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R.B.C. SCAFFOLDING (BRISTOL) LIMITED
REGISTERED NUMBER: 01119641
ABBREVIATED BALANCE SHEET
AS AT 31 MAY 2015
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 May 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The abbreviated accounts, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 3 form part of these financial statements.
Page 1
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R.B.C. SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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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).
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised when the company becomes entitled to receive payment on individual contracts. Where contractual obligations have been partially perfomed at the balance sheet date, revenue is recognised to the extent that the company has obtained the right to consideration under contract terms through its performance.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is not charged on freehold land. Depreciation on other tangible fixed assets is provided at rates calculated to write off the cost of those assets, less their estimated residual value, over their expected useful lives on the following bases:
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Office equipment and fittings
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Stocks and work in progress
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Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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The accounts have been prepared on the going concern basis, which assumes that the company will continue in operational existence for a period of at least twelve months from the date of approval of the accounts. In the opinion of the directors, the use of the going concern basis remains appropriate, as they have no significant doubts as to the company's ability to trade for this period.
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Page 2
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R.B.C. SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
2.TANGIBLE FIXED ASSETS
Land and buildings are shown at cost of £137,070 (2014 - £137,070) and are not depreciated.
3.CREDITORS:
Amounts falling due within one year
The company's bank overdraft of £nil (2014 £nil) is secured on the freehold land and buildings owned by the company and by a personal guarantee given by R.B.Cole, a director.
4.SHARE CAPITAL
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Allotted, called up and fully paid
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2 "A" Ordinary shares of £1 each
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1 "B" Ordinary share of £1
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Page 3
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