Accounts filed on 31-03-2016

Accounts filed on 31-03-2016

FAIRWAYS CONTRACTING LIMITED - Company Information

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Registered number: 4158483
Fairways Contracting Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/03/2016
Prepared By:
Taylor & Taylor Accountants Limited
Chartered Accountants
175 Cole Valley Road
Birmingham
B28 0DG
Fairways Contracting Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/03/2016
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 4158483
Fairways Contracting Limited
Registered Number: 4158483
BALANCE SHEET AT 31/03/2016
20162015
Notes££
FIXED ASSETS
Tangible assets2791,504646,263
CURRENT ASSETS
Stock107,598106,380
Debtors (amounts falling due within one year)3129,760128,116
Cash at bank and in hand14,84362,128
252,201296,624
CREDITORS: Amounts falling due within one year189,755150,036
NET CURRENT ASSETS62,446146,588
TOTAL ASSETS LESS CURRENT LIABILITIES853,950792,851
CREDITORS: Amounts falling due after more than one year4792,102736,933
NET ASSETS61,84855,918
CAPITAL AND RESERVES
Called up share capital5100100
Profit and loss account61,74855,818
SHAREHOLDERS' FUNDS61,84855,918
For the year ending 31/03/2016 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 22/08/2016 and signed on their behalf by
P.Miller
Director
Fairways Contracting Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2016
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015).
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 10%
Commercial Vehiclesreducing balance 25%
Fixtures and Fittingsreducing balance 15%
Equipmentreducing balance 25%
1d. Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.
1e. Pension Costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1f. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
Fairways Contracting Limited
2. TANGIBLE FIXED ASSETS
Plant andCommercialFixtures
MachineryVehiclesand FittingsEquipmentTotal
£££££
Cost
At 01/04/2015981,405241,86312,640-1,235,908
Additions103,88054,4917,63365,632231,636
Disposals-(4,800)--(4,800)
At 31/03/20161,085,285291,55420,27365,6321,462,744
Depreciation
At 01/04/2015469,849118,5321,264-589,645
Disposals-(3,492)--(3,492)
For the year57,67621,9581,3284,12585,087
At 31/03/2016527,525136,9982,5924,125671,240
Net Book Amounts
At 31/03/2016557,760154,55617,68161,507791,504
At 31/03/2015511,556123,33111,376-646,263
3. DEBTORS 20162015
££
Amounts falling due within one year:
Trade debtors123,710104,266
Other debtors6,05023,850
129,760128,116
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20162015
££
Other creditors792,102736,933
792,102736,933
Included in other creditors are:
Obligations under hire purchase102,76795,707
Fairways Contracting Limited
5. SHARE CAPITAL 20162015
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100