Regency Builders of Salisbury Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04911847 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

REGENCY BUILDERS OF SALISBURY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S Commons

C M Sellwood

REGISTERED OFFICE:

Wellington Barn

Britford Farm

Britford

SP5 4DY

REGISTERED NUMBER:

04911847 (England and Wales)

ACCOUNTANTS:

Fawcetts

Chartered Accountants

Windover House

St. Ann Street

Salisbury

SP1 2DR

FIXED ASSETS

Tangible assets

2

6,964

7,738

CURRENT ASSETS

Stocks

2,650

3,095

Debtors

32,499

16,818

Cash at bank

481

2,767

35,630

22,680

CREDITORS

Amounts falling due within one year

37,967

30,445

NET CURRENT LIABILITIES

(2,337

)

(7,765

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,627

(27

)

CREDITORS

Amounts falling due after more than one year

936

4,646

NET ASSETS/(LIABILITIES)

3,691

(4,673

)

CAPITAL AND RESERVES

Called up share capital

3

300

Profit and loss account

3,391

(4,973

)

SHAREHOLDERS' FUNDS

3,691

(4,673

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 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 have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 May 2016 and were signed on its behalf by:

S Commons - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis. The company is dependent upon the

support of the directors who have indicated that they will introduce funds as required to meet the company's

liabilities. The directors therefore consider that the going concern basis is appropriate. The financial statements

do not contain any adjustments that might be necessary were the going concern basis to be no longer

appropriate.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

10% on reducing balance

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low

value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit

and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

14,815

DEPRECIATION

At 1 January 2015

7,077

Charge for year

774

At 31 December 2015

7,851

NET BOOK VALUE

At 31 December 2015

6,964

At 31 December 2014

7,738

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

300

Ordinary

£1

300

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2015 and

31 December 2014:

2015

2014

£

S Commons

Balance outstanding at start of year

5,118

9,161

Amounts advanced

15,457

19,050

Amounts repaid

(6,028

)

(23,093

)

Balance outstanding at end of year

14,547

5,118

C M Sellwood

Balance outstanding at start of year

11,700

17,896

Amounts advanced

11,800

16,500

Amounts repaid

(6,028

)

(22,696

)

Balance outstanding at end of year

17,472

11,700

The directors' overdrawn loan accounts will be cleared by dividends in 2016.