Adroit Building Services Limited - Period Ending 2016-05-31

Registration number: 05298855

Adroit Building Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

Ledger Accounting Services Limited
12 West Links
Tollgate
Chandlers Ford
Eastleigh
Hampshire
SO53 3TG

Adroit Building Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Adroit Building Services Limited
(Registration number: 05298855)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					3,368			5,437
Current assets
Stocks					22,827			42,988
Debtors					44,613			21,571
Cash at bank and in hand					1			1
					67,441			64,560
Creditors: Amounts falling due within one year					(69,725)			(69,088)
Net current liabilities					(2,284)			(4,528)
Total assets less current liabilities					1,084			909
Provisions for liabilities					(302)			(634)
Net assets					782			275
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					682			175
Shareholders' funds					782			275

For the year ending 31 May 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 director acknowledges his 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 director on 10 October 2016

.........................................
Mr William George Grimes
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Adroit Building Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% on cost

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
Plant and machinery	20% straight line
Fixtures and fittings	20% straight line
Motor vehicles	20% straight line

Stock and work in progress

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. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 2

Adroit Building Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 June 2015		31,467			48,141			79,608
At 31 May 2016		31,467			48,141			79,608
Depreciation
At 1 June 2015		31,467			42,704			74,171
Charge for the year		-			2,069			2,069
At 31 May 2016		31,467			44,773			76,240
Net book value
At 31 May 2016		-			3,368			3,368
At 31 May 2015		-			5,437			5,437

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		30,302			31,638

Page 3

Adroit Building Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordianry A Shares of £1 each		80			80			80			80
Ordinary B Shares of £1 each		20			20			20			20
		100			100			100			100

5

Control

The company is controlled by the directors who own 100% of the share capital. .

Page 4