Company Registration No. 01273571 (England and Wales)
SURBITON EQUIPMENT HIRE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
SURBITON EQUIPMENT HIRE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
SURBITON EQUIPMENT HIRE LIMITED
Company Registration No. 01273571
ABBREVIATED BALANCE SHEET
AS AT 31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
950,000
Current assets
Debtors
-
7,560
Cash at bank and in hand
1,412,322
207,489
1,412,322
215,049
Creditors: amounts falling due within one year
(149,421)
(22,015)
Net current assets
1,262,901
193,034
Total assets less current liabilities
1,262,901
1,143,034
Capital and reserves
Called up share capital
3
100
100
Revaluation reserve
-
758,030
Profit and loss account
1,262,801
384,904
Shareholders' funds
1,262,901
1,143,034
For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 3 November 2016
D G T Corner
Director
SURBITON EQUIPMENT HIRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
1
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
Turnover
Turnover comprises revenue recognised by the company in respect of rents due during the year, exclusive of trade discounts.comprises revenue recognised by the company in respect of rents due during the year, exclusive of trade discounts.
Income is recognised in the period in which the service is supplied.
1.3
Tangible fixed assets and depreciation
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015
950,000
Disposals
(950,000)
At 31 August 2016
-
At 31 August 2015
950,000
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
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