2015		143,634			57,323			200,957
Net book value
At 30 June 2015		95,759			54,628			150,387
At 30 June 2014		119,698			53,542			173,240

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3