Abbreviated Company Accounts - PANBRIDGE CONSTRUCTION LIMITED
Abbreviated Company Accounts - PANBRIDGE CONSTRUCTION LIMITED
Registered Number 03183412
PANBRIDGE CONSTRUCTION LIMITED
Abbreviated Accounts
29 April 2015
PANBRIDGE CONSTRUCTION LIMITED Registered Number 03183412
Abbreviated Balance Sheet as at 29 April 2015
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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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Investments |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: amounts falling due within one year | 3 |
( |
( |
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 | 3 |
( |
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Provisions for liabilities |
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Accruals and deferred income |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
( |
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For the year ending 29 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
And signed on their behalf by:
PANBRIDGE CONSTRUCTION LIMITED Registered Number 03183412
Notes to the Abbreviated Accounts for the period ended 29 April 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and Machinery - 20% per annum reducing balance basis
Fixtures and Fittings - 20 % per annum reducing balance basis
Motor Vehicles - 25% per annum reducing balance basis
Other accounting policies
Stocks are stated at the lower of cost incurred in bringing each product to its present location and condition, and net realisable value as follows:
Raw materials, consumables and goods for resale - purchase cost on a first-in, first-out basis.
Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion and disposal.
Profit on long term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.
Deferred taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that would have been enacted by the balance sheet date.
Leasing
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Pension costs
The company operates a defined contribution pension scheme and pension contributions are charged to profit and loss account to spread the cost of the pensions over the employees working lives.
£ | |
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Cost | |
At 1 May 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 29 April 2015 |
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Depreciation | |
At 1 May 2014 |
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Charge for the year |
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On disposals |
( |
At 29 April 2015 |
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Net book values | |
At 29 April 2015 | 10,803 |
At 30 April 2014 | 5,670 |
2015
£ |
2014
£ |
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Secured Debts |
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Instalment debts due after 5 years |
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Non-instalment debts due after 5 years |
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