Ian Richards ( Westcountry Construction) Ltd - Abbreviated accounts

IAN RICHARDS (WEST COUNTRY CONSTRUCTION) LIMITED - Company Information

Ian Richards ( Westcountry Construction) Ltd
Balance Sheet
as at 31 May 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	5		2,572			3,429
Investments	6		230,000			129,056
			232,572			132,485

Current assets
Stocks		600			500
Debtors	7	83,103			139,311
Cash at bank and in hand		833			4
		84,536			139,815

Creditors: amounts falling due within one year	8	(75,303)			(84,157)

Net current assets			9,233			55,658

Total assets less current liabilities			241,805			188,143

Creditors: amounts falling due after more than one year	9		(140,095)			(140,116)

Provisions for liabilities	11		(514)			(686)


Net assets			101,196			47,341

Capital and reserves
Called up share capital	12		101			101
Revaluation reserve	13		100,944			-
Profit and loss account	14		151			47,240

Shareholders' funds			101,196			47,341

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit 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 the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.




I A Richards
Director
Approved by the board on 26 February 2016

Registered number

05203099

Ian Richards ( Westcountry Construction) Ltd

Abbreviated Accounts

31 May 2015

Ian Richards ( Westcountry Construction) Ltd
Registered number:		05203099
Abbreviated Balance Sheet
as at 31 May 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		2,572			3,429
Investments	3		230,000			129,056
			232,572			132,485

Current assets
Stocks		600			500
Debtors		83,103			139,311
Cash at bank and in hand		833			4
		84,536			139,815

Creditors: amounts falling due within one year		(75,303)			(84,157)

Net current assets			9,233			55,658

Total assets less current liabilities			241,805			188,143

Creditors: amounts falling due after more than one year			(140,095)			(140,116)

Provisions for liabilities			(514)			(686)


Net assets			101,196			47,341

Capital and reserves
Called up share capital	5		101			101
Revaluation reserve			100,944			-
Profit and loss account			151			47,240

Shareholders' funds			101,196			47,341

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit 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 the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



I A Richards
Director
Approved by the board on 26 February 2016

Ian Richards ( Westcountry Construction) Ltd
Notes to the Abbreviated Accounts
for the year ended 31 May 2015

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

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

	Investment Properties
	Depreciation has not been provided on the investment property, in accordance with SSAP 19, as
	the property is maintained to such a standard that no diminution in value is expected for the
	foreseeable future.

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


2	Tangible fixed assets					£

	Cost
	At 1 June 2014					20,377
	At 31 May 2015					20,377

	Depreciation
	At 1 June 2014					16,948
	Charge for the year					857
	At 31 May 2015					17,805

	Net book value
	At 31 May 2015					2,572
	At 31 May 2014					3,429


3	Investments					£

	Cost
	At 1 June 2014					129,056
	Additions					100,944

	At 31 May 2015					230,000

4	Loans					2015		2014
£							£
	Creditors include:
	Amounts falling due for payment after more than five years					140,095		140,115
	Secured bank loans					173,784		170,178


	The Capital Homes loan is secured on a second legal charge on the property known as
	2 Rospeath Cottages, Crowlas, Penzance.

	The directors have also provided a personal security guarantee on their private property against
	the bank loan and overdraft.

5	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		101		101		101


7	Transactions with directors

	At 31st May 2015 the directors, Mr I & Mrs L Richards, owed the company £55,240.30. (Maximum in the year £115,638.76.) The loan is interest free and is included in other debtors.