Abbreviated Company Accounts - ULTIMATE DEMOLITION AND CONSTRUCTION SERVICE LIMITED
Abbreviated Company Accounts - ULTIMATE DEMOLITION AND CONSTRUCTION SERVICE LIMITED
Registered Number 07665997
ULTIMATE DEMOLITION AND CONSTRUCTION SERVICE LIMITED
Abbreviated Accounts
31 July 2015
ULTIMATE DEMOLITION AND CONSTRUCTION SERVICE LIMITED Registered Number 07665997
Abbreviated Balance Sheet as at 31 July 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Called up share capital not paid |
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Fixed assets | |||
Intangible assets |
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Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 31 July 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
And signed on their behalf by:
ULTIMATE DEMOLITION AND CONSTRUCTION SERVICE LIMITED Registered Number 07665997
Notes to the Abbreviated Accounts for the period ended 31 July 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
the period, less returns received, at selling price exclusive of Value Added Tax. Sales are
recognised at the point at which the company has fulfilled its contractual obligations and the
risks and rewards attaching to the product, such as obsolescence, have been transferred to the
customer.
Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful economic life of that asset as follows:
Plant & Machinery - 20% reducing balance
Fixtures & Fittings - 20% straight line
Motor Vehicles - 20% reducing balance
Freehold land is not depreciated.
Other accounting policies
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
Deferred taxation
Deferred tax is recognised in respect of all material timing differences that have originated but
not reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax.
The only exception is that deferred tax assets are recognised only to the extent that the directors
consider that it is more likely than not that there will be suitable taxable profits from which the
future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in
the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the
contractual arrangements entered into. An equity instrument is any contract that evidences a
residual interest in the assets of the entity after deducting all of its financial liabilities.
£ | |
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Cost | |
At 1 August 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 July 2015 |
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Depreciation | |
At 1 August 2014 |
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Charge for the year |
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On disposals |
( |
At 31 July 2015 |
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Net book values | |
At 31 July 2015 | 179,988 |
At 31 July 2014 | 111,265 |