Max_Abraham_Roofing_Contractors__Ltd_02_Feb_2016_abbreviated_set_of_accounts.html
Max_Abraham_Roofing_Contractors__Ltd_02_Feb_2016_abbreviated_set_of_accounts.html
Company registration number:
Abbreviated Balance Sheet
| 2016 | 2015 | ||||
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| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | # |
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| Current assets | |||||
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| Debtors |
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| Cash at bank and in hand |
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| Creditors: amounts falling due within one year | # |
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| Net current assets |
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| Total assets less current liabilities |
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| Capital and reserves | |||||
| Called up share capital | # |
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| Profit and loss account |
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| Shareholders funds |
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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 were approved by the board of directors and authorised for issue on 26 October 2016 , and are signed on behalf of the board by:
| Director |
Company registration number: 01041129
Notes to the Abbreviated Accounts
Year ended 2 February 2016
Accounting policies
Basis of preparation
Turnover
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Plant and machinery | |
| Fixtures fittings and equipment | 15% reducing balance basis |
| Motor vehicles | 25% reducing balance basis |
Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Financial instruments
Financial instruments are classified and accounted for according to the substance of contractual arrangements, as either financial assets, financial liabilities or equity instruments.
Operating leases
Leases are classified as operating leases where substantially all the benefits of ownerships remain with the lessor. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.
Tangible assets
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| Cost | ||
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| Additions |
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| Disposals |
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| Depreciation | ||
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| Charge |
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| Disposals |
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| Net book value | ||
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| At 2 February 2015 |
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