Stock Construction (London) Ltd - Period Ending 2015-08-31

Registration number: 03796910

Stock Construction (London) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2015
 

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

Stock Construction (London) Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Stock Construction (London) Ltd
for the Year Ended 31 August 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Stock Construction (London) Ltd for the year ended 31 August 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Stock Construction (London) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Stock Construction (London) Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stock Construction (London) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Stock Construction (London) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Stock Construction (London) Ltd. You consider that Stock Construction (London) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Stock Construction (London) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

23 May 2016

Page 1

Stock Construction (London) Ltd
(Registration number: 03796910)
Abbreviated Balance Sheet at 31 August 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					280,934			281,709
Current assets
Stocks					9,650			5,217
Debtors					51,154			90,515
Cash at bank and in hand					542			117
					61,346			95,849
Creditors: Amounts falling due within one year					(228,509)			(179,124)
Net current liabilities					(167,163)			(83,275)
Total assets less current liabilities					113,771			198,434
Creditors: Amounts falling due after more than one year					-			(7,947)
Net assets					113,771			190,487
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					113,671			190,387
Shareholders' funds					113,771			190,487

For the year ending 31 August 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 director acknowledges his 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 director on 23 May 2016

.........................................
Mr Lance Stock
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Stock Construction (London) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

1	Accounting policies

Basis of preparation

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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings & equipment	20% straight line
Motor vehicles	20% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Stock Construction (London) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2014		343,958			343,958
Additions		21,117			21,117
At 31 August 2015		365,075			365,075
Depreciation
At 1 September 2014		62,249			62,249
Charge for the year		21,892			21,892
At 31 August 2015		84,141			84,141
Net book value
At 31 August 2015		280,934			280,934
At 31 August 2014		281,709			281,709

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share capital of £1 each		100			100			100			100

Page 4