L & V Contract Carpenters Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04704731 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

L & V Contract Carpenters Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

T J Love

SECRETARY:

T J Love

REGISTERED OFFICE:

3 Landmark House

Wirral Park Road

Glastonbury

Somerset

BA6 9FR

REGISTERED NUMBER:

04704731 (England and Wales)

ACCOUNTANTS:

Monahans

Chartered Accountants

3 Landmark House

Wirral Park Road

Glastonbury

Somerset

BA6 9FR

BANKERS:

LIoyds TSB

24-26 High Street

Wells

Somerset

BA5 2SJ

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

21,571

1,085

21,571

1,085

CURRENT ASSETS

Stocks

500

Debtors

15,969

40,132

Cash at bank

96,422

83,639

112,891

124,271

CREDITORS

Amounts falling due within one year

4

62,355

81,368

NET CURRENT ASSETS

50,536

42,903

TOTAL ASSETS LESS CURRENT
LIABILITIES

72,107

43,988

PROVISIONS FOR LIABILITIES

4,387

1,867

NET ASSETS

67,720

42,121

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

67,620

42,021

SHAREHOLDERS' FUNDS

67,720

42,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

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 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 director on 4 July 2016 and were signed by:

T J Love - Director

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 January 2015).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Equipment

-

33% on straight line basis, 20% on straight line basis and 20% on reducing balance

Motor vehicles

-

25% on straight line basis

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

30,000

AMORTISATION

At 1 April 2015

and 31 March 2016

30,000

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

15,356

Additions

28,161

Disposals

(14,607

)

At 31 March 2016

28,910

DEPRECIATION

At 1 April 2015

14,271

Charge for year

7,189

Eliminated on disposal

(14,121

)

At 31 March 2016

7,339

NET BOOK VALUE

At 31 March 2016

21,571

At 31 March 2015

1,085

4.

CREDITORS

Creditors include an amount of £ 0 (2015 - £ 10,036 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100