Ark Removals & Storage Limited - Period Ending 2015-04-30

Registration number: 06560259

Ark Removals & Storage Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

Ark Removals & Storage Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Ark Removals & Storage Limited
(Registration number: 06560259)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					116,565			123,269
Current assets
Stocks					1,092			1,395
Debtors					76,549			44,188
Cash at bank and in hand					69,266			60,442
					146,907			106,025
Creditors: Amounts falling due within one year					(135,443)			(172,511)
Net current assets/(liabilities)					11,464			(66,486)
Total assets less current liabilities					128,029			56,783
Provisions for liabilities					(916)			(2,058)
Net assets					127,113			54,725
Capital and reserves
Called up share capital		3			245			245
Profit and loss account					126,868			54,480
Shareholders' funds					127,113			54,725

Page 1

Ark Removals & Storage Limited
(Registration number: 06560259)
Abbreviated Balance Sheet at 30 April 2015

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 27 January 2016 and signed on its behalf by:

M S Crook Director

Page 2

Ark Removals & Storage Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 April 2015

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 of five years. 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	over 5 years on a straight line basis

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
Plant and machinery	15% reducing balance
Office equipment	25% reducing balance
Motor vehicles	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.

Page 3

Ark Removals & Storage Limited
Notes to the Abbreviated Accounts
For the Year Ended 30 April 2015

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2014		200,000			203,513			403,513
Additions		-			20,435			20,435
At 30 April 2015		200,000			223,948			423,948
Depreciation
At 1 May 2014		200,000			80,244			280,244
Charge for the year		-			27,139			27,139
At 30 April 2015		200,000			107,383			307,383
Net book value
At 30 April 2015		-			116,565			116,565
At 30 April 2014		-			123,269			123,269

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		245			245			245			245

Page 4