A.J. Taylor Electrical Contractors Ltd - Abbreviated accounts 16.1
A.J. Taylor Electrical Contractors Ltd - Abbreviated accounts 16.1
REGISTERED NUMBER: |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
FOR |
A.J. TAYLOR ELECTRICAL CONTRACTORS |
LIMITED |
A.J. TAYLOR ELECTRICAL CONTRACTORS |
LIMITED (REGISTERED NUMBER: 03319595) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
A.J. TAYLOR ELECTRICAL CONTRACTORS |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
A.J. TAYLOR ELECTRICAL CONTRACTORS |
LIMITED (REGISTERED NUMBER: 03319595) |
ABBREVIATED BALANCE SHEET |
30 SEPTEMBER 2015 |
2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Debtors |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 3 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 3 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Profit and loss account |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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 financial statements were approved by the director on |
A.J. TAYLOR ELECTRICAL CONTRACTORS |
LIMITED (REGISTERED NUMBER: 03319595) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
1. | ACCOUNTING POLICIES |
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 April 2008). |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where |
turnover is recognised when the company obtains the right to consideration. |
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in |
the profit and loss accounts turnover and related costs as contract activity progresses. Turnover is calculated as the |
proportion of total contract value completed to date. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital |
element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the |
lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
charged to the profit and loss account in the period to which they relate. |
Long term contracts |
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done |
after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on |
account. Excess progress payments are included in creditors as payments on account. |
A.J. TAYLOR ELECTRICAL CONTRACTORS |
LIMITED (REGISTERED NUMBER: 03319595) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 October 2014 |
Additions |
Disposals | ( |
) |
At 30 September 2015 |
DEPRECIATION |
At 1 October 2014 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 September 2015 |
NET BOOK VALUE |
At 30 September 2015 |
At 30 September 2014 |
3. | CREDITORS |
Creditors include an amount of £ |
They also include the following debts falling due in more than five years: |
2015 | 2014 |
£ | £ |
Repayable by instalments | 28,147 | 40,948 |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
Ordinary | £1 |
5. | RELATED PARTY DISCLOSURES |
The director |
The company occupies premises, at a rent of £18,000 (2014 - £18,000), which are owned by the director. The company's |
overdraft is secured by a charge over its premises. |
Mr A J & Mrs P L Taylor owed £523 (2014 - £523) to the company at the year end in relation to work performed in 2008. |
This amount is included within trade debtors. |
Mr A J Taylor has issued a personal guarantee of £170,000 to the company's bankers. |
At the year end, the company owed Mr A J Taylor £34,685 (2014 - £34,902). |