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NEWTON KEANE CONTRACTORS LTD
REGISTERED NUMBER: 07078708
ABBREVIATED BALANCE SHEET
AS AT 30 NOVEMBER 2015
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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PROVISIONS FOR LIABILITIES
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The director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 November 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
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NEWTON KEANE CONTRACTORS LTD
ABBREVIATED BALANCE SHEET (continued)
AS AT 30 NOVEMBER 2015
The abbreviated accounts, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
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S J Maze-Brown
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The notes on pages 3 to 4 form part of these financial statements.
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NEWTON KEANE CONTRACTORS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2015
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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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).
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The directors have taken into account the guidance given by the Financial Reporting Council in "Going Concern and Liquidity Risk : Guidance for Directors of UK Companies (October 2009)". The directors believe that the company will be able to maintain positive cash flows for the foreseeable future. As a result the going concern basis of accounting has been adopted.
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Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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NEWTON KEANE CONTRACTORS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2015
2.TANGIBLE FIXED ASSETS
3.SHARE CAPITAL
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Allotted, called up and fully paid
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101 Ordinary shares of £1 each
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4.DIRECTOR'S LOAN
At the balance sheet date, the company was owed £52,210 (2014: £17,710) by S J Maze-Brown, the director. The maximum balance outstanding during the year was £55,356. The loan is being repaid by regular monthly instalments and interest has been charged on the outstanding amount to the director at HMRC authorised rates. During the year land was transferred from the comany to the director, S J Maze-Brown, and her husband at market value.
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