D_J_SWALLOW_CONSTRUCTION_ - Accounts

D J SWALLOW CONSTRUCTION LIMITED - Company Information

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Company Registration No. 03534324 (England and Wales)

D J SWALLOW CONSTRUCTION LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

D J SWALLOW CONSTRUCTION LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

D J SWALLOW CONSTRUCTION LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

13,793

15,915

Current assets

Stocks

2,011,036

1,640,100

Debtors

512,975

318,777

2,524,011

1,958,877

Creditors: amounts falling due within one year

(1,753,077)

(1,402,689)

Net current assets

770,934

556,188

Total assets less current liabilities

784,727

572,103

Provisions for liabilities

(1,935)

(2,391)

782,792

569,712

Capital and reserves

Called up share capital

100

Profit and loss account

782,692

569,612

Shareholders' funds

782,792

569,712

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 18 August 2016

Mr David Swallow

Mrs Samantha Swallow

Director

Company Registration No. 03534324

D J SWALLOW CONSTRUCTION LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover and profits

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% reducing balance

Fixtures, fittings & equipment

20% reducing balance

Motor vehicles

25% reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

D J SWALLOW CONSTRUCTION LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

66,276

Additions

1,366

At 31 March 2016

67,642

Depreciation

At 1 April 2015

50,361

Charge for the year

3,488

At 31 March 2016

53,849

Net book value

At 31 March 2016

13,793

At 31 March 2015

15,915

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £49,427 (2015 - £131,697).

Share capital

2016

2015

Allotted, called up and fully paid

100 Issued ordinary shares of £1 each

100