ILKESTON FENCING LIMITED - Period Ending 2016-11-30

Registration number: 04306847

ILKESTON FENCING LIMITED

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2015
 

McIntosh Accountants Ltd
Chartered Accountants
20 Burns Street
Ilkeston
Derbyshire
DE7 8AA

ILKESTON FENCING LIMITED
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 Board of Directors on the Preparation of the Unaudited Statutory Accounts of
ILKESTON FENCING LIMITED
for the Year Ended 30 November 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ILKESTON FENCING LIMITED for the year ended 30 November 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 ILKESTON FENCING LIMITED, 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 ILKESTON FENCING LIMITED 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 ILKESTON FENCING LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ILKESTON FENCING LIMITED 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 ILKESTON FENCING LIMITED. You consider that ILKESTON FENCING LIMITED 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 ILKESTON FENCING LIMITED. 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.

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

McIntosh Accountants Ltd
Chartered Accountants
20 Burns Street
Ilkeston
Derbyshire
DE7 8AA

15 August 2016

Page 1

ILKESTON FENCING LIMITED
(Registration number: 04306847)
Abbreviated Balance Sheet at 30 November 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					319,088			328,118
Current assets
Stocks					39,723			30,779
Debtors					133,723			54,453
Cash at bank and in hand					166,839			163,090
					340,285			248,322
Creditors: Amounts falling due within one year					(283,001)			(269,318)
Net current assets/(liabilities)					57,284			(20,996)
Net assets					376,372			307,122
Capital and reserves
Called up share capital		3			1,003			1,003
Profit and loss account					375,369			306,119
Shareholders' funds					376,372			307,122

For the year ending 30 November 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 directors acknowledge their 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 Board on 15 August 2016 and signed on its behalf by:

.........................................
L Korytan
Director

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

ILKESTON FENCING LIMITED
Notes to the Abbreviated Accounts for the Year Ended 30 November 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
Freehold property	2% on cost
Motor vehicles	25% on cost
Plant and machinery	25% on cost

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.

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.

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.

Page 3

ILKESTON FENCING LIMITED
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2014		501,995			501,995
Additions		4,750			4,750
Disposals		(5,000)			(5,000)
At 30 November 2015		501,745			501,745
Depreciation
At 1 December 2014		173,877			173,877
Charge for the year		13,780			13,780
Eliminated on disposals		(5,000)			(5,000)
At 30 November 2015		182,657			182,657
Net book value
At 30 November 2015		319,088			319,088
At 30 November 2014		328,118			328,118

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000
B shares of £1 each		3			3			3			3
		1,003			1,003			1,003			1,003

Page 4